investors

Strong launch execution driving company growth

Vandenbruaene Nathalie — Wed, 26 Feb 2025 15:01:58 +0000

Strong launch execution driving company growth

Sandrine Dufour, EVP Chief Financial Officer

Vandenbruaene … Wed 26/02/2025 - 16:01

As I reflect on the past year and ��ֳ�’s 2024 financial and extra financial performance, I am more certain than ever that our guiding principle - "Inspired by patients, driven by science" - has never been more relevant. In 2024, we focused on meaningful impact: breakthrough innovation and execution excellence to deliver transformative value to people living with severe diseases.

Twelve months ago, we set ambitious goals to launch new solutions that make a real difference. Today, I am proud to see those efforts come to life. We deliver on our commitments, and the results speak for themselves.

Our 2024 revenue increased by 17% to €6.15 billion, thanks to net sales of €5.61 billion driven by triple and double-digit performance of our growth medicine drivers. Underlying profitability rose by 9% to €1.48 billion and our profit more than tripled. Looking ahead we continue to have strong ambitions. We aim to obtain revenues in 2025 in the range of € 6.5 – €6.7 billion and an adjusted EBITDA to reach 30% of revenues, representing a significant increase over 2024 considering the evolution of our medicine portfolio. Since 2014, our revenue has increased by around 80%, adjusted EBITDA by more than 130%, and our market capitalization has tripled.

Our 2024 results go beyond our financial performance. Sustainability continues to be central to everything we do. Scientific progress must be responsible, and our growth should not come at the expense of our environment. I am proud that our net-zero climate targets have been validated by the Science-Based Targets initiative, holding us accountable for reducing our carbon footprint. Our ESG performance assessed by organizations such as Sustainalytics, ISS ESG, MSCI and CDP has placed us among industry leaders, reaffirming our responsibility to future generations.

Beyond reducing emissions, we are committed to equitable healthcare access. This year, we expanded our reach by 14% to reach 82% access coverage for our medicines, ensuring that more people - regardless of location or socioeconomic status - can access life-changing treatments.

With a strong foundation in innovation, ongoing launches of our key medicines, financial stability, and positive societal impact, I am confident about the road ahead. 2025 will bring continued momentum, driven by strong execution, sustained growth, and breakthrough innovation that delivers meaningful impact.

To my team members, partners, and stakeholders - thank you for being part of this journey. Your dedication makes this possible. Together, we will continue to transform the lives of people living with severe diseases and shape the future of healthcare in a responsible and impactful way.

investors

2024 financial results 2024 financials

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Half-year results 2024: strong start into ��ֳ�’s decade of growth

Vandenbruaene Nathalie — Wed, 24 Jul 2024 15:05:21 +0000

Half-year results 2024: strong start into ��ֳ�’s decade of growth

Antje Witte, Investor Relations

Vandenbruaene … Wed 24/07/2024 - 17:05

At ��ֳ�, we are on a remarkable journey. Our growth is just beginning, fueled by a clear focus on delivering differentiated medicines to people living with severe diseases. This commitment has translated into a portfolio of solutions, composed of our growth drivers and foundational medicines, delivering impressive results, and marking the strong beginning of a decade+ of growth. In this blog post, I will share our financial performance, key regulatory milestones, and outlook, illustrating how we are once again delivering on our commitments.

We commenced 2024 with strong momentum, launching several successful products and experiencing significant growth, positioning us for an upward trajectory over the next decade.

The impressive mid-year performance for 2024 tells a story of dedication and commitment. Our intensified investments and exploration of new growth avenues have set ��ֳ� on a path of strong growth. Experiencing double-digit growth – after double-digit decline in the first half of 2023 -, our robust product portfolio and successful launches have brought us here. The underlying profitability, marked at €652 million, representing 23% of our revenue, is a testament to the solid groundwork, smart reallocation of resources and significant investments in product launches.

Our half-year 2024 performance is marked by accelerated launch investments and emerging growth. The newly launched growth drivers have shown strong performance – the combined five new products alone reached more than € 500 million net sales. Revenue reached €2.79 billion, with net sales reaching €2.64 billion increasing by 11% at actual rates.

Regulatory Approvals
In regulatory milestones, securing five filings with the U.S. regulatory authority, and five approvals for the EU and Japan as well as China are remarkable. With our growth drivers now offering treatment options against a range of ailments from generalized myasthenia gravis to epilepsy, our compassionate commitment to patient care shines through.

Enhanced ESG Ratings
We are proud to have improved our ESG ratings from ISS ESG and Sustainalytics. This achievement places ��ֳ� among the top 10% of pharmaceutical and biotech companies globally. It reflects our commitment to ethical responsibility and sustainable practices. We are also pleased with the growing access to our medicines across our regions, reflecting our efforts to create value for patients and all stakeholders, now and into the future.

Financial Guidance for 2024
Looking ahead, we are optimistic about our financial performance for the rest of the year. We have confirmed and fine-tuned our financial guidance for 2024, with the following expectations:

Revenue expected now at the top-end of the range of € 5.5-5.7 billion
Adjusted EBITDA: 23.0-24.5% of revenue
Core EPS: € 3.70-4.40

Our achievements in the first half of 2024 underscore our dedication to innovation, patient care, and sustainable growth. Our commitment to pushing the boundaries of what's possible, driven by a genuine concern for bettering lives, guides everything we do. ��ֳ�'s future is bright, and we are excited to continue this journey of progress and improvement.

Thank you for your continued support and interest in ��ֳ�. Together, we will make a difference in the lives of people living with severe diseases worldwide.

Stay tuned for more updates as we move forward into the second half of the year.

investors

2024 HY financial results 2024 half-year financials

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2023 financial results: on our way to deliver growth for a decade plus with 5 drivers of growth

Vandenbruaene Nathalie — Wed, 28 Feb 2024 07:40:01 +0000

2023 financial results: on our way to deliver growth for a decade plus with 5 drivers of growth

Sandrine Dufour, EVP Chief Financial Officer

Vandenbruaene … Wed 28/02/2024 - 08:40

In a year marked by robust product growth and impressive launches, we are delighted to announce yet another period of strong financial performance in line or slightly better than financial guidance. Specifically, we reached an inflection point mid-2023, absorbing patent losses, and managed to resume revenue growth in the 2nd half by almost 3%. Our continued efforts in smart resource allocation, which, along with strong contribution from key medicines, enabled us to invest in our product launches.

In 2023, revenue reached €5.25 billion (-5%; -6% CER), while net sales stood at €4.87 billion (-5%; -6% CER). Additionally, the underlying profitability, measured by adjusted EBITDA, reached €1.35 billion (+7% increase; -1% CER).

The year 2024 will be marked by intense ongoing global launches of the ��ֳ� growth drivers, and our financial guidance for 2024 foresees a growing top line of €5.5 – 5.7 billion and an adjusted EBITDA margin of 23.0-24.5% of revenue.

We would also like to reaffirm our growth aspirations for 2025, anchored in our robust product portfolio and strong growth drivers. We anticipate revenue to reach at least €6 billion, while the underlying profitability (measured by adjusted EBITDA) is projected to fall within the lower end of the range spanning from the low to mid-thirties as a percentage of revenue.

Overall, thanks to our commitment to create and deliver new therapies to people living with severe diseases, ��ֳ� secured 14 approvals in 2023 across 6 patient populations and across 3 continents. This is combined with a pipeline of 10 potential new medicines – a rich portfolio offering transformative possibilities for patients while fueling ��ֳ�’s growth and the growth of stakeholder value for the next decade. These new opportunities for patients are the best part of working in this sector for me.

Highlights in the 3 key regions, United States, Europe and Japan since the last Half-Year Report include:

In the U.S., we received FDA approval for a new treatment for adults with gMG, plus for the first and only IL-17A and IL-17F inhibitor for the treatment of adults with moderate to severe plaque psoriasis. And in February 2024, the FDA accepted the supplemental biologics license applications (sBLA) for three new spondyloarthritides indications.
In the European Union, an important development was the acceptance for review for a treatment of adults with moderate to severe hidradenitis suppurativa (HS), a chronic, recurrent, and debilitating skin condition with high unmet medical need. We also obtained approval for a treatment for adults with gMG, plus a new treatment for adults with generalized myasthenia gravis (gMG) who have certain conditions.
In Japan, we got new approvals for a treatment of partial-onset epileptic seizures in young patients, as well as one for adult patients with generalized myasthenia gravis (gMG). We then got approval for a treatment for adult patients with active psoriatic arthritis (PsA), active ankylosing spondylitis (AS) and active non-radiographic axial spondyloarthritis (nr-axSpA). Finally, we submitted the marketing authorization application for epilepsy medicine treating partial onset seizures.

I’m very excited to see these new developments make a difference in patient’s lives as we move through 2024.

Part of this story and mission is doing it sustainably, and we are committed to building value while continuing to decrease our greenhouse gas emissions in line with our ambition to reach net zero emissions. Our commitment to pushing the boundaries of what's possible – for patients and our stakeholders - guides everything we do.

In closing, our 2023 financial results mark a significant milestone on our journey toward sustained growth. With robust product launches, strategic resource allocation, and strong contributions from our growth drivers, we’ve navigated challenges and achieved remarkable progress. I am extremely proud of ��ֳ�’s performance, let’s remain committed to creating value for patients in immunology, neurology, and other domains that align with the unmet needs of our stakeholders, now and into the future.

investors

2023 Financials 2023 financial results

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Half-Year Report: achieving an inflection point and embarking on a new growth phase

Vandenbruaene Nathalie — Thu, 27 Jul 2023 18:20:37 +0000

Half-Year Report: achieving an inflection point and embarking on a new growth phase

Antje Witte, Investor Relations

Vandenbruaene … Thu 27/07/2023 - 20:20

Today we announced our half-year financial results. To start off, I’m happy to announce that we’re seeing the end of the immediate impact of the loss of exclusivities of some of our epilepsy medicines and can now look forward to a new period of growth. While we’re still waiting for feedback from the FDA to our medicine in psoriasis expected in Q3, we’ve received the green light for 4 approvals this semester – and have 10 regulatory filings underway in the US, the EU and Japan which I call a great foundation for growth.

I’m also pleased to report that our current portfolio of medicines has delivered robust growth across both our neurology and immunology units. In fact, taking aside the aforementioned impact of the loss of exclusivity this semester, our portfolio shows the underlying growth – confirming that we reached the inflection point.

Please allow me to focus a bit more on the approvals and launches. This includes new treatment options for targeting Lennox-Gastaut syndrome (LGS), psoriatic arthritis (PsA), and axial spondyloarthritis (axSpA) in the EU, and generalized myasthenia gravis (gMG) in the U.S. This is also on top of positive news for a number of other patient groups:

An accepted EU marketing authorization review for a therapy treating moderate to severe hidradenitis suppurativa
An orphan drug designation in Japan for the treatment of patients with Lennox-Gastaut Syndrome (LGS)
Japan also accepted the review filing for a treatment for adults with generalized myasthenia gravis (gMG)
Finally, we have a new treatment in Japan targeting partial-onset epileptic seizures in young patients (1m-<4years of age).

As you can imagine, we’re pleased with these latest developments. Bringing new options and therapies to people living with severe diseases is one of the most rewarding parts of this field, and I’m looking forward to seeing the feedback and discussion. We consider that innovation to develop new therapies for unmet patient needs is one of the foundations of ��ֳ�’s mission. To that end, we’ll continue to build on our strong heritage and expertise in neurology and immunology solutions in order to expand to rarer neurological diseases and underserved immunological diseases where significant unmet need remains.

As 2023 continues, we’ll continue to invest behind ongoing and upcoming launches, helping people suffering from severe diseases live their best possible lives. At the same time, we confirm our financial guidance 2023.

With that in mind, I wish you a restful and healthy summer period! I leave you with these key figures from the first half of the year:

Revenue reached € 2.6 billion (-11%; -13% CER), net sales were € 2.4 billion (-12%; -14% CER)
Underlying profitability (adj. EBITDA) was € 801 million (-2%; -9% CER), 31% of revenue.

investors

Financials half-year results 2023 half-year report 2023 half-year financial results 2023

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��ֳ� successfully navigated the challenges of 2022 and is now set for an exciting launch year

Vandenbruaene Nathalie — Wed, 22 Feb 2023 19:15:26 +0000

��ֳ� successfully navigated the challenges of 2022 and is now set for an exciting launch year

Sandrine Dufour, EVP Chief Financial Officer

Vandenbruaene … Wed 22/02/2023 - 20:15

At ��ֳ�, we strongly believe that everyone deserves to live the best life they can. We understand the significant challenges that individuals face when confronted with health conditions, and it is for this reason that we draw inspiration from patients to drive innovation and scientific discovery. Through a collaborative approach with our employees and partners we provide sustainable long-term solutions and are able to launch innovative products that benefit many. It is this focus, care and forward thinking that fueled our growth in the last 90 years. And we are excited and ready to deliver more this year and in the years to come.

Just have a look at our full-year financial results of 2022 that we share with you today. With a 5.52 billion revenue, an underlying profitability of 1.26 billion and net raise of dividend per share of 2%, we have delivered results at the upper end of the guided range of revenues and EBITDA margins. This is a demonstration of our strength to overcome both external challenges such as the economic impact of the war in Ukraine, and inflation, but also internal such as the patent loss of 2 key medicines. It shows the strength of our patient-value strategy and resilience of our core products. And it proves that ��ֳ� is able to discover, develop and put on the market medicines that deliver unique, differentiated outcomes to patients all around the world. A true testament to our strategic thinking.

In 2022 we reached more than 3.4 million people living with severe immunological and neurological diseases. We are continually innovating and striving to find new ways to deliver solutions to these people to live their best possible lives. We hope to launch multiple new treatment options in 2023, paving the way for future growth. These treatments will support the battle against rare forms of epilepsy, myasthenia gravis, dermatological and rheumatological diseases.

Furthermore, we continued to develop our clinical pipeline, which now encompasses 9 clinical development medicines with our R&D ratio increasing to 30%. It shows our commitment to continue to invest in order to advance our clinical development pipeline and bring these medicines to people living with severe diseases.

Looking ahead to 2023 and beyond, we are confident in our ability to pave the way for future strong growth and value. We remain committed to creating value for patients in immunology, neurology, and other domains that align with the unmet needs of our stakeholders, now and into the future.

investors

2022 full-year financial results 2022 Financials 2022 Financial results

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��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

Vandenbruaene Nathalie — Thu, 28 Jul 2022 06:32:20 +0000

��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

Antje Witte, Investor Relations

Vandenbruaene … Thu 28/07/2022 - 08:32

The ��ֳ� Half Year Report 2022 tells me that we are continuing ��ֳ�’s course as it navigates today’s challenging environment. We are managing generic erosion curves, a launch delay in the U.S. and the inflation in costs, which gives me confidence that we will deliver strong long-term growth and create value for all stakeholders – now and into the future.

If you were to ask me what our focus is, it’s the new product launches that we are currently preparing for. Those are the launches we have planned for new treatment options to serve people living with psoriasis, psoriatic arthritis, across the full spectrum of axial spondyloarthritis and generalized myasthenia gravis.

Our new product for people living with psoriasis received strong regional launches in Europe and the UK late last year and in Japan and Canada earlier this year. I’m excited to see the strong patient growth and the great feedback from people living with psoriasis in the months since. I’m confident we will soon be able to bring it to US patients following our submission of the response to the FDA complete response letter by the end of 2022.

Our ability to bring new products in specific areas to address the unmet needs relies on the performance of our existing business. And the first half of 2022 delivered yet another period of strong delivery and growth. The impacts from the loss of exclusivity of two of our epilepsy products are visible and they will continue to impact our near-term future. On the other hand, our latest acquisition is adding to our growth profile.

With that, I’ve confidence in our ability to deliver on our guidance. Our expectations for 2025 remain unchanged: we expect revenue in 2025 to reach at least € 6 billion and underlying profitability (adjusted EBITDA) to reach the low- to mid-thirties in percent of revenue.

Last but not least, I want to reassure you that we are closely following various macroeconomic factors. We continue, as ever, to evaluate consequences to the business environment diligently and to assess any potential near- and mid-term challenges that may emerge so that we can take action to mitigate the effects.

Wishing you a peaceful summer break and a safe and healthy second half of 2022. And if you would like to chat with me, you can find me at Antje.Witte@ucb.com.

I leave you with these key figures from the first six months of the year:

Revenue increased to € 2.93 billion (+5%, +3 CER) net sales € 2.70 billion (+2%, 0% CER), impacted, as expected, by generic erosion
Underlying profitability (adjusted EBITDA) was € 814 million (-3%, -2% CER) or 28% of revenue, impacted, as expected, by the inclusion of the new acquisition
Financial guidance for 2022 (updated June 24, 2022) confirmed: Revenue expected to reach € 5.3 – 5.4 billion, adjusted EBITDA in the range of 21 – 22% of revenue, Core EPS of € 3.70 – 4.00 expected
Financial guidance for 2025 remains unchanged: Revenue of at least € 6 billion and adj. EBITDA margin in the low to mid-thirties in percent of revenue.

investors

financials financial results half-year results half-year financial results

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2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

Vandenbruaene Nathalie — Thu, 24 Feb 2022 10:01:04 +0000

2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

Sandrine Dufour, EVP Chief Financial Officer

Vandenbruaene … Thu 24/02/2022 - 11:01

At ��ֳ�, we want to give people with severe diseases the freedom to live the life they like to live – a life that’s lived as free as possible from the challenge and uncertainty of disease. To achieve this ambition, we aspire to work in a way that puts sustainability as our business approach, generating value for all stakeholders, our employees, the communities around us, the planet and our shareholders. And as our 2021 results show, it’s a business approach that’s paying off.

Today we posted our 2021 full-year results. The results show that in a world that continues to navigate the COVID-19 pandemic, ��ֳ� is consistently delivering strong financial and extra-financial results for all our stakeholders, while living our purpose to make a truly meaningful impact on the lives of those living with severe diseases.

In 2021, we touched on the lives of over 3.7 million patients around the world, connecting the unmet needs of patients with innovative biological research and cutting-edge science. We delivered € 5 777 million in revenue and a 28% EBITDA margin, thanks to current core product growth and extensive efforts to serve new patient populations.

It was a busy year for ��ֳ�. In an unprecedented string of events, six positive Phase 3 study readouts came through from our late-stage pipeline, underlining the robustness of our position and long-term growth prospects. We initiated partnerships ranging from a multi-year strategic collaboration with Microsoft to bring innovative new medicines to life through pairing drug discovery with computational expertise, to partnering with Novartis to co-develop two drug candidates for Parkinson’s Disease. And we announced the planned acquisition of Zogenix to build on our heritage in epilepsy and further our work in developing therapies for rare diseases.

Our sustained financial strength goes hand in hand with our commitment to making a positive impact on society, by driving sustainable growth with solutions that make real improvements to people’s lives. Crucially, we believe that as well as creating value for patients, we need to create value for our employees, our shareholders, and our communities, all while respecting the planet. That’s because ultimately, every company, country and citizen is interconnected – what one of us does impacts the others. There are some good examples of this in the sustainability section to the Integrated Annual Report.

Loss of exclusivity (LOE) is a natural milestone in a drug’s lifecycle, and one we can anticipate and prepare for. The coming months will be marked by long-expected impacts from the loss of exclusivity of two of our anti-epileptic therapies, in Japan, the U.S. and the European Union. Yet ��ֳ� is set to enter an exciting new transition period where we plan for accelerated company growth.

Our new drug to treat people living with moderate to severe plaque psoriasis has recently been approved in the EU, Great Britain, Japan and Canada, with launches underway in numerous European countries. Subject to regulatory approvals, we hope to be able to bring it to people living with psoriasis in the U.S. in the first half of this year.

This drug has the potential to reach even more people – such as those living with axial spondyloarthritis or psoriatic arthritis – and we plan to submit to the regulatory agencies later this year. We’re also already preparing for the launch of two new complementary treatment options for people living with generalized Myasthenia Gravis. Here, we’re seeking regulatory approval with submission planned later this year.

I’m immensely proud of ��ֳ�’s performance in 2021, and what we’re on track to achieve together, which is no small feat. With more than 90 years behind us, our business footprint spans the globe – from our headquarters in Brussels to nearly 40 countries around the globe – and our patient impact stretches further still. And without a doubt, increasing our reach to innovate and differentiate is how we stay true to our purpose, to create value for patients – now and into the future.

investors

2021 Financials 2021 Financial results financials

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Why we have built our future on creating sustainable value for all stakeholders

Vandenbruaene Nathalie — Thu, 13 Jan 2022 15:05:54 +0000

Why we have built our future on creating sustainable value for all stakeholders

Antje Witte, Investor Relations

Vandenbruaene … Thu 13/01/2022 - 16:05

The COVID-19 pandemic has reminded us that life is what happens. Success requires us to reflect on the trends surrounding us and be ready to act.

The focus on agility – together with our partnerships – was the key theme running through our presentation at the 40th annual J.P. Morgan Healthcare Conference, which ran from January 10-13. Usually held in San Francisco – but, in response to the pandemic, held virtually this year – the J.P. Morgan Healthcare Conference is the kick-off for the new year in our investor communications.

A clear strategic growth path towards and beyond 2025
Currently, trends in healthcare, policy trends, ESG (Environment, Social and Governance) standards and digital disruption are only adding to the impact of the pandemic. We believe our sustainable patient value strategy supports us well to navigate these challenges in the ecosystem and deliver value for all stakeholders.

A successful future has to deliver value for all: people living with severe diseases, colleagues and communities, the planet and our shareholders. After all, we don’t want to create value for patients at the expense of others.

Our financial guidance 2025 reflects this approach. For 2025, we aim to lead in five specific patient populations and deliver at least €6 billion in revenue. We’re also aiming to continue to improve our ESG rating, having already made sustainability an integrated part of our business approach.

Building on a solid foundation
Our future is built on a strong foundation of values, people, focus, a sense of urgency and business acumen. We are a leader in epilepsy; we have a robust product portfolio as well as strong financials and strategic flexibility of our balance sheet, along with a promising late-stage clinical pipeline.

We firstly aim to continue to grow our existing medicines that are contributing to company growth and profitability, some of which have been there for 30 years. ��ֳ� offers four different treatments options for people living with epilepsy, addressing different patient populations. The success of our product portfolio enables us to act on new opportunities, including investing in next-generation science, like gene therapy. It also gives us room to focus on the promising candidates in our late-stage pipeline.

Preparing for the future
We strive for successful launches as we prepare for the upcoming exclusivity loss of two medicines. The launch of our new product for psoriasis promises to be a highlight for 2022; I believe it has the potential to transform the lives of so many people while changing our company too. It’s already available for patients in the EU and the UK, and while the pandemic may have delayed approval in the US, we’re hoping that we can launch in the US during 2022.

In addition to this exciting new product, we managed – despite the pandemic – six Phase 3 trials in parallel during 2020 and 2021. Three of them read out just recently, with the other three expected in the coming weeks. Out of the six Phase 3 studies reading out ‘as we speak’, two address people living with Myasthenia Gravis, a rare neurological disease. We aim to offer these patients different options to treat the disease.

Working together for sustainable success
If there was one thing that 2021 taught me, it’s that you can only win standing together.

We recognise our expertise and our limitations: we have great science, experience and expertise, but, in certain cases, we might be stronger with partners. We partner with Roche/Genentech to bring a promising potential Alzheimer Disease treatment option to patients, and with partner Novartis, a treatment option that has the potential to modify Parkinson’s Disease.

And with digital business transformation essential to the healthcare of the future, we partner with Microsoft to accelerate our science and deliver new R&D candidates in shorter times. We can complete computations that previously took months in days within this Microsoft partnership.

I’m impressed by our achievements and excited about the future. We are delivering, with peak sales for core products and Phase 3 results for pipeline assets. We are tracking towards successful launches set to amplify impact by 2025. We have strong R&D, great partnerships, solid financials and strategic flexibility for 2025 and beyond. With our continued focus on what matters to patients, we’re confident in creating sustainable value for all stakeholders now and into the future.

investors

J.P. Morgan Healthcare Conference J.P. Morgan

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��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

eCMSadmin — Thu, 29 Jul 2021 08:00:00 +0000

��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

Antje Witte, Investor Relations

eCMSadmin Thu 29/07/2021 - 10:00

As the world continues to adapt to the new norm, ��ֳ� continues to adapt, delivering strong performance. Our employees and partners have been extremely agile, responding to the changing environment. ��ֳ� is in a position of confidence – for our late-stage pipeline, for delivery on our ambitious targets and for our ability to lead in five patient populations in 2025.

The first half of 2021 has been another time of strong delivery and growth. I am so proud of how we have kept all our pipeline projects on track, despite the pandemic. All clinical development programs are on track, with six phase 3 studies to readout as planned plus one phase 3 readout, now expected earlier.

We’re excited to be preparing for the launch of our new asset for people living with psoriasis. In June, the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion, recommending granting marketing authorisation. And I’m also pleased to reveal that phase 3 readouts for additional indications for this same asset are on track by year-end, plus the one for hidradenitis suppurativa (HS) due to arrive early.

Also the two phase 3 readouts in myasthenia gravis for two different assets are unchanged expected late 2021 and early 2022.

I have full confidence in our late-stage pipeline and our ability to deliver on our short- and long-term guidance and lead in five patient populations in 2025. Our expectations for 2025 are confirmed: we aim for revenue in 2025 to reach at least € 6 billion and underlying profitability (adjusted EBITDA) to reach the low- to mid-thirties in per cent of revenue.

And, last but not least, I am satisfied of the steps forward in the areas of sustainability critical to our long-term success. Our progress – most predominantly around quality and risk – has been recognised by top sustainability rankings, including ISS ESG, MSCI and Sustainalytics.

Key numbers
The Investor Relations team has worked extremely hard preparing our HY21 financial report while handing over all the know how and tips and tricks from Nathalie to Julien and Alex.
(Plus my two cents :o) ) Nathalie has set her sails to new endavours and I am very thankful for the tremendous contribution she made - professionally and personally. The new IR Team at ��ֳ� is on hand to answer any questions you may have – test us! You might want to ask the financial questions towards Julien, our new Corporate Access and IR Manager – or chat with him about sports and his latest cocktail recipe. Discussing our pipeline and the science behind it gets engaging with Alex, our new Investor Relations Lead – you get a similar engagement when turning the discussion towards cowboys, good food and corresponding drinks. And, yes, you have my number – always happy to chat with you!

I leave you by wishing you a safe and healthy second half of 2021, and with these key figures from the first six months of the year:

Revenue increased to € 2.8 billion (+7%, +11% CER), net sales € 2,651 million (+6%, +11% CER)
Underlying profitability (adjusted EBITDA) was € 843 million (+8%, +16% CER) or 30% of revenue compared to the first six months of 2020
Financial guidance for 2021 is confirmed: Revenue expected to reach € 5.45 – 5.65 billion, adjusted EBITDA 27 - 28% of revenue, Core EPS of € 5.60 – 6.10 expected
Financial guidance for 2025 confirmed as well: Revenue of at least € 6 billion and adj. EBITDA margin in the low to mid-thirties.

investors

Financials financial results 2021 HY financial results 2021 half-year financials

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��ֳ� 2020 Financial Results: Continued growth while looking to the future

eCMSadmin — Thu, 25 Feb 2021 08:00:00 +0000

��ֳ� 2020 Financial Results: Continued growth while looking to the future

Antje Witte, Investor Relations

eCMSadmin Thu 25/02/2021 - 09:00

While 2020 has been a year like no other, ��ֳ� achieved a lot despite the pandemic. Our employees and partners showed strong resilience throughout. Together we continued to serve our patients, took good care of each other, and joined forces in the global response to COVID-19.

I’m proud to say that 2020 was another year of strong delivery and growth as you can see from our latest financial results. We also kept all pipeline projects on track after the pause in spring due to the pandemic. In September 2020, the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) accepted our marketing application submissions for our drug in the pipeline to treat adults with moderate to severe plaque psoriasis. We’re now excited to be preparing for its launch.

With our growth ambitions focused on creating value for patients both now and into the future, we share for the first time our projections for 2025. With a robust product portfolio and promising late-stage pipeline assets, we aim to lead in specific patient populations by 2025. Despite upcoming patent expirations, we expect revenue in 2025 to reach at least € 6 billion and underlying profitability (adjusted EBITDA) to reach the low- to mid-thirties in per cent of revenue.

Over the past year, we also made progress in the sustainability areas critical to our long-term success and contribution to society. We progressed access to medicines, launched our health, safety and well-being index, and established a Sustainability Governance Committee and an External Sustainability Advisory Board. Moreover, we also committed to the United Nations (UN) Global Compact.

Key numbers
It has been a busy period for our Finance, Sustainability, Communications and Investor Relations teams preparing this report. They remain on hand to answer any questions you may have. I am looking forward to e-meeting you in March and April at different events (conferences & roadshow) already in our diaries. I would like to take this opportunity to thank the teams at ��ֳ� for this great experience of collaboration.

I wish you all to stay safe and will leave you with these key figures from 2020, meeting our financial outlook for the past year:

Revenue increased to € 5.3 billion (+9%, +8% CER) net sales € 5.1 billion (+8%, +7% CER)
Underlying profitability (adjusted EBITDA) was € 1.4 billion (+1%, -4% CER) or 27% of revenue
Financial outlook for 2021: Revenue expected to reach € 5.45 – 5.65 billion, adjusted EBITDA 27 - 28% of revenue, Core EPS of € 5.60 – 6.10 expected.

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Leave a Comment

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Leave a Comment

������ֳ� successfully navigated the challenges of 2022 and is now set for an exciting launch year

Leave a Comment

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Leave a Comment

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Leave a Comment

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Leave a Comment

������ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

Leave a Comment

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Leave a Comment

Half-year results 2024: strong start into ��ֳ�’s decade of growth

��ֳ� successfully navigated the challenges of 2022 and is now set for an exciting launch year

��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

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