Sobi™ publishes its report for the fourth quarter and full year 2016

Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the fourth quarter and full year 2016. Revenues for the full year totalled SEK 5,204 M, an increase of 61 per cent compared to 2015. Revenues for the quarter were SEK 1,292, an increase of 59 per cent. Product sales for the full year amounted to SEK 4,548 M, an increase of 77 per cent, based on strong performance across the portfolio and the launch of our new haemophilia products, Elocta® and Alprolix®.

Business highlights Q4 2016

  • European Commission approved the transfer of the marketing authorisation for Alprolix to Sobi
  • European Commission granted SOBI003 orphan designation for the treatment of MPS IIIA (Sanfilippo A Syndrome)
  • European study of real-life haemophilia treatment emphasises the need to improve standard of care
  • In collaboration with Bioverativ, data were presented reinforcing the long-term safety and efficacy of Elocta and Alprolix
  • Sobi entered into a distribution agreement with Horizon Pharma for Ravicti® and Ammonaps®

Financial summary Q4 2016 (Q4 2015)

  • Total revenue of SEK 1,292 M (814), an increase of 59 per cent (54 per cent at CER)
  • Product revenue of SEK 1,144 M (698), an increase of 64 per cent (58 per cent at CER)
  • Gross margin of 67 per cent (64)
  • EBITA of SEK 210 M (90)
  • Earnings per share 0.37 SEK (-0.04)

Financial summary FY 2016 (2015)

  • Total revenue of SEK 5,204 M (3,228), an increase of 61 per cent
  • Product revenue of SEK 4,548 M (2,568), an increase of 77 per cent
  • Gross margin of 70 per cent (62)
  • EBITA of SEK 1,543 M (433)
  • Ended the year with a cash position of SEK 786 M
  • Earnings per share 3.01 SEK (0.24)

“2016 was a highly significant year for Sobi. We delivered strong financial performance across the portfolio, we established a platform for transformational growth through the launch of two innovative state-of-the-art treatments for haemophilia in Europe and the Middle East, and we took several important steps forward with our pipeline of innovative therapies for rare diseases”, says Sobi’s CEO and President Geoffrey McDonough.

Financial summary
Q4 Q4 Full year Full year
Amounts in SEK M 2016 2015 Change 2016 2015 Change
Total revenues(1) 1,292 814 59% 5,204 3,228 61%
Gross profit 860 520 65% 3,651 2,007 82%
Gross margin 67% 64% 70% 62%
EBITA 210 90 1,543 433
EBIT (Operating profit/loss) 100 17 1,133 146
Profit/loss for the period 100 -10 809 65
(1)Full year 2016 revenues include a one time credit in Q1 of SEK 322 M relating to the first commercial sales of Elocta, and a one time credit in Q2 of SEK 386 M relating to first commercial sales of Alprolix.

Outlook 2017*

Sobi expects revenues for the full year to be in the range of SEK 5,800 to 6,000 M.

Gross margin is expected to be in the range of 66 to 68 per cent.

Sobi expects EBITA for the full year to be in the range of SEK 1,600 to 1,700 M.

*At current exchange rates 

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Sobi's report for the fourth quarter and FY 2016 can be found on http://www.sobi.com/Investors--Media/Financial-Reports/

About Sobi™

Sobi™ is an international speciality healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Haemophilia, Inflammation and Genetic diseases. We also market a portfolio of speciality and rare disease products across Europe, the Middle East, North Africa and Russia for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2016, Sobi had total revenues of SEK 5.2 billion (USD 608 M) and approximately 760 employees. The share (STO:SOBI) is listed on Nasdaq Stockholm. More information is available at www.sobi.com

For more information please contact  

 Media relations Investor relations
 Linda Holmström, Senior Communications Manager Jörgen Winroth, Vice President, Head of Investor Relations
 +46 70 873 40 95 +1 347-224-0819, +1 212-579-0506, +46 8 697 2135
  linda.holmstrom@sobi.com   jorgen.winroth@sobi.com  

This information is information that Swedish Orphan Biovitrum AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of Linda Holmström, Senior Communications Manager, at 08:00 am CET on 16 February 2017.  

Swedish Orphan Biovitrum AB
Postal address SE-112 76 Stockholm, Sweden
Phone: 46 8 697 20 00     www.sobi.com

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