Takeda Reports 1st Quarter FY2017 Results
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|
|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|
|EPS||147 yen||177 yen||+20.1%|
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
For more information, visit https://www.takeda.com/newsroom/.
Takeda Pharmaceutical Company Limited
Takeda Pharmaceutical Company Limited
Tsuyoshi Tada, +81 (0)3-3278-2417
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Pandora to Acquire Leading Digital Audio Ad Tech Firm AdsWizz21.3.2018 13:00 | Pressemelding
Pandora (NYSE: P), the largest music streaming service in the U.S., today announced it will acquire AdsWizz, the global leader in digital audio ad technology. The addition of AdsWizz will upgrade Pandora’s ad tech capabilities, provide its advertisers with greater audience reach, and expand the company’s revenue opportunities. AdsWizz is one of the few ad tech firms that is completely dedicated to digital audio, serving some of the largest players in the industry. With digital audio advertising growing 42% year-over-year, according to the IAB, the combined offering of Pandora and AdsWizz will capitalize on this trend, while making it easier for publishers to monetize their inventory, and for advertisers to buy and measure their campaigns. “Since I joined Pandora six months ago, I have highlighted ad tech as a key area of investment for us. Today we took an important step to advance that priority and accelerate our product roadmap,” said Roger Lynch, CEO of Pandora. “With our scale in a
Fintech Entrepreneur and myPOS Founder Christo Georgiev Reveals Plans to Set Up a Chain of myPOS Stores across Europe21.3.2018 12:51 | Pressemelding
Founder of myPOS, Christo Georgiev announces plans to open myPOS flagship stores across Europe in an effort to bring the service closer to its customers. Designed for small and mid-sized businesses, myPOS offers affordable payment acceptance tools, winning the trust of over 40,000 enterprises across the EEA & Switzerland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180321005596/en/ An interior view of the myPOS London Store (Photo: Business Wire) Until now, the operational framework of myPOS included a network of promoters in almost every European country and an online store, owned and operated by myPOS. The next logical step was to sell through physical stores. On 8th February 2018, myPOS opened doors to its first flagship store, located on 36 Knightsbridge, London and marked the beginning of a new era for myPOS. Soon after, plans were revealed for other openings in Europe with another location coming up on 5th April 201
AI Expo Europe: The leading Artificial Intelligence Event to Arrive in the European Capital of Innovation, Amsterdam21.3.2018 12:47 | Pressemelding
The AI Expo Europe is set to arrive in the hub of AI innovation, Amsterdam, The Netherlands, this Summer (27-28th June) with an aim of ‘delivering AI for a smarter future.’ The well-connected Dutch capital is known for its unique, rich culture and canal-side views and was even awarded the European Capital of Innovation in 2016 by the European Commission. The city’s AI scene is thriving with the arrival of a world-class artificial intelligence hub by early 2021 and venture capitalist investment. The AI hub will be created in collaboration with the University of Amsterdam (UvA) and the City of Amsterdam at the Amsterdam Science Park, a place where education, research and entrepreneurship will come together as one. Geert ten Dam, president of the UvA’s Executive Board stated that: “Amsterdam is widely recognised both in the Netherlands and abroad for its leading scientific expertise in the area of AI…” This press release features multimedia. View the full release here: https://www.busines
Philip Morris International Shifts Entire Capacity of Its Cigarette Factory in Greece to Smoke-Free Products21.3.2018 12:31 | Pressemelding
Philip Morris International Inc. (PMI) (NYSE: PM) announced today that the factory of its Greek affiliate (Papastratos) in Aspropyrgos, has ceased cigarette production and is now exclusively producing HEETS, the tobacco units used with IQOS, the company’s most advanced smoke-free product. This first full conversion of a cigarette factory is a landmark step in our vision of a smoke-free future where people who smoke switch from the most harmful form of nicotine consumption – cigarettes – to scientifically substantiated smoke-free alternatives. The EUR 300 million investment included the construction of three new buildings and the replacement of cigarette production lines with high-tech facilities capable of producing 10,000 smoke-free tobacco units per minute. The conversion of the factory started in August 2017. The facility is expected to be fully operational by the end of 2018 and will create 400 new jobs. André Calantzopoulos, PMI’s Chief Executive Officer said: “This is a historic
GSMA Advances a Comprehensive Agenda on Digital Inclusion for Women Ahead of G20 Summit21.3.2018 12:00 | Pressemelding
The GSMA is supporting the sixty-second meeting of the Commission on the Status of Women (CSW62) taking place at the United Nations Headquarters in New York this month1 as part of its commitment to the Sustainable Developments Goals (SDGs), particularly SDG 5 (Gender Equality). The GSMA’s role at the event reflects its status as Topic Chair of the Digital Inclusion theme within the W20 (Women 20) group2, which will advise the G20 member states on issues around gender equality and the economic empowerment of women. At CSW62, the GSMA and its partners will be convening parallel events across a range of topics in this area, bringing together companies in the mobile ecosystem, governments, UN agencies and NGOs. “Developing forward-looking policies that promote digital inclusion for women is vital to achieving gender equality, serving to empower women in all corners of the world as well as providing an effective catalyst for economic growth,” said Mats Granryd, Director General of the GSMA.
fundinfo Launches New Fund News Service in Cooperation with UBS21.3.2018 08:00 | Pressemelding
To provide investors with up-to-date information and views from the fund managers with which they are invested fundinfo has launched a new service, in cooperation with UBS Global Wealth Management, that enables fund providers to publish fund-specific news in an automated and systematic way. The new service, known as News Dissemination, allows fund managers to provide their insights on the impact of recent market or political event – information not typically available in most fund documents. It is fully integrated into UBS's client-facing applications such as UBS eBanking, UBS Quotes, and Wealth Management Online (WMO). The service can also be integrated by other distributors. The easy-to-manage service, allows fund managers to create, edit and archive their news via a web-based fundinfo content management system, giving them complete control at all times. "This is a game changer. It's the first time fund providers have the opportunity to deliver ad-hoc and near real-time insights on t