1st Quarter of Fiscal 2021 Financial Results
Conference Call
August 2, 2021
Shionogi & Co., Ltd.
Agenda
- Overview of Q1 FY2021 Financial Results (P.3-9)
- Main Activities and Achievements in Q1 FY2021(P.10-19)
2
1. Overview of Q1 FY2021 Financial Results
Financial Results (Consolidated)
Revenue Operating profit Core operating profit* Profit before tax Profit attributable to owners of parent
FY2021 | FY2020 | (Unit: B yen) | |||||
Y on Y | |||||||
Forecasts | Apr.-Jun. | Achievement | Apr.-Jun. | Change | Change | ||
Full year | 1H | results | (%) | results | (%) | ||
290.0 | 135.0 | 69.0 | 51.1 | 71.4 | (3.4) | (2.4) |
90.0 | 38.5 | 18.8 | 48.8 | 28.6 | (34.2) | (9.8) |
90.0 | 38.5 | 19.4 | 50.3 | 25.9 | (25.0) | (6.5) |
115.0 | 48.5 | 22.9 | 47.3 | 33.0 | (30.5) | (10.1) |
100.0 | 49.5 | 32.2 | 65.1 | 24.5 | 31.6 | 7.7 |
- Revenue and profit at each level is in line with the forecast for 1H
- Continued to actively invest primarily in European launches of cefiderocol and in projects related to COVID-19
- Profit attributable to owners of parent was higher than the same period actuals a year earlier
- Reflecting a refund resulting from finally prevailing in court regarding cancellation of correction disposition from Osaka Regional Taxation Bureau
Exchange Rate | FY2021 | FY2021 |
Apr.-Jun. | ||
(average) | forecasts | |
results | ||
USD ($) - JPY (¥) | 105 | 109.52 |
GBP (£) - JPY (¥) | 145 | 153.20 |
EUR (€) - JPY (¥) | 128 | 131.94 |
* Operating profit adjusted for one-time factors (impairment losses, gain on sale | 4 |
of property, plant and equipment, etc.) |
Statement of Profit or Loss (Consolidated)
(Unit: B yen) | ||||||||||||||
Main Variation Factors (Y on Y) | ||||||||||||||
FY2021 | FY2020 | Y on Y | ||||||||||||
• | Revenue | |||||||||||||
Forecasts | Apr.-Jun. | Achieve | Apr.-Jun. | Change | Change | |||||||||
Full year | 1H | - Increase in sales of prescription drugs and overseas | ||||||||||||
results | ment (%) | results | (%) | |||||||||||
Revenue | 290.0 | 135.0 | 69.0 | 51.1 | 71.4 | (3.4) | (2.4) | subsidiary/export | ||||||
- Decrease in royalty income (mainly Crestor®) | ||||||||||||||
19.8 | 18.5 | 17.9 | ||||||||||||
Cost of sales | 16.1 | • | Cost of sales | |||||||||||
57.5 | 25.0 | 12.3 | 49.3 | 11.5 | 7.3 | 0.8 | ||||||||
- Increased due to the acquisition of Nagase Medicals | ||||||||||||||
Gross profit | 232.5 | 110.0 | 56.6 | 51.5 | 59.9 | (5.5) | (3.3) | (contracted manufacturing) as a consolidated | ||||||
Selling general & | 30.7 | 32.6 | 32.7 | 30.4 | subsidiary in 3Q of the previous year | |||||||||
administrative | 89.0 | 44.0 | 22.6 | 51.3 | 21.7 | 4.1 | 0.9 | • | Selling general & administrative expenses | |||||
expenses | - Increase in preparation for launch and sales activity | |||||||||||||
R&D expenses | 17.9 | 18.5 | 21.4 | 17.0 | costs for Fetcroja® in Europe | |||||||||
52.0 | 25.0 | 14.7 | 58.9 | 12.2 | 21.1 | 2.6 | • | R&D | ||||||
Other income & | (1.5) | (2.5) | (0.5) | 21.7 | 2.5* | (121.6) | (3.0) | - Accelerating of R&D activities centered on COVID- | ||||||
19 vaccine (S-268019),COVID-19 therapeutic drugs | ||||||||||||||
expenses | and 8 core projects | |||||||||||||
31.0 | 28.5 | 27.3 | 40.0 | |||||||||||
Operating profit | • | Other income & expenses | ||||||||||||
90.0 | 38.5 | 18.8 | 48.8 | 28.6 | (34.2) | (9.8) | ||||||||
- Recognized gain on step acquisitions for Tetra in 1Q | ||||||||||||||
31.0 | 28.5 | 28.1 | 36.2 | |||||||||||
Core operating profit** | of the previous year (about 2.9 B yen) | |||||||||||||
90.0 | 38.5 | 19.4 | 50.3 | 25.9 | (25.0) | (6.5) | ||||||||
- Interest on refund from Osaka Regional Taxation | ||||||||||||||
Finance income & costs | 25.0 | 10.0 | 4.1 | 41.5 | 4.4 | (6.7) | (0.3) | Bureau (about 0.9 B yen) | ||||||
• | Profit attributable to owners of parent | |||||||||||||
Profit before tax | 39.7 | 35.9 | 33.3 | 46.2 | ||||||||||
115.0 | 48.5 | 22.9 | 47.3 | 33.0 | (30.5) | (10.1) | - Received a refund regarding a favorable Judgement | |||||||
on the complaint for the rescission of tax | ||||||||||||||
Profit attributable to | 100.0 | 49.5 | 32.2 | 65.1 | 24.5 | 31.6 | 7.7 | reassessment by Osaka Regional Taxation | ||||||
owners of parent | Bureau(about 13.5 billion yen) | |||||||||||||
* The provisional accounting for business combinations with Tetra was finalized in FY2020, the financial results for 1Q of | ||||||||||||||
previous fiscal year have been retroactively adjusted | ||||||||||||||
** Operating profit adjusted for one-time factors (impairment losses, gain on sale of property, plant and equipment, etc.) 5 |
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Shionogi & Co. Ltd. published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 07:01:04 UTC.