▎WuXi AppTec
Operating income of 8.474 billion yuan, an increase of 71.2% year-on-year
Attributable net profit was RMB1.643 billion, up 9.5% year-on-year
Diluted earnings per share were RMB0.53, up 3.9% year-over-year
Adjusted Non-IFRS attributable net profit of RMB2.053 billion, up 85.8% year-on-year
Adjusted Non-IFRS diluted earnings per share of $0.69, up 81.6% year-over-year
Shanghai, April 25, 2022, Wuxi WuXi AppTec New Drug Development Co., Ltd. (stock code: 603259. SH/2359.HK) released its first quarterly results report for 2022.
Management comments
Dr. Ge Li, Chairman and Chief Executive Officer of WuXi AppTec, said: "The company achieved record growth in the first quarter of 2022, with our operating income increasing by 71.2% year-on-year and adjusted non-IFRS attributable net profit up 85.8% year-on-year. The performance in the first quarter of 2022 proves that our unique CRDMO and CTDMO business models continue to drive the company's rapid growth and enable us to better empower our customers. ”
"After the outbreak of the Omiljung epidemic in Shanghai at the end of the first quarter, the company implemented a business continuity plan in a timely and efficient manner to ensure the continuous operation of the company's various bases and the health and safety of employees. The company has effectively played the advantages of global layout and coverage of the whole industry chain, and all regions have been linked to jointly ensure business continuity. If the epidemic in Shanghai Amy Kerong is effectively controlled at the end of April, the company expects to achieve rapid growth of 63-65% in the second quarter of 2022, and we are also confident that we will achieve the goal of 65-70% revenue growth in the whole year of 2022. Management will closely monitor the development of the epidemic and will disclose the impact on business development in a timely manner. ”
About WuXi AppTec
WuXi AppTec (stock code: 603259.SH/2359.HK) provides integrated, end-to-end new drug development and manufacturing services for the global biopharmaceutical industry, with operating bases in Asia, Europe and North America. Through its unique "CRDMO" and "CTDMO" business models, WuXi AppTec continuously lowers the threshold of R&D, helps customers improve R&D efficiency, and brings more breakthrough treatment solutions to patients, covering the fields of chemical drug development and production, biological research, preclinical testing and clinical trial research and development, cell and gene therapy research and development, testing and production. In 2021, WuXi AppTec was rated an ESG (Environmental, Social and Governance) AA by MSCI. At present, the company's empowerment platform is carrying the R&D and innovation projects of more than 5,800 partners from more than 30 countries around the world, and is committed to bringing more new drugs and good drugs to patients around the world, and realizing the vision of "making the world have no difficult drugs and incurable diseases" as soon as possible.
Forward-Looking Statements
This press release contains certain forward-looking statements which are not historical facts but are projections of future events based on the Company's beliefs, assumptions made by management and information currently available to us. While the Company believes that the projections made are reasonable, forward-looking statements may ultimately become incorrect based on uncertainties inherent in future events. Forward-looking statements are subject to risks related to, including the effective competitiveness of the services provided by the Company, the ability to comply with the schedule of extended services, the ability to protect the intellectual property rights of customers, industry competition, emergencies and force majeure. You should therefore note that reliance on any forward-looking statements involves both known and unknown risks. All forward-looking statements contained in this press release are subject to the cautionary statements set forth in this section. All information contained in this press release is based solely on the date of this press release and is based solely on assumptions as of that date, and the Company undertakes no obligation to update such forward-looking statements except as required by law.
Non-IFRS Financial Indicators
To complement the Company's consolidated financial statements presented in accordance with IFRS, the Company provides Non-IFRS gross profit and Non-IFRS net profit attributable to shareholders of listed companies (excluding equity incentive plan expenses, costs of issuance of convertible bonds, gains and losses on changes in fair value of the derivative financial instruments portion of convertible bonds, gains and losses related to exchange fluctuations, amortization of intangible assets derived from mergers and acquisitions, losses on impairment of goodwill), Adjusted non-IFRS net profit attributable to shareholders of listed companies (further excluding realized and unrealized fair value change gains, realized and unrealized investment gains from joint ventures and associates), adjusted Non-IFRS earnings per share, EBITDA, adjusted EBITDA and amortized profit as additional financial measures. These indicators are not required by or prepared in accordance with IFRS.
At the same time, in order to better reflect the operating results and key results, the Company adjusted the scope of gains and losses related to exchange fluctuations and only excluded the part of the profit and loss that the Company believes is not related to the core business. Comparative financial data for comparable periods have been adjusted accordingly to reflect changes in the range.
The Company believes that the adjusted financial indicators will facilitate the understanding and assessment of business performance and operating trends, and will facilitate management and investors to assess the financial performance of the Company by reference to such adjusted financial indicators, eliminating certain unusual, non-recurring, non-cash and non-day-to-day operating items that the Company does not consider indicative of the Company's business performance. The Company's management believes that the Non-IFRS financial indicators are widely accepted and applied in the Company's industry. Such non-IFRS financial indicators do not imply that they may only be considered as financial indicators of non-GAAP or that they are considered to be a substitute for financial information prepared and expressed in accordance with IFRS. You should not view the above adjusted financial indicators independently or as a substitute for results prepared in accordance with IFRS or as comparable to the performance reported or projected by other companies.
This document is of a briefing nature and is not intended to provide a complete statement of the matter in question. For related information, please refer to the Company's first quarter report and related announcements published on the website of the Shanghai Stock Exchange, the website of the Stock Exchange of Hong Kong and the Company's designated information disclosure media. Investors are advised to invest cautiously and pay attention to investment risks.
The financial data disclosed herein has been prepared in accordance with International Financial Reporting Standards (or "IFRS") in Rmb.
The Company's financial data for the first quarter of 2022 is unaudited.