Friday, July 29, 2022

Takeda Delivers Strong First Quarter FY2022 Results; On Track Towards Full-Year Management Guidance

 -Q1 FY2022 Results Demonstrate a Strong Start to the Year with Core Revenue Growth at Constant Exchange Rate (CER) of +8.3% (Reported Revenue +2.4%)

-Growth and Launch Products Delivering Revenue Growth of +26% at CER

-Core Operating Profit Growth of +17% at CER, Core Operating Profit Margin 32.8%

-Reported Revenue and Operating Profit Growth Affected by One-time Gain Booked in Q1 of Prior Year from Sale of Diabetes Portfolio in Japan

-Continued Resilience in Challenging Macro Environment

(BUSINESS WIRE)--Takeda (TOKYO:4502/NYSE:TAK) today announced strong financial results for the first quarter of fiscal year 2022 (period ended June 30, 2022) and is on track to meet its full-year management guidance.

The gain on the sale of Takeda’s Japan diabetes portfolio in the first quarter of the previous fiscal year has impacted reported financial results on a year-over-year basis, as expected. The sale contributed a one-off 133 billion yen to revenue and 131.4 billion yen to operating profit in Q1 FY2021. This impact is excluded from core financial results; the Company delivered +8.3% core revenue growth and +17% core operating profit growth at CER this quarter, with a core operating profit margin of 32.8%.

Takeda chief financial officer, Costa Saroukos, commented: “Takeda has delivered strong first quarter performance with Growth and Launch Products continuing to drive robust core revenue growth. Our results reflect continued momentum and solid commercial execution across key business areas.”

“First quarter results also reflect the impact of the last of our major non-core divestitures in the prior year. The sale of the Japan diabetes portfolio in FY2021 is the main factor behind the year-over-year decline in reported operating profit and is the only difference between reported and core revenue growth in our Q1 FY2022 results.”

“Foreign exchange has been a tailwind for our performance in the first quarter, while our portfolio momentum and prudent cost management have allowed us to improve our core operating profit margin despite rising inflation and other emerging macro challenges. We also remain resilient amid the outlook for increasing interest rates as approx. 98% of our debt is now secured at fixed interest rates averaging approx. 2%.”

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