Hitachi, Ltd. Announces Consolidated Earnings Results for the First Quarter of Fiscal Year 2019; Provides Earnings Guidance for the Fiscal Year 2019
July 29, 2019 at 12:00 pm IST
Share
Hitachi, Ltd. announced consolidated earnings results for the first quarter of fiscal year 2019. For the first quarter, the company's Revenue was JPY 2.0325 trillion, which was 6% decline year-over-year. In terms of EBIT, JPY 182.5 billion, which is an increase of JPY 2 billion year-over-year. At the very bottom, the company has the net income attributable to the company's stockholders, which is net income JPY 120.3 billion, which was JPY 15 billion increase or increased by 14%.
The company provided earnings guidance for the fiscal year 2019. The company announced that the forecast has remained unchanged. The company expects revenues to be in the range of JPY 9 trillion, net income attributable to the company stockholders of JPY 435 billion.
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).