Q2 Results (Jan - Jun 2021) Conference Call
CHUGAI PHARMACEUTICAL CO., LTD.
26 July 2021
Important Reminder
Forward-Looking Statements
This presentation may include forward-looking statements pertaining to the business and prospects of Chugai Pharmaceutical Co., Ltd. (the "Company"). These statements reflect the Company's current analysis of existing information and trends. Actual results may differ from expectations based on risks and uncertainties that may affect the Company's businesses.
Core Results
Chugai discloses its results on a Core basis from 2013 in conjunction with its transition to IFRS. Core results are the results after adjusting non-recurring items recognized by Chugai to IFRS results, and are consistent with the Core concept disclosed by Roche. Core results are used by Chugai as an internal performance indicator, for explaining the status of recurring profits both internally and externally, and as the basis for payment-by-results, including return to shareholders.
Note:
• Amounts shown in this report are rounded to the nearest 0.1 billion yen
• Variance and % are calculated based on the amounts shown
2
Q2 Results (Jan - Jun 2021) Conference Call
Agenda
01 | FY2021 Q2 Overview | Dr. Osamu Okuda |
President & CEO |
02 FY2021 Q2 Consolidated Financial Overview (Core) Toshiaki Itagaki
Executive Vice President & CFO
03 | Overview of Development Pipeline | Tetsuya Yamaguchi |
Senior Vice President, Head of Project &
Lifecycle Management Unit
3
FY2021 Q2 Overview
Dr. Osamu Okuda
President & CEO
FY2021 Q2 Overview
Financial Overview
- YoY increase in revenues and profits in the first half due to an increase in ROOI along with the growth in overseas local sales
- Government purchase of Ronapreve and expected increase in Actemra exports are upside factors to the initial forecast
- Expected to increase revenues and profits YoY for the fifth consecutive year due to the first half results exceeding the initial forecast and the upside factors from the second half onward
Core | 2020 | 2021 | Growth | 2021 | Progress | ||
Jan -Jun | Jan -Jun | Jan - Dec | |||||
(billions of JPY) | actual | actual | forecast | (%) | |||
Revenues | 368.1 | 390.2 | +22.1 | +6.0% | 800.0 | 48.8% | |
Domestic sales | 204.6 | 203.4 | -1.2 | -0.6% | 393.7 | 51.7% | |
Overseas sales | 101.0 | 100.7 | -0.3 | -0.3% | 237.3 | 42.4% | |
ROOI | 62.5 | 86.1 | +23.6 | +37.8% | 169.0 | 50.9% | |
Operating profit | 143.7 | 165.8 | +22.1 | +15.4% | 320.0 | 51.8% | |
Operating margin | 39.0% | 42.5% | +3.5%pts | 40.0% | - | ||
Net income | 104.5 | 121.7 | +17.2 | +16.5% | 232.0 | 52.5% | |
EPS (yen)* | 63.51 | 73.99 | +10.48 | +16.5% | 141.00 | 52.5% |
ROOI: Royalties and other operating income
* Effective July 1, 2020, Chugai has implemented a three-for-one stock split of its common stock. EPS is calculated based on the assumption that the stock split was implemented at the beginning of fiscal year 2020.
No major negative impact on financial performance due to COVID-19
Revenues / Operating profit / Net income exceeded expectations due to progress of domestic sales, driven by market penetration of additional indications for mainstay products, and ROOI, driven by Actemra-related income
Ronapreve has received Special Approval for Emergency, and is expected to be purchased by the government during this year. (Upside factor from the initial forecast)
The COVID-19-related portion included in the full-year forecast for Actemra export is limited. Expected to
increase exports to Roche in the | |
second half. (Upside factor from the | |
initial forecast) | 5 |
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Chugai Pharmaceutical Co. Ltd. published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 07:07:01 UTC.