Full Year 2023 IHI Corp Earnings Call Transcript
This is Fukumoto, General Manager of Finance and Accounting of IHI Group. I will explain IHI Group's financial results for the fiscal year 2022 based on the PowerPoint presentation materials disclosed at 3:00 p.m. today. This page shows the contents of today's presentation.
Please turn to Page 4. This slide shows an overview of the results. In fiscal year 2022, IHI Group achieved increase in revenue and profits and restored profitability in all the reportable segments with a record high operating profit close to JPY 90 billion. In the civil aero engines business, the trend in sales of spare parts remained solid, in line with the recovery in air transportation demand. In addition, profits further increased due to more than expected depreciation of the yen as well as improved profitability.
In the vehicular turbochargers business, although sales have recovered moderately, they are not yet as strong. Challenges still remain as we have not been able to sufficiently pass on soaring prices of raw materials to contract prices. Other businesses overall remained steady. As for cash flows,
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