Financial Information | Anritsu Europe

1. Trend of Results

International Financial Reporting Standards (IFRS)

(Millions of yen)

	2019/3	2020/3	2021/3	2022/3	2023/3
Revenue	99,659	107,023	105,939	105,387	110,919
Change %	15.9%	7.4%	-1.0%	-0.5%	5.2%
Operating Profit	11,246	17,413	19,651	16,499	11,746
Change %	128.9%	54.8%	12.8%	-16.0%	-28.8%
as % of Revenue	11.3%	16.3%	18.5%	15.7%	10.6%
Profit before Taxes	11,362	17,181	19,838	17,150	12,438
Change %	146.9%	51.2%	15.5%	-13.5%	-27.5%
as % of Revenue	11.4%	16.1%	18.7%	16.3%	11.2%
Profit	8,991	13,397	16,143	12,841	9,256
Change %	210.2%	49.0%	20.5%	-20.5%	-27.9%
as % of Revenue	9.0%	12.5%	15.2%	12.2%	8.3%
Basic Earnings Per Share	¥65.20	¥97.20	¥117.18	¥93.98	¥69.98

Revenue Operating Profit

	2019/3	2020/3	2021/3	2022/3	2023/3
Orders	100,819	107,709	107,567	110,665	110,107
Change %	13.9%	6.8%	-0.1%	2.9%	-0.5%
Cash Flow from Operating Activities	12,247	14,721	20,481	16,031	6,114
Change %	54.1%	20.2%	39.1%	-21.7%	-61.9%
Free Cash Flow	11,631	11,035	15,452	7,324	897
Change %	189.7%	-5.1%	40.0%	-52.6%	-87.7%

Orders Free Cash Flow

	2019/3	2020/3	2021/3	2022/3	2023/3
*Capital Expenditures^1**	2,436	4,518	5,449	5,658	5,369
Change %	-29.0%	85.5%	20.6%	3.8%	-5.1%
*Depreciation^2**	4,031	4,732	4,545	4,628	5,128
Change %	1.7%	17.4%	-4.0%	1.8%	10.8%
*R&D Expenses^3**	12,008	13,321	11,246	11,386	11,420
Change %	13.8%	10.9%	-15.6%	1.2%	0.3%
as % of Revenue	12.0%	12.4%	10.6%	10.8%	10.3%
Number of Employees	3,778	3,881	3,954	4,168	4,144

(*1) Capitalized development cost booked as intangible asset for the fiscal year is not included.
(*2) Amortization of capitalized development cost is not included.
(*3) R&D expenses are amounts of R&D investment including capitalized development cost. Thus, these amounts do not agree the R&D expense booked on the consolidated statement of profit or loss and other comprehensive income.

Capital Expenditures R&D Expenses Number of Employees

2-1. Segment Information (Revenue by Segment, Operating Profit by Segment)

1) Revenue by Segment

(Millions of yen)

	2019/3	2020/3	2021/3	2022/3	2023/3
Test and Measurement	68,168	75,165	74,809	73,320	72,753
Change %	25.2%	10.3%	-0.5%	-2.0%	-0.8%
PQA	23,074	22,575	21,419	21,978	24,849
Change %	2.3%	-2.2%	-5.1%	2.6%	13.1%
Others	8,416	9,282	9,709	10,089	13,316
Change %	-6.3%	10.3%	4.6%	3.9%	32.0%
Total	99,659	107,023	105,939	105,387	110,919
Change %	15.9%	7.4%	-1.0%	-0.5%	5.2%

Revenue by Segment

2) Operating Profit by Segment

(Millions of yen)

	2019/3	2020/3	2021/3	2022/3	2023/3
Test and Measurement	9,413	15,148	17,714	15,202	10,874
Change %	338.3%	60.9%	16.9%	-14.2%	-28.5%
PQA	1,609	1,287	1,340	1,173	1,331
Change %	-18.3%	-20.0%	4.1%	-12.5%	13.5%
Others	1,145	1,900	1,797	1,123	611
Change %	-21.5%	65.9%	-5.4%	-37.5%	-45.5%
Adjustment	-921	-921	-1,201	-999	-1,071
Change %	-	-	-	-	-
Total	11,246	17,413	19,651	16,499	11,746
Change %	128.9%	54.8%	12.8%	-16.0%	-28.8%

2-2. Segment Information (Revenue by Markets)

(Millions of yen)

	2019/3	2020/3	2021/3	2022/3	2023/3
Japan	32,183	36,293	32,202	31,036	33,042
Change %	8.2%	12.8%	-11.3%	-3.6%	6.5%
Overseas	67,475	70,729	73,736	74,350	77,876
Change %	20.0%	4.8%	4.3%	0.8%	4.7%
Americas	26,429	20,773	21,380	23,065	24,799
Change %	51.7%	-21.4%	2.9%	7.9%	7.5%
EMEA	12,170	10,693	11,021	11,605	14,732
Change %	-4.8%	-12.1%	3.1%	5.3%	26.9%
Asia and others	28,876	39,262	41,334	39,679	38,344
Change %	11.0%	36.0%	5.3%	-4.0%	-3.4%
Total	99,659	107,023	105,939	105,387	110,919
Change %	15.9%	7.4%	-1.0%	-0.5%	5.2%

(*) EMEA: Europe, Middle East and Africa

Revenue by Markets

3. Financial positions, Key Financial Indicators

	2019/3	2020/3	2021/3	2022/3	2023/3
Total assets (Millions of yen)	130,467	138,873	144,100	153,261	152,238
Total equity (Millions of yen)	85,678	94,331	109,455	114,442	117,516
Equity attributable to owners of parent to total assets ratio (%)	65.6	67.8	75.8	74.5	77.0
Interest-bearing Liabilities (Millions of yen)	16,435	14,594	5,848	6,521	6,584
Interest-bearing Liabilities Ratio (%)	12.6	10.5	4.1	4.3	4.3

Total Equity Interest-bearing Liabilities

	2019/3	2020/3	2021/3	2022/3	2023/3
ROE (%)^*1	10.9	14.9	15.8	11.5	8.0
ROA (%)^*2	7.1	9.9	11.4	8.6	6.1
Dividend Payout Ratio (%)^*3	33.7	31.9	34.1	42.6	57.2
Dividends on Equity (%)^*4	3.7	4.7	5.4	4.9	4.6
Debt to Equity Ratio (Times)^*5	0.19	0.15	0.05	0.06	0.06

(*1) ROE: Profit attributable to owners of parent/Equity attributable to owners of parent
(*2) ROA: Profit/Total Assets
(*3) Dividend Payout Ratio: Total Cash Dividends/Profit
(*4) Dividends on Equity: Total Cash Dividends/Equity attributable to owners of parent
(*5) Debt-to-Equity Ratio: Interest-bearing Debt/Equity attributable to owners of parent

Total Equity Total Assets