bearish
Sumitomo Pharma (4506 JP): FY24 Guidance Revised Lower; Further Cost Cuts in FY25 to Turn Profitable
290 Views02 May 2024 18:30
SUMMARY
- Sumitomo Pharma (4506 JP) cut FY24 revenue guidance by 1% to ¥314.6B (-43% YoY) and raised operating loss guidance by ¥199B to ¥355B. Impairment loss of ¥180B negatively impacted bottomline.
- Sumitomo has set FY25 revenue guidance at ¥338B (down 27% from MTBP 2027) and core operating profit at ¥1B (down 98% from MTBP 2027). The company suspended FY25 dividend.
- The company will announce FY25 guidance for operating and net profits during the announcement of FY24 result, scheduled for May 14, 2024.
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Rising
Tina Banerjee
Global Healthcare Analyst
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