Takeda Reports Strong First Quarter FY2023 Results, Driven by Growth & Launch Products
No Change to Full-Year Forecasts or Management Guidance
Revenue Growth of +8.9% at Actual Exchange Rate (AER); +3.7% Growth at Constant Exchange Rate (CER), Driven by Growth & Launch Products (+16.2% at CER)
Reported Operating Profit Growth of +12.0% at AER; Core Operating Profit Decline of -2.0% at CER Reflecting Generic Impact, Lower Demand for Coronavirus Vaccines and Increased Investment in R&D and Data & Technology
Core Operating Profit Margin of 30.8%
Anticipated Pipeline Advances with 8 Key Regulatory Decisions Expected by End of FY2023, Furthering Commitment to Delivering Life-transforming Medicines to Patients
Takeda chief financial officer, Costa Saroukos, commented:
“Our Growth & Launch Products continued to drive revenue growth in the first quarter of FY2023, contributing to a core operating profit margin of 30.8%. While we still anticipate headwinds affecting our business this fiscal year, largely due to generic competition, we remain confident of a return to growth in the near-term.”
“Our growing product portfolio and innovative pipeline demonstrate the value of our strategic investments to strengthen our long-term competitiveness and enable our vision of discovering and delivering life-transforming treatments.”
Results for FY2023 Q1 Ended June 30, 2023
(To view the table, please visit https://bwnews.pr/3DzsQk5)
FY2023 Outlook (unchanged from May 2023)
(To view the table, please visit https://bwnews.pr/3DzsQk5)
Additional Information About Takeda’s Q1 Earnings Results
For more details on Takeda’s FY2023 Q1 results and other financial information, including key assumptions in FY2023 forecast and management guidance, please visit: https://www.takeda.com/investors/financial-results/.
For more information on Takeda’s commercial progress across the five key business areas and pipeline updates, please visit: https://takeda.info/qr2023_q1_qfr_en
Takeda is focused on creating better health for people and a brighter future for the world. We aim to discover and deliver life-transforming treatments in our core therapeutic and business areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and are grounded in the values that have defined us for more than two centuries. For more information, visit www.takeda.com.
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Financial information and Certain Non-IFRS Financial Measures
Takeda’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
This press release and materials distributed in connection with this press release include certain financial measures not presented in accordance with IFRS, such as Core Revenue, Core Operating Profit, Core Net Profit, Core EPS, Constant Exchange Rate (“CER”) change, Net Debt, EBITDA, Adjusted EBITDA and Free Cash Flow. Takeda’s management evaluates results and makes operating and investment decisions using both IFRS and non-IFRS measures included in this presentation. These non-IFRS measures exclude certain income, cost and cash flow items which are included in, or are calculated differently from, the most closely comparable measures presented in accordance with IFRS. By including these non-IFRS measures, management intends to provide investors with additional information to further analyze Takeda’s performance and core results, including when controlling for the effect of fluctuations in exchange rates. Takeda’s non-IFRS measures are not prepared in accordance with IFRS and such non-IFRS measures should be considered a supplement to, and not a substitute for, measures prepared in accordance with IFRS (which we sometimes refer to as “reported” measures). Investors are encouraged to review the definitions and reconciliations of non-IFRS financial measures to their most directly comparable IFRS measures, which are in the financial appendix at the end of Takeda's FY2023 Q1 investor presentation (available at takeda.com/investors/financial-results).
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Please refer to slide 14 of Takeda’s FY2023 Q1 investor presentation (available at takeda.com/investors/financial-results) for the definition of Growth & Launch Products.
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