Connection

popular articles

Kong Solaire announces a 50 MW solar power plant in Côte d’Ivoire
Tronox and Pacific Energy launch a solar hybrid system in Hatfield
GET and BET join forces for environmentally-friendly heating
Sunfire leads major study for European hydrogen project
Russian thermal coal exports on the rise

Hitachi: net profit to grow in 2022/23, share buyback announced

Japan's Hitachi reported its financial results for fiscal year 2022/23, posting a slight increase in net income thanks to currency effects and gains on asset disposals. However, the group expects its results for the current fiscal year to decline as a result of these disposals.

Please share:

Japanese conglomerate Hitachi on Thursday reported slightly higher results for its fiscal year 2022/23 ended in late March, benefiting in particular from positive currency effects and one-time gains on asset disposals, and announced a share buyback.

Net profit of 4.4 billion euros

For the past fiscal year, Hitachi posted a net profit of 649.1 billion yen (4.4 billion euros), up 11% year-on-year, and an adjusted operating profit of 748.1 billion yen (+1.3%). Its results, with revenues up 6% year-on-year, were notably boosted by the fall in the yen and boosted by its 2021 acquisition of US software developer GlobalLogic.

Hitachi said in a statement that it was affected in the fourth quarter by the shortage of semiconductors, mainly in its Hitachi Astemo segment (automotive equipment), as well as by the soaring costs of certain materials.

The group expects lower results for 2023/24

The group is increasingly repositioning itself in digital systems and services for industry, a fast-growing market, and is also very present in energy, rail and automotive equipment. At the end of the fiscal year, Hitachi finalized the sale of its shares in Hitachi Transport System (logistics), following the sale of Hitachi Metals (steel), and half of its shares in Hitachi Construction Machinery (construction equipment).

For the fiscal year 2023/24, which started on April 1, it expects lower results due to these asset disposals, with sales of 8,800 billion yen (-19% year-on-year). Hitachi expects a net profit of 500 billion yen (3.4 billion euros, -23% year-on-year) and an adjusted operating profit of 675 billion yen, down 10% year-on-year. The group specifies that these forecasts are based on the assumption that its acquisition of the rail signalling activities of French company Thales will be completed by the end of 2023. The conglomerate also announced on Thursday a repurchase of its own shares from Friday until the end of March 2024, for a maximum amount of 100 billion yen (676 million euros). It plans to pay annual dividends of 145 yen per share.

Register free of charge for uninterrupted access.

Publicite

Latest news

United States: Talos Energy discovers 400 feet of hydrocarbons in the Gulf of Mexico
Colombia and Ecopetrol Reduce ADR Conversion Fees by 50%
The United States Will Block 100,000 Wind Turbines Under Trump
Rwanda Adjusts Statements on Oil Discovery in Lake Kivu
Chris Wright: Trump’s Pick for Energy Balances Renewables and Fossil Fuels

Recently published in

Colombia and Ecopetrol Reduce ADR Conversion Fees by 50%

Ecopetrol announces, in partnership with JPMorgan Chase Bank, a 50% reduction in conversion fees for its American Depositary Receipts, effective until July 10, 2025, as part of a strategy to enhance its international appeal.
Masdar boosts its capacity to 51GW through strategic acquisitions.
Masdar, supported by the United Arab Emirates, increased its energy capacity to 51GW in 2024, strengthening its global strategy through targeted acquisitions and key projects.
en_11401291540
Masdar boosts its capacity to 51GW through strategic acquisitions.
Masdar, supported by the United Arab Emirates, increased its energy capacity to 51GW in 2024, strengthening its global strategy through targeted acquisitions and key projects.
en_11401291540
Aramco and Ma’aden: A Strategic Partnership for Lithium Exploitation in Saudi Arabia
Aramco and Ma'aden announce a joint venture project to exploit lithium, a strategic mineral for the energy transition. This initiative aims to position Saudi Arabia as a key player in the market for critical minerals.
en_11401298540
Aramco and Ma’aden: A Strategic Partnership for Lithium Exploitation in Saudi Arabia
Aramco and Ma'aden announce a joint venture project to exploit lithium, a strategic mineral for the energy transition. This initiative aims to position Saudi Arabia as a key player in the market for critical minerals.
en_11401298540
EDF: Significant Increase in Nuclear and Hydropower Production in 2024
In 2024, EDF recorded a significant increase in nuclear and hydropower electricity production, marking a turning point due to better industrial management and favorable climatic conditions.
en_11401250540
EDF: Significant Increase in Nuclear and Hydropower Production in 2024
In 2024, EDF recorded a significant increase in nuclear and hydropower electricity production, marking a turning point due to better industrial management and favorable climatic conditions.
en_11401250540

The United Arab Emirates invests 500 million dollars in 11 GW of American infrastructure

Abu Dhabi Investment Authority’s subsidiary partners with ArcLight to support a strategic 11 GW energy portfolio in the United States.
Constellation Energy acquires Calpine for $26.6 billion
Constellation Energy acquires Calpine for $26.6 billion, strengthening its position in the U.S. energy sector amid growing electricity demand.
en_11401204540
Constellation Energy acquires Calpine for $26.6 billion
Constellation Energy acquires Calpine for $26.6 billion, strengthening its position in the U.S. energy sector amid growing electricity demand.
en_11401204540
The CEO of Galp Energia resigns amidst controversy
Filipe Silva, CEO of Galp Energia since 2023, steps down following allegations of a conflict of interest involving a presumed relationship with a company director.
en_11401182540
The CEO of Galp Energia resigns amidst controversy
Filipe Silva, CEO of Galp Energia since 2023, steps down following allegations of a conflict of interest involving a presumed relationship with a company director.
en_11401182540
The United States strengthens its energy capabilities with the acquisition of AEG for $30 million
ICF acquires Applied Energy Group from Ameresco for $30 million, consolidating its energy and technology services for public utilities and local governments.
en_11401177540
The United States strengthens its energy capabilities with the acquisition of AEG for $30 million
ICF acquires Applied Energy Group from Ameresco for $30 million, consolidating its energy and technology services for public utilities and local governments.
en_11401177540

Brookfield becomes majority shareholder of Neoen for €6 billion

The Canadian group Brookfield acquired 53.12% of the capital of Neoen, a French renewable energy specialist, paving the way for a public offer for the remaining shares.
China: CATL redefines safety with a chassis tested at 120 km/h
CATL, in China, unveils a chassis capable of withstanding frontal collisions at 120 km/h, a breakthrough transforming automotive safety standards.
en_11401029540
China: CATL redefines safety with a chassis tested at 120 km/h
CATL, in China, unveils a chassis capable of withstanding frontal collisions at 120 km/h, a breakthrough transforming automotive safety standards.
en_11401029540
Iberdrola Finalizes the Acquisition of Avangrid
Iberdrola completes the acquisition of the remaining 18.4% of Avangrid, an operation approved by US regulators. This $35.75 per share transaction marks a strategic milestone for its activities in the United States.
iberdrola-HQ
Iberdrola Finalizes the Acquisition of Avangrid
Iberdrola completes the acquisition of the remaining 18.4% of Avangrid, an operation approved by US regulators. This $35.75 per share transaction marks a strategic milestone for its activities in the United States.
iberdrola-HQ
India Invests $12 Billion in Rajasthan with Avaada
A $12 billion investment in Rajasthan aims to strengthen the state’s industrial and energy capacities, while boosting employment and economic attractiveness.
en_11401015540
India Invests $12 Billion in Rajasthan with Avaada
A $12 billion investment in Rajasthan aims to strengthen the state’s industrial and energy capacities, while boosting employment and economic attractiveness.
en_11401015540

Jean-Christian Bergeron appointed as head of Rubis Énergie to accelerate growth

Rubis, an energy group based in Paris, appoints Jean-Christian Bergeron as the General Manager of Rubis Énergie. He will assume his role in January 2025 to lead growth strategy in global energy distribution markets.
ABB strengthens its business strategy in renewable energy with the acquisition of Gamesa Electric
The Swiss-Swedish group ABB acquires strategic activities from Gamesa Electric, consolidating its business strategy in renewable energy through equipment for wind, solar, and storage.
en_1140935540
ABB strengthens its business strategy in renewable energy with the acquisition of Gamesa Electric
The Swiss-Swedish group ABB acquires strategic activities from Gamesa Electric, consolidating its business strategy in renewable energy through equipment for wind, solar, and storage.
en_1140935540
EIB Grants €243 Million to ERG to Strengthen Its Wind and Solar Assets in Europe
The European Investment Bank finances the development and modernization of energy infrastructure in France, Italy, and Germany, supporting a portfolio of 270 MW of renewable projects.
en_1140927540
EIB Grants €243 Million to ERG to Strengthen Its Wind and Solar Assets in Europe
The European Investment Bank finances the development and modernization of energy infrastructure in France, Italy, and Germany, supporting a portfolio of 270 MW of renewable projects.
en_1140927540
Pattern Energy welcomes a new investment to accelerate its growth in renewable energy
Pattern Energy announces the entry of a consortium led by APG and ART, marking a major milestone in its expansion with over 25 GW of renewable energy projects across North America.
en_1140932540
Pattern Energy welcomes a new investment to accelerate its growth in renewable energy
Pattern Energy announces the entry of a consortium led by APG and ART, marking a major milestone in its expansion with over 25 GW of renewable energy projects across North America.
en_1140932540

Blockade at GE Vernova Site in Montoir-de-Bretagne: Unions Oppose Job Cuts

Access to the GE Vernova plant in Montoir-de-Bretagne has been blocked since Friday by unions protesting against the planned elimination of 140 jobs.
The IFC invests $30 million in an energy fund to strengthen its strategy in Africa
The International Finance Corporation (IFC) injects $30 million into Inspired Evolution Fund III, a fund focused on renewable energy, as part of its diversification and expansion strategy in Africa's growing markets.
en_1140907540
The IFC invests $30 million in an energy fund to strengthen its strategy in Africa
The International Finance Corporation (IFC) injects $30 million into Inspired Evolution Fund III, a fund focused on renewable energy, as part of its diversification and expansion strategy in Africa's growing markets.
en_1140907540
Marathon Petroleum Announces the Release of 2024 Financial Results
Marathon Petroleum Corp. (MPC) will reveal its financial results for the fourth quarter and full year 2024 during a conference on February 4, 2025. The information will be available online, with a webcast replay accessible for two weeks.
en_1140853540
Marathon Petroleum Announces the Release of 2024 Financial Results
Marathon Petroleum Corp. (MPC) will reveal its financial results for the fourth quarter and full year 2024 during a conference on February 4, 2025. The information will be available online, with a webcast replay accessible for two weeks.
en_1140853540
Suez: departure of CEO Sabrina Soussan and major governance reorganization
Suez announces the unexpected departure of its CEO Sabrina Soussan effective January 31, 2025. A transitional organizational shift is underway with Thierry Déau, chairman of the board, ensuring continuity and the group’s future.
en_1140804540
Suez: departure of CEO Sabrina Soussan and major governance reorganization
Suez announces the unexpected departure of its CEO Sabrina Soussan effective January 31, 2025. A transitional organizational shift is underway with Thierry Déau, chairman of the board, ensuring continuity and the group’s future.
en_1140804540

France: Enedis commits €3.6 billion to its business strategy for modernizing the electric grid

Enedis is investing €3.6 billion in an ambitious strategy to modernize the French electric grid, enhance its climate resilience, and support the national industry.
Elyse Energy raises €120 million to accelerate its sustainable fuel projects
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
en_1140773540
Elyse Energy raises €120 million to accelerate its sustainable fuel projects
Elyse Energy, a French SME, announces €120 million in funding to develop synthetic methanol and sustainable fuel plants, targeting the decarbonization of the aviation, maritime, and chemical sectors.
en_1140773540
TotalEnergies acquires developer VSB to strengthen its energy strategy
As part of its global energy strategy, TotalEnergies invests €1.57 billion to acquire the German group VSB, a major player in wind and solar projects in Europe.
en_1140735540
TotalEnergies acquires developer VSB to strengthen its energy strategy
As part of its global energy strategy, TotalEnergies invests €1.57 billion to acquire the German group VSB, a major player in wind and solar projects in Europe.
en_1140735540
Aramco finalizes the acquisition of 10% of Horse Powertrain
Aramco completes the acquisition of a 10% stake in Horse Powertrain, valued at €7.4 billion, specializing in hybrid and thermal powertrain solutions.
en_1140705540
Aramco finalizes the acquisition of 10% of Horse Powertrain
Aramco completes the acquisition of a 10% stake in Horse Powertrain, valued at €7.4 billion, specializing in hybrid and thermal powertrain solutions.
en_1140705540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS