Financial Information | Anritsu Europe

1. Trend of Results

International Financial Reporting Standards (IFRS)

(Millions of yen)

	2017/3	2018/3	2019/3	2020/3	2021/3
Revenue	87,638	85,967	99,659	107,023	105,939
Change %	-8.3%	-1.9%	15.9%	7.4%	-1.0%
Operating Profit	4,234	4,912	11,246	17,413	19,651
Change %	-28.2%	16.0%	128.9%	54.8%	12.8%
as % of Revenue	4.8%	5.7%	11.3%	16.3%	18.5%
Profit before Taxes	3,628	4,602	11,362	17,181	19,838
Change %	-33.2%	26.8%	146.9%	51.2%	15.5%
as % of Revenue	4.1%	5.4%	11.4%	16.1%	18.7%
Profit	2,734	2,898	8,991	13,397	16,143
Change %	-27.4%	6.0%	210.2%	49.0%	20.5%
as % of Revenue	3.1%	3.4%	9.0%	12.5%	15.2%
Basic Earnings Per Share	¥19.65	¥20.97	¥65.20	¥97.20	¥117.18

Revenue Operating Profit

	2017/3	2018/3	2019/3	2020/3	2021/3
Orders	88,934	88,542	100,819	107,709	107,567
Change %	-6.0%	-0.4%	13.9%	6.8%	-0.1%
Cash Flow from Operating Activities	9,246	7,946	12,247	14,721	20,481
Change %	-9.3%	-14.1%	54.1%	20.2%	39.1%
Free Cash Flow	5,581	4,014	11,631	11,035	15,452
Change %	384.0%	-28.1%	189.7%	-5.1%	40.0%

Orders Free Cash Flow

	2017/3	2018/3	2019/3	2020/3	2021/3
*Capital Expenditures^1**	2,588	3,430	2,436	4,518	5,449
Change %	-52.1%	32.5%	-29.0%	85.5%	20.6%
*Depreciation^2**	3,935	3,964	4,031	4,732	4,545
Change %	5.3%	0.7%	1.7%	17.4%	-4.0%
*R&D Expenses^3**	11,212	10,556	12,008	13,321	11,246
Change %	-14.3%	-5.9%	13.8%	10.9%	-15.6%
as % of Revenue	12.8%	12.3%	12.0%	12.4%	10.6%
Number of Employees	3,788	3,717	3,778	3,881	3,954

(*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.

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

1) Revenue by Segment

(Millions of yen)

	2017/3	2018/3	2019/3	2020/3	2021/3
Test and Measurement	59,333	54,433	68,168	75,165	74,809
Change %	-12.4%	-8.3%	25.2%	10.3%	-0.5%
PQA	19,588	22,549	23,074	22,575	21,419
Change %	3.7%	15.1%	2.3%	-2.2%	-5.1%
Others	8,716	8,984	8,416	9,282	9,709
Change %	-2.2%	3.1%	-6.3%	10.3%	4.6%
Total	87,638	85,967	99,659	107,023	105,939
Change %	-8.3%	-1.9%	15.9%	7.4%	-1.0%

(*) The name "PQA" has been changed from "Industrial Automation" since April 1, 2015 and it is also restated for the past fiscal years.

Revenue by Segment

2) Operating Profit by Segment

(Millions of yen)

	2017/3	2018/3	2019/3	2020/3	2021/3
Test and Measurement	2,130	2,147	9,413	15,148	17,714
Change %	-54.7%	0.8%	338.3%	60.9%	16.9%
PQA	1,302	1,969	1,609	1,287	1,340
Change %	9.0%	51.2%	-18.3%	-20.0%	4.1%
Others	992	1,458	1,145	1,900	1,797
Change %	72.5%	47.0%	-21.5%	65.9%	-5.4%
Adjustment	-190	-663	-921	-921	-1,201
Change %	-	-	-	-	-
Total	4,234	4,912	11,246	17,413	19,651
Change %	-28.2%	16.0%	128.9%	54.8%	12.8%

2-2. Segment Information (Revenue by Markets)

(Millions of yen)

	2017/3	2018/3	2019/3	2020/3	2021/3
Japan	29,338	29,753	32,183	36,293	32,202
Change %	2.7%	1.4%	8.2%	12.8%	11.3%
Overseas	58,299	56,213	67,475	70,729	73,736
Change %	-12.9%	-3.6%	20.0%	4.8%	4.3%
Americas	19,633	17,419	26,429	20,773	21,380
Change %	-15.5%	-11.3%	51.7%	-21.4%	2.9%
EMEA	12,520	12,781	12,170	10,693	11,021
Change %	-7.5%	2.1%	-4.8%	-12.1%	3.1%
Asia and others	26,145	26,012	28,876	39,262	41,334
Change %	-13.4%	-0.5%	11.0%	36.0%	5.3%
Total	87,638	85,967	99,659	107,023	105,939
Change %	-8.3%	-1.9%	15.9%	7.4%	-1.0%

(*) EMEA: Europe, Middle East and Africa

Revenue by Markets

3. Financial positions, Key Financial Indicators

	2017/3	2018/3	2019/3	2020/3	2021/3
Total assets (Millions of yen)	125,054	121,190	130,467	138,873	144,100
Total equity (Millions of yen)	76,485	78,313	85,678	94,331	109,455
Equity attributable to owners of parent to total assets ratio (%)	61.1	64.6	65.6	67.8	75.8
Interest-bearing Liabilities (Millions of yen)	22,228	16,165	16,435	14,594	5,848
Interest-bearing Liabilities Ratio (％)	17.8	13.3	12.6	10.5	4.1

Total Equity Interest-bearing Liabilities

	2017/3	2018/3	2019/3	2020/3	2021/3
ROE (%)^*1	3.5	3.7	10.9	14.9	15.8
ROA (%)^*2	2.2	2.4	7.1	9.9	11.4
Dividend Payout Ratio (%)^*3	76.3	71.5	33.7	31.9	34.1
Dividends on Equity (%)^*4	2.7	2.7	3.7	4.7	5.4
Debt to Equity Ratio (Times)^*5	0.29	0.21	0.19	0.15	0.05

(*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