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    4543   JP3546800008

TERUMO CORPORATION

(4543)
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Delayed Japan Exchange  -  02:00 2022-09-22 am EDT
4239.00 JPY   -0.38%
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Terumo : Financial Results for the FYE 3/2023(with note) (PDF 1 MB)

08/10/2022 | 03:46am EDT

Financial Results for the First Quarter of

Fiscal Year Ending March 31, 2023 (FY2022)

August 9, 2022

Naoki Muto

Chief Accounting and Financial Officer

Terumo Corporation

I am the CAFO, Muto. I will now explain the first quarter results for the fiscal year ending March 2023.

Safe Harbor for Forward-Looking Statements and Use of Document

Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts or projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. Information about products (including products currently in development) which is included in this material is not intended to constitute an advertisement or medical advice.

Terumo Corporation

Investor Relations Dept.

E-mail: kouhou_terumo01@terumo.co.jp

©TERUMO CORPORATION

2 / 22

FY22 Q1 Results Highlights

Revenue

Positive year-on-year growth for all three companies, highest-ever quarterly revenue

Recovery in healthcare demand including number of procedures in addition to FX (yen depreciation) contribution, resulting in double-digit growth in all regions outside of Japan

Positive growth in all regions, even when excluding FX impact

Operating profit

Gross profit amount grew 8% due to revenue increase, even market conditions (inflation) caused a rise in costs

Sales promotion and R&D activities resumed emerging from COVID-19 pandemic, with the comparable period having still been affected by COVID-19

Operating profit amount decreased 16%, but grew broadly quarter-on-quarter

©TERUMO CORPORATION

3 / 22

Revenue grew positively year-on-year and was the highest-ever in a quarter for all three companies.

Recovery in healthcare demand including number of procedures, in addition to FX contribution, resulted in double-digit growth in all regions outside of Japan.

All regions grew positively year-on-year, even when excluding FX impact. In profit, there was impact from inflation, but increased revenue resulted in 8% gross profit growth.

Simultaneously, sales promotion, R&D, and other activities resumed more than they had in the same quarter of the previous year, when they were still partially limited by COVID-19.

As a result, operating profit was minus 16% year-on-year, but it was positive 41% compared to the fourth quarter of the previous period that directly preceded it.

Progress toward the annual guidance is 25% in sales revenue and 23% in operating profit.

In addition to passing the higher cost to customer for the inflation, we are working for better transportation choice from cost optimization perspective in the demand increasing as well as stabilizing factory utilization with

having enough main-parts stock. We also accelerate global optimization of production and procurement as the part of GS26.

P&L Results

Revenue: Recovery in healthcare demand including number of procedures, return to growth trend. Positive FX (yen depreciation) impact, highest-ever quarterly revenue

Operating profit: Gross profit increased, even market conditions (inflation) caused a rise in costs. Meanwhile, activities resumed as planned amid emergence from COVID-19, resulting in 16% OP decreased.

100M JPY

FY21 Q1

FY22 Q1

YoY%

YoY% (FXN)

Revenue

1,717

1,973

15%

5%

Gross profit

943

1,016

8%

2%

%

(54.9%)

(51.5%)

SG&A Expenses

465

566

22%

10%

%

(27.1%)

(28.7%)

R&D Expenses

117

141

20%

11%

%

(6.8%)

(7.1%)

Other Income and Expenses

1

-6

-

-

Operating Profit

362

304

-16%

-14%

%

(21.1%)

(15.4%)

Adjusted Operating Profit

402

359

-11%

-11%

%

(23.4%)

(18.2%)

Profit before Tax

360

297

-18%

%

(21.0%)

(15.0%)

Profit for the Year

279

224

-20%

%

(16.2%)

(11.4%)

Average exchange rate (USD/EUR)

110JPY/132JPY

130JPY/138JPY

©TERUMO CORPORATION

4 / 22

Revenue was 197.3 billion yen, our highest-ever quarterly result. This was a 15% increase from the same quarter of the previous year. Positive growth was 5% when excluding FX.

Revenue growth absorbed part of the increase in manufacturing cost caused by inflation, but as activities that had been limited due to COVID-19 resumed, SG&A and R&D expenses rose, resulting in operating profit of

30.4 billion yen, which was a decrease from the same period of the previous year.

On the other hand, profit increased around 40% compared to the 4th quarter of the previous year. Please refer to Slide 14 of the reference materials for that trend.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Terumo Corporation published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 07:45:06 UTC.


© Publicnow 2022
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Sales 2023 793 B 5 538 M 5 538 M
Net income 2023 104 B 723 M 723 M
Net cash 2023 9 960 M 69,5 M 69,5 M
P/E ratio 2023 30,7x
Yield 2023 0,88%
Capitalization 3 199 B 22 336 M 22 336 M
EV / Sales 2023 4,02x
EV / Sales 2024 3,64x
Nbr of Employees 28 294
Free-Float 95,3%
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Number of Analysts 14
Last Close Price 4 239,00 JPY
Average target price 5 182,14 JPY
Spread / Average Target 22,2%
EPS Revisions
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Shinjiro Sato Senior Executive Officer
Naoki Muto Chief Financial & Accounting Officer
Toshiaki Takagi Chairman
Katsuya Takeuchi Chief Information Officer & Executive Officer
Kazuhisa Senshu Chief Clinical & Regulatory Affairs Officer
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