Terumo Corporation · TSE:4543

Terumo — Q1 FY2015 Earnings Presentation

19 slides from Terumo's earnings presentation, Aug 4, 2015

  1. Slide 1: Financial Results for the First Quarter of Fiscal Year Ending March 31, 2016 (FY2015)

    Financial Results for the First Quarter of Fiscal Year Ending March 31, 2016 (FY2015) Terumo Corporation Senior Executive Officer, Investor Relations, Corporate Communication Dept. Kazuaki Kitabatake August 4, 2015

  2. Slide 2: Overview: Double Digit Growth Both in Sales and Profit

    Overview: Double Digit Growth Both in Sales and Profit (billion yen) FY14 Q1 FY15 Q1 YoY% YoY% (Excl. FX) Net Sales 114.9 128.7 +12% +5% Gross Profit 60.7 (52.8%) 69.0 (53.7%) +14% +7% SG&A Expenses 37.9 (33.0%) 41.7 (32.5%) +10% +2% R&D Expenses 6.7 ( 5.8%) 7.9 ( 6.1%) +18% +10% Operating Income 16

  3. Slide 3: Extraordinary Gains & Losses, Income Taxes

    Extraordinary Gains & Losses, Income Taxes (billion yen) FY2014 FY2015 Q1 Q1 Ordinary Income 14.4 20.6 YoY%: +43% FY2014 Extraordinary Loss on disposal of -0.7 +0.04 fixed asset -0.3 Gains & Losses Impairment loss -0.4 Income before Income Tax 13.8 20.6 YoY%: +50% Income Taxes Total -5.4 -6.1 Tax sy

  4. Slide 4: Operating Income Variance Analysis

    Operating Income Variance Analysis 0.7 (billion yen) 1.4 Increase 0.8 G/P of R&D 0.8 improve- for Inter- SG&A Product ment by ventional Increase 2.1 mix cost Systems due to sales Improve- reduction, force 4.3 etc expansion ment Price 19.4 in US Inter- erosion ventional 0.4 G/P Systems increment and

  5. Slide 5: Net Sales by Region

    Net Sales by Region FY15 Q1 FY14 Q1 ( ) Excluding FX Outside (billion yen) of Japan 25.9 Europe 84.7 -1% (+2%) 26.0 +18% (+8%) 35.9 34% Americas +26% (+7%) 28.4 Consolidated 12% (+5%) 9.0 66% China Japan +73% (+45%) 5.2 44.0 14.0 +1% Asia & Others 11.9 +17% (+6%)  Japan: General Hospital drove incr

  6. Slide 6: Net Sales by Business Segment

    Net Sales by Business Segment FY15 Q1 FY14 Q1 (billion yen) ( ) Excluding FX Blood 63.2 Cardiac & Vascular Management Cardiac & +18% (+9%) 53.5 20% Vascular 49% 39.5 General Hospital 38.0 +4% (+2%) General 26.0 Blood Management Hospital 23.5 +11% (+3%) 31%  Achieve increase in sales for all compani

  7. Slide 7: Cardiac & Vascular: Double-digit Growth in Sales and Profit

    Cardiac & Vascular: Double-digit Growth in Sales and Profit (Billion yen) YoY% FY14 Q1 FY15 Q1 YoY% (Excl. FX) Sales 53.5 63.2 +18% +9% Business Profit (%) 11.4 (21%) 14.1 (22%) +24% +22% <Sales>  Increase in sales for overseas IS and Neurovascular businesses + 7.2 BJPY  In China, complete local d

  8. Slide 8: General Hospital: Profitability in Recovery Trend

    General Hospital: Profitability in Recovery Trend (Billion yen) YoY% FY14 Q1 FY15 Q1 YoY% (Excl. FX) Sales 38.0 39.5 +4% +2% Business Profit (%) 4.6 (12%) 5.6 (14%) +23% +25% <Sales>  Japan: changes in the healthcare market environment shows a trend of returning + 1.3 BJPY  Progress in portfolio r

  9. Slide 9: Blood Management: Businesses in Emerging Countries and Therapeutic Apheresis Drive Growth

    Blood Management: Businesses in Emerging Countries and Therapeutic Apheresis Continuously Drives Growth (Billion yen) YoY% FY14 Q1 FY15 Q1 YoY% (Excl. FX) Sales 23.5 26.0 +11% +3% Business Profit (%) 4.2 (18%) 5.4 (21%) +28% +35% <Sales>  Continue to grow therapeutic apheresis and cell expansion sy

  10. Slide 10: Topics

    Topics  Transitions to a company with an audit/supervisory committee to enhance corporate Corporate governance  Introduces 6 CXO positions to strengthen global management infrastructure  U.S. FDA grants PMA (Premarket approval) to peripheral stent, “Misago”, as the first PMA-approved product deve

  11. Slide 11: New Product Pipeline for FY2015

    New Product Pipeline for FY2015 Business Product Region Launch Business Product Region Launch New DES Disposable centrifugal pump ◎◎★ JP CV JP (Ultimaster) (for PCPS) Coronary EU, Latin Blood Automated blood component New aspiration catheter A, Asia ★ JP Management processing system Stent (above the

  12. Slide 12: Reference

    Reference © Terumo Corporation 2015/8/4 12/19

  13. Slide 13: FY15 Q1 Net Sales and Growth by Region

    FY15 Q1 Net Sales and Growth by Region (Billion yen) Business Outside of Japan Japan G. Total Segment Subtotal Europe Americas China Asia Cardiac & 11.3 (-4%) 51.9 (+12%) 16.9 (+5%) 21.9(+12%) 7.1 (+42%) 6.0 (+13%) 63.2 (+9%) Vascular Out of C&V Interventional 8.5 (-7%) 41.0 (+17%) 13.6 (+7%) 15.8(+

  14. Slide 14: Operating Expenses

    Operating Expenses (Billion yen) FY14 Q1 FY15 Q1 YoY YoY% YoY% (Excl. FX) Salaries & Wages 16.9 19.1 +2.2 +13% Sales Promotion 3.7 4.1 +0.4 +8% Logistical Costs 2.7 2.8 +0.1 +3% Depreciation & 5.9 6.9 +1.0 +17% Amortization Others 8.7 8.8 +0.1 +3% SG&A Expenses Total 37.9 (33.0%) 41.7 (32.5%) +3.8 +

  15. Slide 15: Quarterly Results

    Quarterly Results (Billion yen) FY14 Q1 Q2 Q3 Q4 FY15 Q1 (Apr-Jun) (Jul-Sep) (Oct-Dec) (Jan-Mar) (Apr-Jun) Net Sales 114.9 118.4 129.9 126.3 128.7 Gross Profit 60.7 (52.8%) 62.3 (52.6%) 67.8 (52.2%) 65.4 (51.7%) 69.0 (53.7%) SG&A Expenses 37.9 (33.0%) 38.5 (32.5%) 40.5 (31.2%) 42.4 (33.5%) 41.7 (32.

  16. Slide 16: CAPEX, R&D Expenses

    CAPEX, R&D Expenses (Billion yen) FY2015 FY2015 Q1 Progress to Guidance Result Guidance CAPEX 42.0 8.0 19% Depreciation & Amortization * 45.0 10.9 24% R&D Expenses 35.0 7.9 22% Depreciation & Amortization: Including intangibles CAPEX: Acquisition basis © Terumo Corporation 2015/8/4 16/19

  17. Slide 17: Cash Flow

    Cash Flow Corporate tax burden is greater in Q1 (Billion yen) Operating CF Investing and Financing CF +4.7 -9.4 10.9 19.0 Depreci- ation & Amorti- Corpo- 20.6 zation rate tax 7.8 and others Increase Income (for 6 months) 8.0 in working before capital tax and 129.7 others CAPEX 6.1 4.7 * Dividend Oth

  18. Slide 18: Foreign Exchange Sensitivity

    Foreign Exchange Sensitivity (Billion yen) US$ EUR Net Sales 1.8 0.7 Operating Income 0.1 0.2  For US$, sales expansion in U.S. drove higher FX sensitivity at sales. However, the increase in overseas production ratio since acquisition of Caridian BCT resulted in less impact of yen depreciation agai

  19. Slide 19: IR Contact

    IR Contact Terumo Corporation Corporate Communication (IR) Dept. E-mail: kouhou_terumo01@terumo.co.jp 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 i

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