Lundbeck Delivers Its Best Financial Results Following 10% Revenue Growth and 117% Growth in Net Profit

Valby, Denmark, 2018-02-07 07:48 CET (GLOBE NEWSWIRE) --  

HIGHLIGHTS

  • Revenue reached DKK 17,234 million in 2017 representing an increase of 10% (12% in local currencies) compared to 2016
    • Revenue of Abilify Maintena® increased by 19% to DKK 1,331 million (21% in local currencies)
    • Revenue of Brintellix®/Trintellix® increased by 50% to DKK 1,662 million (52% in local currencies)
    • Revenue of Northera® increased by 51% to DKK 1,644 million (55% in local currency)
    • Revenue of Onfi® increased by 25% to DKK 3,022 million (28% in local currency)
    • Revenue of Rexulti® increased by 51% to DKK 1,247 million (54% in local currencies)
    • Revenue in North America increased by 17% to DKK 10,672 million (19% in local currencies)
    • Revenue in International Markets increased by 2% to DKK 3,345 million (5% in local currencies)
    • Revenue in Europe decreased by 3% to DKK 2,818 million (4% decline in local currencies)  
  • EBIT improved significantly reaching DKK 4,408 million from DKK 2,292 million in 2016. EBIT for 2017 includes the gain of DKK 242 million from the divestment of properties which is recognized as Other operating income. Adjusted for this gain the EBIT margin reached 24.2% compared to an EBIT margin of 14.7% in 2016
  • EPS grew 117% in the period to DKK 13.28 compared to DKK 6.12 the year before
  • Free cash flow reached DKK 2,215 million and the net cash position improved to DKK 3,677 million compared to DKK 326 million at the end of 2016
  • For 2018, Lundbeck expects revenue to reach DKK 17.2-18.0 billion and EBIT to reach DKK 4.8-5.2 billion
  • The Board of Directors proposes to pay a dividend of DKK 8.00 per share, corresponding to a pay-out ratio of 61%

In connection with the financial report, Lundbeck’s CFO and interim CEO, Anders Götzsche said:

“2017 has been a successful financial year for Lundbeck as we grew the business and increased Lundbeck’s profitability significantly. Going forward we will continue to focus on profitability, while at the same time focus on strengthening our pipeline to create long-term, sustainable and profitable growth.

 

DKK million FY 2017  FY 2016 Growth
Reported Revenue 17,234 15,634 10%
Reported EBIT 4,408 2,292 92%
Reported EPS 13.28 6.12 117%
Reported EBIT margin 25.6% 14.7% -
       
Core Revenue* 17,234 15,634 10%
Core EBIT* 5,115 3,477 47%
Core EPS* 16.50 11.09 49%
Core EBIT margin* 29.7% 22.2% -

       *For definition of the measures “Core Revenue”, “Core EBIT” and “Core EPS”, see note 3 Core reporting

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