Full Year 2020 IHI Corp Earnings Call Transcript
This is Maruyama, in charge of Finance & Accounting of IHI Group. I will explain IHI Group's financial results for the fiscal year 2019 based on the PowerPoint presentation materials disclosed at 3 p.m. today.
Please turn to Page 4. This slide shows the consolidated results, including orders received and the income statement. The forecast announced on February 6 and the difference of the actual result and the forecast is shown at the upper left for each item. Orders received were JPY 1.3739 trillion, down JPY 25.2 billion year-on-year.
As shown at the top right, the average exchange rate for sales in the year was JPY 109.16 to the U.S. dollar. There was JPY 1.93 appreciation from JPY 111.09 of the previous corresponding period. Net sales decreased by JPY 96.9 billion to JPY 1.3865 trillion. Operating profit was JPY 60.7 billion, down JPY 21.6 billion year-on-year, mainly due to lower sales.
Ordinary profit decreased by a bigger degree of JPY 33.4 billion, down to JPY 32.2 billion, owing to
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