Shulou(Shulou.com)11/24 Report--

CTOnews.com August 9 news, Daikin Industry announced on August 8, 2023 April to June 2023 consolidated results, net profit increased 14% year-on-year to 80.2 billion yen (CTOnews.com Note: currently about 4.05 billion yuan).

This is a new record for Daijin's net profit for the April-June period, due to an 18 per cent increase in China's air-conditioning business, as well as global price increases and cost controls. However, due to uncertainty in markets such as the US and Europe, Daijin's profit forecast for the full year of fiscal 2023 remained unchanged.

▲ Tuyuan Daijin Air conditioning official website Daijin Industrial sales reached 1.0947 trillion yen (currently about 55.282 billion yuan), up 13% year-on-year; operating profit 117.8 billion yen (currently about 5.949 billion yuan), up 9% year-on-year; recurrent profit rose 5% to 114.8 billion yen (currently about 5.797 billion yuan), all new highs in April and June.

In April and June, the operating profit of Daijin increased by 18 billion yen (currently about 909 million yuan) due to the continuous rise in prices and changes in the combination of models brought about by soaring material prices. Cost cuts have also increased operating profit by 12 billion yen (currently about 606 million yuan). In addition, the lower-than-expected exchange rate of the yen increased profits by 3 billion yen (currently about 151 million yuan).

From a regional point of view, the Chinese market performed well, with air-conditioning business sales up 18% year-on-year. In Asia, sales in India, Indonesia and Thailand are also strong.

In the United States, sales of large commercial air conditioners such as data centers are strong. Household air conditioners are in the inventory adjustment stage, but the energy-saving air conditioners equipped with frequency conversion function perform well. At the same time, rising prices have infiltrated the market.

In Europe, Daijin sales rose 14 per cent due to strong sales of commercial air conditioners. Sales of heat pump heaters rose sharply until the start of fiscal year 2023, but began to decline in April and June. In Italy, due to the revision of the subsidy system and the tightening of environmental regulations, the demand for traditional combustion heating heaters has increased and the demand for heat pumps has decreased. Daijin believes that the decline in demand is temporary and plans to expand sales of more energy-efficient heat pump heaters for more enterprises during the peak demand.

Daikin now expects sales in fiscal 2023 to rise 3 per cent year-on-year to 4.1 trillion yen (currently about 207.05 billion yuan) and net profit to 264 billion yen (currently about 13.332 billion yuan). For the third year in a row, the company's expected profit reached a new high, which remained unchanged from the initial forecast. Dajin said this is because the future is uncertain in many areas, such as the home market in the United States, the heat pump market in Europe and the real estate market in China.

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