bearish
Astellas Pharma (4503 JP): Fx Drives FY24 Revenue; Impairment Loss Dents Profits; Pain to Continue
522 Views26 Apr 2024 23:29
SUMMARY
- Astellas Pharma (4503 JP) reported ¥85B revenue increase in FY24 over FY23, while Fx impacted the revenue positively by ¥96B. In local currency terms, the U.S. revenue declined 5% YoY.
- FY24 operating and net profit declined 80%+, due to amortization and impairment loss of intangible assets. Astellas is changing accounting policy to smoothen core operating and net profits in FY25.
- For FY25, Astellas guided for just 3% revenue growth. Core operating profit is expected to decline 10%, while net profit is anticipated to take a bigger hit and decrease 17%.
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Tina Banerjee
Global Healthcare Analyst
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