Hitachi Q1 Report 2023

Q1 FY23 continuing consolidated business revenues were 1,828.3bn yen (YoY +12%), Adjusted EBITA was 156.9bn yen (YoY +31.9bn yen)

  • Hitachi Energy performed well on strong demand, and profitability improved

Stable order growth mainly in large-scale businesses

  • Digital Systems & Services: orders 731.7bn yen (YoY +11%), backlog c.1.5trn yen
  • Hitachi Energy: orders 1,015.4bn yen (YoY +69%), backlog c.3.6trn yen
  • Railway Systems: orders 190.5bn yen (YoY +149%), backlog c.4.6trn yen

FY2023 forecast remains unchanged from the previous forecast

  • Forecast is based on the assumption that Hitachi Astemo is expected to become an equity method affiliate in September 2023 Thales GTS is included in the forecast for the second half of the year
  • Share repurchase up to 100.0 bn yen is in progress (Total repurchase amount aggregated to c.30.0 bn yen as of the end of June 2023)

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