- Strong first half performance with double-digit EPS growth; raising full-year outlook despite second half headwinds
Underlying Revenue growth of 6.7% led by Takeda's Growth Drivers
Double-digit EPS growth reflecting strong revenue growth and progress of Global Opex Initiative
Net leverage improved due to steady progress on cash flow
Christophe Weber, Chief Executive Officer of Takeda, commented:
"Our Growth Drivers continued to deliver robust double-digit revenue growth, which together with our cost management initiatives led to a significant margin expansion. Furthermore, the ARIAD acquisition is delivering ahead of expectations, and the R&D transformation is well advanced. Although we expect headwinds in the second half of the year, we are still confident to raise our outlook for the full year as we execute against our key mid-term priorities of growing the portfolio, rebuilding the pipeline, and boosting profitability."
Reported Results for H1 (April - September) FY2017
(billion yen) | FY2016 H1 | FY2017 H1 | Growth | |
Reported | Underlying2 | |||
Revenue | 850.8 | 881.4 | +3.6% | +6.7% |
Core Earnings1 | 131.0 | 187.1 | +42.8% | +44.4% |
Operating Profit | 162.1 | 234.3 | +44.6% | - |
Net Profit3 | 124.3 | 172.8 | +39.0% | - |
EPS | 159 yen |
221 yen | +39.2% | - |
Core EPS | 139 yen | 181 yen | +30.0% | +29.9% |
1 Core Earnings is calculated by deducting SG&A expenses and R&D expenses from reported Gross Profit. 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.
3 Attributable to the owners of the company.
Takeda raises its full-year outlook despite second half headwinds
FY2017 Management Guidance: Raising underlying profit guidance and Core Earnings margin expansion now expected at ~200bps
Previous Guidance (growth %) (May 10, 2017) |
Revised Guidance (growth %) (Nov 1, 2017) |
|
Underlying Revenue | Low single digit | Low single digit |
Underlying Core Earnings | Mid-to-high teen | High teen |
Underlying Core EPS | Low-to-mid teen |
Mid teen |
Annual Dividend per Share | 180 yen | 180 yen |
FY2017 Reported Forecast: Increasing Reported Revenue and Earnings forecasts, with EPS increased by 10% to 195 yen per share
(billion yen) |
Previous Forecast |
Revised Forecast |
vs. FY2016 |
Revenue |
1,680.0 |
1,720.0 |
-0.7% |
Core Earnings |
257.5 |
267.5 |
+9.1% |
Operating Profit |
180.0 |
200.0 |
+28.3% |
Net Profit |
138.0 |
152.0 |
+32.2% |
EPS |
177 yen |
195 yen |
+32.3% |
Exchange Rate (annual average) |
1 US$=110 yen 1 euro=120 yen |
1 US$=112 yen 1 euro=129 yen |
|
For more details on Takeda's FY2017 first half 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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Media Relations
Tsuyoshi Tada, +81 (0)3-3278-2417
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