Aug 06, 2020 / 08:00AM GMT
Naoki Muto - Terumo Corporation - Chief Accounting & Financial Officer and Executive Officer
I am the CAFO, Muto. I will now explain the first quarter results for the fiscal year ending March 2021.
First, I will give an overview of the Terumo Group as a whole. In sales revenue, Cardiac and Vascular was impacted by COVID-19, but the impact on the General Hospital and Blood and Cell Technologies companies was very light, resulting in a 14% decrease in revenue for the Terumo Group and an 11% revenue decrease when excluding FX impact.
Group adjusted operating profit was greatly affected by the decrease in Cardiac and Vascular revenue because that company has high profitability.
In expenses, control of R&D spending that is important for mid- to long-term growth was only limited, and SG&A was reduced year-on-year due to COVID-19 restrictions on activities and due to our efforts to control nonurgent spending, leading to a 30% decline in adjusted operating profit and 31% in operating profit when excluding FX impact.
Profit for the year was 39% below the same
Q1 2021 Terumo Corp Earnings Call Transcript
Feb 15, 2024
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