Terumo Corporation · TSE:4543

Terumo — Q3 2026 Earnings Presentation

24 slides from Terumo's earnings presentation, Feb 13, 2026

  1. Slide 1: Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2026 (FY2025)

    Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2026 (FY2025) Jin Hagimoto Chief Financial Officer Terumo Corporation Feb. 13, 2026

  2. Slide 2: Forward-Looking Statements and Use of Document

    Forward-Looking Statements and Use of Document Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performanc

  3. Slide 3: Highlights: Strong Earnings Results Exceeding Guidance

    Highlights: Strong Earnings Results Exceeding Guidance Revenue Highest ever results both for the quarter and the Q3 YTD Strong sales led by North America, with 9% growth excluding FX impact Profit Operating profit, adjusted operating profit, and profit for the period all reached record highs for the

  4. Slide 4: P&L, FCF

    P&L, FCF Revenue: Driven by TIS and Global Blood Solutions, particularly in North America Operating profit: While tariff impacts were fully realized from Q3, Q3 YTD profit margin exceeded last year and achieved growth outpacing revenue Change 100M JPY FY24 Q3 YTD FY25 Q3 YTD Change excluding FY24 Q3

  5. Slide 5: OP Variance Analysis (Q3): Growth due to strong sales

    OP Variance Analysis (Q3): Growth due to strong sales 103 (100M JPY) G/P increment by sales increase: -24 9 TIS and GBS led the overall growth Gross 591 margin/ -33 -11 -6 Gross margin/Price: 553 R&D Price Pricing measures partially offset the rising SG&A M&A FX G/P increment tariff impact by (Key c

  6. Slide 6: OP Variance Analysis (Q3 YTD): Contribution from pricing measures and strong sales

    OP Variance Analysis (Q3 YTD): Contribution from pricing measures and strong sales 285 17 (100M JPY) G/P increment by sales increase: 29 TIS and GBS led the overall growth Gross 1,735 margin -141 -11 -36 Gross margin/Price: 1,593 /Price R&D Pricing measures, particularly in C&V, M&A SG&A FX G/P incr

  7. Slide 7: C&V: TIS led the way, continued expansion mainly in North America

    C&V: TIS led the way, continued expansion mainly in North America (C&V: Cardiac and Vascular) (100M JPY) Q3 YTD Q3 Q3 YTD Comments YoY ( ) FX Neutral TIS : Achieved double-digit growth across all +226 4,968 Terumo product areas in US excluding FX 4,641 4,077 Interventional impact, driven by volume i

  8. Slide 8: TMCS: Increased sales in PS contributed to revenue and profit growth

    TMCS: Increased sales in PS contributed to revenue and profit growth* (TMCS: Medical Care Solutions) (100M JPY) Q3 YTD Q3 Q3 YTD Comments YoY ( ) FX Neutral HCS : In Japan, pricing measures -12 1,597 1,632 1,473 Hospital Care progressed smoothly, but revenue Solutions declined due to business transf

  9. Slide 9: TBCT: Plasma innovation drove revenue growth, supported improved profitability

    TBCT: Plasma innovation drove revenue growth, supported improved profitability (TBCT: Blood and Cell Technologies) (100M JPY) Q3 YTD Q3 Q3 YTD Comments YoY ( ) FX Neutral 1,685 GBS : Rika (source plasma collection system) +190 1,482 Global increased significantly in addition to 1,278 Blood strong sa

  10. Slide 10: OrganOx: Rapid revenue growth by increasing liver transplants and market share

    OrganOx: Rapid revenue growth by increasing liver transplants and market share (100M JPY) Q3 (Nov-Dec) Q3 YTD Comments 130 Consolidated Revenue: Results* +50%* growth year-on-year 21% • Growth supported by an increase in Revenue: 89 liver transplant volumes and 2.9 B JPY customer base expansion *Exc

  11. Slide 11: Revenue by Region: Americas strongly drove overall growth

    Revenue by Region: Americas strongly drove overall growth FY25 Q3 YTD Revenue (100M JPY) Comments FY25 Q3 YTD YoY change Regional ( ) FX Neutral breakdown Q3 YTD Q3 All Companies continued to see robust demand, FY23 2,382 845 with TIS, PS, and GBS driving the Americas to Americas FY24 2,906 11% doub

  12. Slide 12: Toward Achieving FY25/GS26 and Beyond

    Toward Achieving FY25/GS26 and Beyond Operating profit of existing businesses are making steady progress toward the FY26 target of 20% 22.0% Key Initiatives OP%* based on existing businesses 20.0% OP OP% ◼ Expanding businesses that support 20.0% 1,577 18.7% (100M JPY) sustainable profit growth 17.5%

  13. Slide 13: References

    References ©TERUMO CORPORATION 13

  14. Slide 14: P&L (QoQ)

    P&L (QoQ) (100M JPY) FY24 Q3 Q4 FY25 Q1 Q2 Q3 (Oct-Dec) (Jan-Mar) (Apr-Jun) (Jul-Sep) (Oct-Dec) Revenue 2,636 2,639 2,600 2,750 2,966 Gross Profit 1,451 (55.1%) 1,385 (52.5%) 1,455 (56.0%) 1,470 (53.5%) 1,532 (51.6%) SG&A Expenses 777 (29.5%) 818 (31.0%) 755 (29.1%) 808 (29.4%) 869 (29.3%) R&D Expen

  15. Slide 15: SG&A (QoQ)

    SG&A (QoQ) (100M JPY) FY24 Q3 Q4 FY25 Q1 Q2 Q3 (Oct-Dec) (Jan-Mar) (Apr-Jun) (Jul-Sep) (Oct-Dec) Salaries & Wages 406 430 406 421 447 Sales Promotion 54 60 55 53 61 Logistics Costs 56 57 57 59 58 Depreciation and Amortization 70 71 68 70 76 Others 190 200 169 205 228 SG&A Expenses Total 777 818 755

  16. Slide 16: SG&A (YoY)

    SG&A (YoY) (100M JPY) YoY% FY24 Q3 FY25 Q3 YoY YoY％ excluding FX FY24 Q3 FY25 Q3 YoY YoY％ YTD YTD impact Salaries & Wages 1,188 1,274 86 7% 9% 406 447 41 10% Sales Promotion 153 169 16 10% 11% 54 61 7 12% Logistics Costs 166 173 8 5% 6% 56 58 1 2% Depreciation and 207 215 7 4% 5% 70 76 6 8% Amortiza

  17. Slide 17: Adjusted Operating Profit: Adjustments

    Adjusted Operating Profit: Adjustments (100M JPY) FY24 Q3 YTD FY25 Q3 YTD FY24 Q3 FY25 Q3 Adjusted Operating Profit 1,593 1,735 553 591 Adjustment 1. Amortization of acquired intangible assets -161 -171 -52 -71 Adjustment 2. Non-recurring profit or loss -97 -115 -43 -81 Operating Profit 1,335 1,449

  18. Slide 18: Adjusted Operating Profit: Quarterly Trend

    Adjusted Operating Profit: Quarterly Trend (100M JPY) FY25 Q1 Q2 Q3 Q4 FY26 （Assumptions） （Assumptions） Adjusted Operating Profit 591 553 591 Adjustment 1. Amortization of acquired -51 -50 -71 -68 intangible assets Existing Amortization -51 -50 -60 -52 Amortization of OrganOx（provisional） - - -10 -1

  19. Slide 19: CAPEX, Depreciation and Amortization, R&D Expenses

    CAPEX, Depreciation and Amortization, R&D Expenses (100M JPY) FY25 Q3 FY25 FY22 FY23 FY24 YTD Guidance CAPEX 758 784 825 715 950 Depreciation and Amortization 635 702 781 631 870 Amortization of 188 200 210 172 240 acquired intangible assets Others 447 502 571 459 630 CAPEX = Construction in progres

  20. Slide 20: Free Cash Flow

    Free Cash Flow (100M JPY) 689 1,466 -391 85 1,419 M&A Depreciation and Income taxes, -430 Other and Others Amortization etc. operating Working CF -613 capital FCF gains and CAPEX losses FY25 Q3 YTD Operating CF Profit before tax -2,545 -1,738 YoY +148 +50 +45 -249 -17 -23 -104 -2,550 -2,677 ©TERUMO

  21. Slide 21: Cash Flow (Q3)

    Cash Flow (Q3) Operating CF Investing and Financing CF (100M JPY) +400 -191 261 454 -167 2,398 Dividend Depreciation and Income taxes, -148 -2,218 44 2,380 Amortization etc. Working -194 -221 2,172 capital Others gains and CAPEX Income from Profit losses borrowings before tax Expenditures related to

  22. Slide 22: Cash Flow (Q3 YTD)

    Cash Flow (Q3 YTD) Operating CF Investing and Financing CF (100M JPY) +1,419 -1,258 689 1,466 -391 Depreciation -345 Expenditures Income from and Income taxes, related to M&A borrowings Amortization etc. -613 2,398 Dividends Working capital CAPEX Others 2,380 2,219 gains and -412 -1 losses Profit be

  23. Slide 23: Foreign Exchange Sensitivity

    Foreign Exchange Sensitivity Annual impact of 1 JPY depreciation (Flow) (100M JPY) USD EUR CNY Revenue 28 12 40 +20% Adjusted Operating Profit (+8%) 3 6 23 1,349 Impact of 1 JPY depreciation (Stock) (100M JPY) 1,198 2,049 USD EUR CNY 38% Adjusted Operating Profit (+13%) -3.0 -1.0 -2.5 ©TERUMO CORPOR

  24. Slide 24: ~“TERUMO

    ~“TERUMO

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