Takeda Reports 1st Quarter FY2017 Results
2017年7月28日 - 3:00PM
ビジネスワイヤ(英語)
Strong start to FY2017 with double-digit EPS
growth;confirms confidence in full-year outlook
Takeda Pharmaceutical Company Limited
(TOKYO:4502):
Underlying Revenue growth of 6.6% led by Takeda's Growth
Drivers
- Underlying Revenue grew +6.6% with
growth across all regions (U.S. +13.5%, Japan +1.6%, Europe &
Canada +4.6%, Emerging Markets +6.0%). Takeda's Growth Drivers (GI,
Oncology, CNS and Emerging Markets) maintained their strong
momentum to deliver growth of +14.7%.
- GI (Gastroenterology) +23.2%, led by
continued success of ENTYVIO® and TAKECAB®
- Oncology +12.2%, driven by NINLARO®,
ADCETRIS®, ICLUSIG® and ALUNBRIGTM
- CNS +29.8%, spearheaded by TRINTELLIX®
in the U.S.
- Emerging Markets +6.0%, with
double-digit growth in the key markets of Russia and Brazil
- Reported revenue grew +3.3%, with the
positive contribution from Takeda's Growth Drivers offsetting the
impact of unfavorable currencies (-0.4pp) and divestitures
(-2.9pp).
Double-digit EPS growth driven by Revenue growth and
significant margin gains
- Underlying Core Earnings grew +29.4%,
with a margin increase of 350bps driven by an improvement in Gross
Margin and continued OPEX discipline.
- Reported operating profit was up
+27.5%, driven by strong underlying growth. Takeda realized a
one-time gain in Q1 FY2017 of 106.3 billion yen from the sale of
shares of Wako Pure Chemical Industries, Ltd. This was similar in
size to the Teva JV transaction gain of 102.9 billion yen in Q1
FY2016, and therefore the impact on our year-on-year growth rate
was minimal.
- Underlying Core EPS was up +35.7%,
reflecting strong Core Earnings growth and a phasing benefit from
tax rate. Reported EPS increased +45.8% to 186 yen per share.
Significant progress on Cash Flow and reduced net
leverage
- Operating Free Cash Flow increased
+50.3% to 55.5 billion yen.
- Sale of non-core assets generated an
additional 128 billion yen of cash.
- Net Debt / EBITDA drops from 2.7x at
end of FY2016 to 2.1x
James Kehoe, Chief Financial Officer of Takeda,
commented:
"Takeda delivered a strong start to the year on both revenue and
profitability, driven by the continued strength of our Growth
Drivers and good progress on our cost management initiatives. We
are executing well against our key priorities of growing the
portfolio, rebuilding the pipeline, and boosting profitability, and
the first quarter results confirm our confidence in the full-year
outlook for double-digit EPS growth."
Reported Results for Q1 (April - June)
FY2017
(billion yen)
FY2016 Q1 FY2017 Q1
Growth Reported
Underlying2 Revenue 434.0 448.2 +3.3%
+6.6%
Core Earnings1 77.1 106.3 +37.9%
+29.4% Operating Profit
152.9 195.0 +27.5%
- Net Profit3 99.5 144.8 +45.5%
+35.7% EPS 127 yen 186 yen +45.8%
- Core EPS
71 yen 103 yen +44.5%
+35.7% 1
Core Earnings is calculated by taking reported Gross Profit and
deducting SG&A expenses and R&D expenses. In addition,
certain other items that are non-core in nature and significant in
value may also be adjusted. 2 Underlying growth compares two
periods of financial results on a common basis, showing the ongoing
performance of the business excluding the impact of foreign
exchange and divestitures from both periods. 3 Attributable to the
owners of the company.
Takeda maintains its Management Guidance and Reported
Forecast for FY2017, projecting double-digit EPS growth.
FY2017 Management Guidance
Guidance (growth %) Underlying Revenue Low single digit
Underlying Core Earnings Mid-to-high teen Underlying Core EPS
Low-to-mid teen Annual dividend per share 180 yen
FY2017 Reported Forecast
(billion yen)
FY2016 Results FY2017 Forecast % change
Revenue 1,732.1 1,680.0 -3.0% Core Earnings 245.1 257.5 +5.0%
Operating Profit 155.9 180.0 +15.5% Net Profit 114.9 138.0 +20.1%
EPS 147 yen 177 yen +20.1% Exchange Rate(annual average) 1
US$= 109 yen
1 euro= 120 yen
1 US$= 110 yen
1 euro= 120 yen
For more details on Takeda’s FY2017 first quarter results and
other financial information please visit
https://www.takeda.com/investors/reports/
About Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited is a global, research and
development-driven pharmaceutical company committed to bringing
better health and a brighter future to patients by translating
science into life-changing medicines. Takeda focuses its R&D
efforts on oncology, gastroenterology and central nervous system
therapeutic areas plus vaccines. Takeda conducts R&D both
internally and with partners to stay at the leading edge of
innovation. New innovative products, especially in oncology and
gastroenterology, as well as Takeda’s presence in Emerging Markets,
are currently fueling the growth of Takeda. Around 30,000 Takeda
employees are committed to improving quality of life for patients,
working with Takeda’s partners in health care in more than 70
countries.For more information, visit
https://www.takeda.com/newsroom/.
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Investor RelationsTakeda Pharmaceutical Company
Limited+81-(0)3-3278-2306takeda.ir.contact@takeda.comMedia
RelationsTakeda Pharmaceutical Company LimitedTsuyoshi Tada,
+81 (0)3-3278-2417tsuyoshi.tada@takeda.com