Takeda net profit down, revenues climbChristian Fernsby ▼ | May 13, 2020
Takeda Pharmaceutical reported Wednesday that its fiscal 2019 net profit attributable to owners of the company declined 67.3 percent to 44.24 billion Japanese yen from last year's 135.19 billion yen.
Takeda Operating profit fell 57.8 percent
On a pre-tax basis, the company recorded loss of 60.75 billion yen, compared to last year's profit of 127.61 billion yen.
Operating profit fell 57.8 percent to 100.41 billion yen. Core operating profit increased 110 percent year-on-year to 962 billion yen.
Revenue of 3.29 trillion yen climbed 57 percent from last year's 2.10 trillion yen, in first full year following acquisition of Shire.
Further, Takeda raised its cost synergy target to $2.3 billion and is on track to deliver on its targets to rapidly pay down debt and continue to divest non-core assets.
Looking ahead for fiscal 2020, the company expects earnings per share of 39 yen, core earnings per share of 420 yen, and operating profit to more than triple to 355 billion yen. Core operating profit would be 984 billion yen. Core operating margin would be 30.3 percent, higher than last year.
Takeda expects underlying core operating profit growth in the high single digits and underlying core earnings per share growth in the low teens.
Revenue is expected to be 3.25 trillion yen for the year. ■