Europe
Mitsubishi Heavy Industries’ CFO: Gas Turbine Demand remains Strong Despite DeepSeek
Mitsubishi Heavy Industries’ (MHI) finance chief, Hisato Kozawa, stated that demand for gas turbines remains strong despite the rise in data centres’ electricity needs.
• Despite the unproven performance of Chinese AI DeepSeek, Kozawa did not have concerns about the company’s turbine business.
• MHI released record Q3 earnings and annual forecasts for the financial year ending in March, largely driven by strong demand for gas turbines.
• MHI raised its net profit forecast for fiscal 2024/25 to 240 billion yen ($1.55 billion), more than 8% higher than its previous guidance.
• MHI shares closed at 2,218 yen per share, down 0.6% from the previous day’s close, while the benchmark Nikkei 225 NI225 was up 0.7%.
