bullish
2024 High Conviction Update: Asahi Intecc (7747 JP)- Strong H1 Performance; FY24 Guidance Reaffirmed
439 Views18 Feb 2024 01:30
SUMMARY
- Asahi Intecc (7747 JP) announced better-than-expected result in H1FY24, with double-digit growth across all major parameters. Growth was driven by favorable Fx, recovery and expansion of cases, and strong demand.
- Revenue from medical division increased 22% YoY to ¥48B. Operating income of the medical division increased 52% YoY to ¥13B, representing 540bps YoY margin expansion to 27.3%.
- Asahi Intecc has not revised FY24 guidance as it is difficult to forecast currency movements and revenue from distributors in medical division due to volatility of quarterly transactions.
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Tina Banerjee
Global Healthcare Analyst
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