Takeda FY18 Profit Down, Revenues Climb
(RTTNews) - Takeda Pharmaceutical Co. Ltd. (TKPYY.PK), which acquired Shire Plc, reported Tuesday that its fiscal 2018 net profit attributable to shareholders declined 41.6 percent to 109.1 billion yen from last year's 186.9 billion yen. Earnings per share were 113 yen, down 52.6 percent from 239 yen last year. The results were mainly impacted by significant non-cash purchase accounting expenses.
Legacy Takeda's net profit, excluding Legacy Shire financials, climbed 67.4 percent to 312.9 billion yen from 186.9 billion yen last year. Earnings per share grew 66.6 percent to 399 yen.
The company's core earnings climbed 42.4 percent to 459.3 billion yen. Legacy Takeda's core earnings increased 21.9 percent to 393.3 billion yen.
The company noted that the strong performance in Legacy Takeda profit entirely absorbed Shire acquisition-related costs incurred in fiscal 2018.
Consolidated reported revenue increased 18.5 percent to 2.10 trillion yen. This was mainly due to the inclusion of Legacy Shire's results from January 8, 2019.
Legacy Takeda's revenue edged up 1 percent to 1.79 trillion yen. Underlying revenue growth for Legacy Takeda was solid at 5.3 percent, with significant contributions from key growth products such as ENTYVIO and NINLARO.
The company further said the integration of Shire is progressing as planned.
Takeda has also identified opportunities to realize greater cost synergies, and already have made progress on divestment strategy for non-core assets.