STOCKHOLM, July 17, 2019 /PRNewswire/ -- Swedish Orphan
Biovitrum AB (publ) (Sobi™) today announces its results for the
second quarter 2019. Total revenue was SEK
3,163 M (2,289), with 38 per cent revenue growth in the
quarter compared with Q2 2018 (32 per cent at constant exchange
rates (CER)). Organic growth(1) amounted to 25 per cent compared
with Q2 2018. Adjusted EBITA(1,2) was SEK
1,193 M, an increase of 25 per cent, excluding restructuring
costs of SEK 157 M related to the
reorganisation of R&D.
Highlights (April – June)
- Total revenue of SEK 3,163
M (2,289). 38 per cent revenue growth in the quarter
compared with Q2 2018 (32 per cent at constant exchange rates
(CER))
- Adjusted EBITA(1,2) was SEK 1,193
M (951), an increase of 25 per cent
- Earnings per share (EPS) of SEK
1.70 (2.54) and adjusted EPS(1,2,3) of 2.12 SEK (2.54)
- Net debt(1 )of SEK 4,403 M
at 30 June 2019 (-2,999 at
31 Dec 2018)
- Sales for Elocta® were SEK 1,127
M (794) and sales for Alprolix® were SEK 382 M (263)
- Continued strong performance for Gamifant® with sales
amounting to SEK 205 M
- Sales for Synagis® were SEK 148
M
- Purchase agreement of CHF 515
M (SEK 4,897 M) for emapalumab
and related assets was signed
- Sharpened strategic focus on core areas of Haematology
and Immunology, and on late-stage assets. As a consequence Sobi has
the intention to discontinue early research and partner programmes
outside core areas, generating annual savings of SEK 200-300 M in
2020. Restructuring costs for the quarter amounted to SEK 175 M, whereof SEK 157
M impacted EBITA and SEK 18 M
related to impairment of intangible assets
- New data on emapalumab in patients with macrophage
activation syndrome (MAS), a form of secondary HLH complicating
systemic juvenile idiopathic arthritis (sJIA), showed that
treatment with emapalumab led to a complete response in all six
patients with a favourable safety profile
Financial Summary
|
Q2
|
Q2
|
|
H1
|
H1
|
|
Full-year
|
Amounts in SEK
M
|
2019
|
2018
|
Change
|
2019
|
2018
|
Change
|
2018
|
Total
revenue
|
3,163
|
2,289
|
38%
|
6,427
|
4,253
|
51%
|
9,139
|
Gross
profit
|
2,413
|
1,677
|
44%
|
4,907
|
3,089
|
59%
|
6,723
|
Gross
margin(1)
|
76%
|
73%
|
|
76%
|
73%
|
|
74%
|
EBITA(1)
|
1,037
|
951
|
9%
|
2,546
|
1,722
|
48%
|
3,571
|
EBITA
adjusted(1,2)
|
1,193
|
951
|
25%
|
2,665
|
1,722
|
55%
|
3,571
|
EBITA
margin(1)
|
33%
|
42%
|
|
40%
|
40%
|
|
39%
|
EBITA margin
adjusted(1,2)
|
38%
|
42%
|
|
41%
|
40%
|
|
39%
|
EBIT (operating
profit)
|
677
|
841
|
-19%
|
1,905
|
1,500
|
27%
|
3,122
|
Profit for the
period
|
499
|
685
|
-27%
|
1,402
|
1,200
|
17%
|
2,418
|
Earnings per share,
SEK
|
1.70
|
2.54
|
-33%
|
4.82
|
4.45
|
8%
|
8.97
|
Earnings per share,
SEK adjusted(1,2,3)
|
2.12
|
2.54
|
-17%
|
5.14
|
4.45
|
16%
|
8.97
|
(1)Alternative
Performance Measures (APMs).
|
(2)EBITA excluding
non-recurring items; restructuring costs of SEK 157 M in Q2 2019
and gain from divestment of SOBI005 in Q1 2019 of SEK 37
M.
|
(3)EPS excluding
impairment of intangible assets of SEK 18 M related to the
restructuring in Q2 2019.
|
|
|
|
Guido Oelkers, CEO and
President:
"Our strong performance continued in the second quarter, with
organic growth of 25 per cent taking us to revenue of SEK 3,163 M, adjusted EBITA of SEK 1,193 M and an adjusted EBITA margin of 38
per cent. Announcing the acquisition of emapalumab and related
assets, we took further steps to sharpen focus on our core
therapeutic areas and on late-stage assets."
Financial outlook 2019 — updated
Sobi expects revenue for the full year to be in the range of
SEK 13,000 - 13,500 M(1)(12,500 - 13,000)(2).
EBITA for the full year is expected to be in the range of
SEK 5,300 - 5,500 M(1)(5,000 - 5,300)(2), excluding
restructuring costs.
The updated outlook reflects the continued strong product sales
in Haemophilia and the promising uptake of Gamifant in the US.
(1)At current exchange rates.
(2)The initial outlook was first published on 20 February 2019.
Telephone conference:
Financial analysts and media are invited to participate in a
telephone conference, which will include a presentation of the
results, today at 09:00 am
CEST. The event will be hosted by Sobi's CEO and
President, Guido Oelkers, and the
presentation will be held in English.
The presentation can be followed live, or afterwards on
www.sobi.com. Slides used in the presentation will be made
available on Sobi's website prior to the telephone conference.
To participate in the telephone conference, please call:
SE: +46-8-505-583-55
UK: +44-33-330-090-30
US: +1-646-7224-957
Click here to go to the live webcast.
After the live event the webcast will be available on-demand
via the same URL.
About Sobi™
At Sobi, we are transforming the lives of people affected by
rare diseases. As a specialised international biopharmaceutical
company, we provide sustainable access to innovative therapies in
the areas of haematology, immunology and specialty care. We bring
something rare to rare diseases – a belief in the strength of
focus, the power of agility and the potential of the people we are
dedicated to serving. The hard work and dedication of our
approximately 1050 employees around the globe has been instrumental
in our success across Europe,
North America, the Middle East, Russia and North
Africa, leading to total revenues of SEK 9.1 billion in 2018. Sobi's share (STO:SOBI)
is listed on Nasdaq Stockholm. You can find more information about
Sobi at www.sobi.com.
For more information please contact
Paula Treutiger, Head
of Communication & Investor Relations
|
Jörgen Winroth,
Senior IR Advisor
|
|
+
46-733-666-599
|
+1-347-224-0819,
+1-212-579-0506
|
|
paula.treutiger@sobi.com
|
jorgen.winroth@sobi.com
|
|
|
|
|
Linda Holmström,
Corporate Communication & Investor Relations
|
|
|
+
46-708-734-095
|
|
|
linda.holmstrom@sobi.com
|
|
|
This information was brought to you by Cision
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https://news.cision.com/swedish-orphan-biovitrum-ab/r/sobi-publishes-report-for-second-quarter-2019,c2864584
The following files are available for download:
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|
Sobi Q2 2019
report
|
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SOURCE Swedish Orphan Biovitrum AB