Financial Information | Anritsu Europe

1. Trend of Results

International Financial Reporting Standards (IFRS)

(Millions of yen)

	2018/3	2019/3	2020/3	2021/3	2022/3
Revenue	85,967	99,659	107,023	105,939	105,387
Change %	-1.9%	15.9%	7.4%	-1.0%	-0.5%
Operating Profit	4,912	11,246	17,413	19,651	16,499
Change %	16.0%	128.9%	54.8%	12.8%	-16.0%
as % of Revenue	5.7%	11.3%	16.3%	18.5%	15.7%
Profit before Taxes	4,602	11,362	17,181	19,838	17,150
Change %	26.8%	146.9%	51.2%	15.5%	-13.5%
as % of Revenue	5.4%	11.4%	16.1%	18.7%	16.3%
Profit	2,898	8,991	13,397	16,143	12,841
Change %	6.0%	210.2%	49.0%	20.5%	-20.5%
as % of Revenue	3.4%	9.0%	12.5%	15.2%	12.2%
Basic Earnings Per Share	¥20.97	¥65.20	¥97.20	¥117.18	¥93.98

Revenue Operating Profit

	2018/3	2019/3	2020/3	2021/3	2022/3
Orders	88,542	100,819	107,709	107,567	110,665
Change %	-0.4%	13.9%	6.8%	-0.1%	2.9%
Cash Flow from Operating Activities	7,946	12,247	14,721	20,481	16,031
Change %	-14.1%	54.1%	20.2%	39.1%	-21.7%
Free Cash Flow	4,014	11,631	11,035	15,452	7,324
Change %	-28.1%	189.7%	-5.1%	40.0%	-52.6%

Orders Free Cash Flow

	2018/3	2019/3	2020/3	2021/3	2022/3
*Capital Expenditures^1**	3,430	2,436	4,518	5,449	5,658
Change %	32.5%	-29.0%	85.5%	20.6%	3.8%
*Depreciation^2**	3,964	4,031	4,732	4,545	4,628
Change %	0.7%	1.7%	17.4%	-4.0%	1.8%
*R&D Expenses^3**	10,556	12,008	13,321	11,246	11,386
Change %	-5.9%	13.8%	10.9%	-15.6%	1.2%
as % of Revenue	12.3%	12.0%	12.4%	10.6%	10.8%
Number of Employees	3,717	3,778	3,881	3,954	4,168

(*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)

	2018/3	2019/3	2020/3	2021/3	2022/3
Test and Measurement	54,433	68,168	75,165	74,809	73,320
Change %	-8.3%	25.2%	10.3%	-0.5%	-2.0%
PQA	22,549	23,074	22,575	21,419	21,978
Change %	15.1%	2.3%	-2.2%	-5.1%	2.6%
Others	8,984	8,416	9,282	9,709	10,089
Change %	3.1%	-6.3%	10.3%	4.6%	3.9%
Total	85,967	99,659	107,023	105,939	105,387
Change %	-1.9%	15.9%	7.4%	-1.0%	-0.5%

Revenue by Segment

2) Operating Profit by Segment

(Millions of yen)

	2018/3	2019/3	2020/3	2021/3	2022/3
Test and Measurement	2,147	9,413	15,148	17,714	15,202
Change %	0.8%	338.3%	60.9%	16.9%	-14.2%
PQA	1,969	1,609	1,287	1,340	1,173
Change %	51.2%	-18.3%	-20.0%	4.1%	-12.5%
Others	1,458	1,145	1,900	1,797	1,123
Change %	47.0%	-21.5%	65.9%	-5.4%	-37.5%
Adjustment	-663	-921	-921	-1,201	-999
Change %	-	-	-	-	-
Total	4,912	11,246	17,413	19,651	16,499
Change %	16.0%	128.9%	54.8%	12.8%	-16.0%

2-2. Segment Information (Revenue by Markets)

(Millions of yen)

	2018/3	2019/3	2020/3	2021/3	2022/3
Japan	29,753	32,183	36,293	32,202	31,036
Change %	1.4%	8.2%	12.8%	-11.3%	-3.6%
Overseas	56,213	67,475	70,729	73,736	74,350
Change %	-3.6%	20.0%	4.8%	4.3%	0.8%
Americas	17,419	26,429	20,773	21,380	23,065
Change %	-11.3%	51.7%	-21.4%	2.9%	7.9%
EMEA	12,781	12,170	10,693	11,021	11,605
Change %	2.1%	-4.8%	-12.1%	3.1%	5.3%
Asia and others	26,012	28,876	39,262	41,334	39,679
Change %	-0.5%	11.0%	36.0%	5.3%	-4.0%
Total	85,967	99,659	107,023	105,939	105,387
Change %	-1.9%	15.9%	7.4%	-1.0%	-0.5%

(*) EMEA: Europe, Middle East and Africa

Revenue by Markets

3. Financial positions, Key Financial Indicators

	2018/3	2019/3	2020/3	2021/3	2022/3
Total assets (Millions of yen)	121,190	130,467	138,873	144,100	153,261
Total equity (Millions of yen)	78,313	85,678	94,331	109,455	114,442
Equity attributable to owners of parent to total assets ratio (%)	64.6	65.6	67.8	75.8	74.5
Interest-bearing Liabilities (Millions of yen)	16,165	16,435	14,594	5,848	6,521
Interest-bearing Liabilities Ratio (%)	13.3	12.6	10.5	4.1	4.3

Total Equity Interest-bearing Liabilities

	2018/3	2019/3	2020/3	2021/3	2022/3
ROE (%)^*1	3.7	10.9	14.9	15.8	11.5
ROA (%)^*2	2.4	7.1	9.9	11.4	8.6
Dividend Payout Ratio (%)^*3	71.5	33.7	31.9	34.1	42.6
Dividends on Equity (%)^*4	2.7	3.7	4.7	5.4	4.9
Debt to Equity Ratio (Times)^*5	0.21	0.19	0.15	0.05	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