BAGSVAERD, Denmark, Jan. 31 /PRNewswire-FirstCall/ -- Novo Nordisk A/S today announced its financial statement for 2006. Sales grew by 15% driven by modern insulins. Robust sales performance led to operating profit growth of 13%.
-- Reported sales increased by 15% in 2006 (local currency growth of 16%) - Sales of modern insulins (insulin analogs) increased by 48% - Sales of NovoSeven(R) increased by 11% - Sales of Norditropin(R) increased by 19% - Sales in North America increased by 29%. -- Gross profit increased by 19%, primarily reflecting continued productivity improvements in Product Supply. -- Operating profit increased by 13% to USD 1.533 million while operating profit measured in local currencies increased by around 15%. -- Net profit increased by 10% to USD 1.085 million, and earnings per share (diluted) increased by 12% to USD 3.36. -- At the Annual General Meeting on 7 March 2007, the Board of Directors will propose a 17% increase in dividend to USD 1.18 per share of DKK 2. The ongoing share repurchase program has been increased to USD 1.68 billion and is now expected to be finalized before the end of 2008. -- The expectation for 2007 operating profit growth measured in local currencies is around 15%.
Lars Rebien Sorensen, president and CEO, said, "We are very pleased with the results we have achieved in 2006. Sales of our key products, not least our modern insulins, went well in all major markets, and we continue to see productivity improvements in Product Supply. This allows us to invest more in both R&D and sales and marketing, and we remain confident that also in 2007 we will be able to deliver a solid financial performance."
* For convenience, Danish kroner has been translated to USD in this
release, using the average exchange rate of USD 1.00 = DKK 5.94663.
The complete Novo Nordisk earnings announcement can be found at http://www.novonordisk.com.
Novo Nordisk is a healthcare company with an 80-year history of innovation and achievement in diabetes care. In addition to diabetes care, Novo Nordisk has a leading position within areas such as hemostasis management, growth hormone therapy, and hormone therapy for women. Novo Nordisk's business is driven by the Triple Bottom Line: a commitment to economic success, environmental soundness, and social responsibility to employees and customers. With headquarters in Denmark, Novo Nordisk employs more than 23,000 employees in 79 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For global information, visit novonordisk.com; for United States information, visit novonordisk-us.com.
Photo: http://www.newscom.com/cgi-bin/prnh/20020404/NVOLOGOPRN Photo Desk, photodesk@prnewswire.comNovo NordiskCONTACT: Media, Susan Jackson, Novo Nordisk, +1-609-919-7776; orInvestors, Mads Veggerby Lausten, Novo Nordisk, +1-609-919-7937
