Financial Results for the First Quarter of Fiscal Year Ending March 31, 2024 (FY2023)

August 9, 2023

Naoki Muto

Chief Accounting and Financial Officer Terumo Corporation

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

2 / 13

Highlights

Revenue

Strong global demand continued for highest-ever quarter

C&V and TBCT grew in double digits to drive the Group overall

Operating profit

-1% YoY growth excluding FX. Steady progress toward annual guidance Effects of profitability improvement accrued (price policy and cost reduction)

Shareholder return

Will execute 20B JPY share repurchase this fiscal year

©TERUMO CORPORATION

3 / 13

P&L

Revenue: Strong global demand continued; Double-digit growth by TIS, Blood center business,

Vascular graft to drive the Group overall

Operating profit: Price policy revision and cost reduction effects accrued. Expanded OPEX for therapeutic devices

100M JPY

FY22 Q1

FY23 Q1

YoY%

YoY% (FXN)

Revenue

1,973

2,153

9%

5%

Gross profit

1,016

1,098

8%

5%

%

(51.5%)

(51.0%)

SG&A Expenses

566

651

15%

10%

%

(28.7%)

(30.2%)

R&D Expenses

141

154

10%

6%

%

(7.1%)

(7.2%)

Other Income and Expenses

-6

3

-

-

Operating Profit

304

296

-3%

-1%

%

(15.4%)

(13.8%)

Adjusted Operating Profit

359

345

-4%

-4%

%

(18.2%)

(16.0%)

Profit before Tax

297

298

0%

%

(15.0%)

(13.8%)

Profit for the Year

224

225

1%

%

(11.4%)

(10.5%)

Average exchange rate (USD/EUR)

130JPY/138JPY

137JPY/150JPY

©TERUMO CORPORATION

4 / 13

Margin Ratio Recovery from FY22 Q4

C&V: Cardiac and Vascular, TMCS: Medical Care Solutions, TBCT: Blood and Cell Technologies

Quarterly Adjusted Operating Profit Trend

24.9%

23.5%

20.6%

17.5%

11.8%

14.3%

9.7%

13.8%

8.6%

6.4%

4.9%

-5.1%

FY22 Q3

Q4

FY23 Q1

( ) FY23 Annual Guidance

Adjusted Operating Profit%

C&V (23.9%

TBCT 8.1%

Terumo*15.5%

TMCS 10.3%

* Operating profit% for Terumo

©TERUMO CORPORATION

5 / 13

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Terumo Corporation published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 06:38:02 UTC.