bearish
Sawai Group Holdings (4887 JP): FY23 Result Missed Guidance; FY24 Guidance Calls For Lower Profits
401 Views01 Jun 2023 15:27
SUMMARY
- Sawai Group Holdings (4887 JP) reported muted FY23 result, with all parameters missing guidance. Miss was due to the lower-than-expected performance in Japan, which contributed 82% of revenue.
- Sawai’s U.S. business revenue increased 22% YoY to ¥36.6B, beating guidance of ¥32.2B. The U.S. business is now back to profitability by reporting higher-than-expected operating profit of ¥930M.
- Sawai guided for 8% revenue growth in FY24. Core operating income is projected to decline due to the soaring raw material and energy prices and an increase in upfront costs.
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Tina Banerjee
Global Healthcare Analyst
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