AstraZeneca - First Quarter Results 2000

AstraZeneca PLC First Quarter Results 2000 '15 per cent profits growth: performance on track' Financial Highlights (before Exceptional Items) st st Group 1 1 Constant (inc Agrochemicals) Quarter Quarter Currency 2000 1999* % $m $m Sales 4,598 4,314 +10 Operating Profit 1,077 948 +15 Profit before Tax 1,118 971 +17 Earnings per Share Group $0.44 $0.39 +14 Group (Statutory $0.41 $0.40 FRS3) * Excluding Specialties All narrative in this section refers to growth rates at constant exchange rates * Sales up 10 per cent ; Agrochemicals sales up 12 per cent * Operating profit up 15 per cent; Agrochemicals operating profit up 30 per cent * Profit before Tax of $1,118 million, up 17 per cent * EPS up 14 per cent * Strength of US Dollar versus Euro reduced reported sales by 3 per cent and operating profit by 1 per cent st st Ongoing 1 1 Constant (excl Agrochemicals) Quarter Quarter Currency 2000 1999 % $m $m Sales 3,892 3,651 +10 Operating Profit 976 877 +14 Earnings per Share $0.41 $0.36 +17 All narrative in this section refers to growth rates for ongoing operations at constant exchange rates @ Sales up 10 per cent; US Healthcare sales up 16 per cent @ Operating profit up 14 per cent @ EPS up 17 per cent @ Healthcare operating margin increased to 25.5 per cent @ Strength of US Dollar versus Euro reduced reported sales and operating profit by 3 per cent @ Synergy benefits of $120 million achieved in the quarter; exceptional charge of $83 million related to the ongoing integration and synergy programmes Tom McKillop, Chief Executive Officer, said: "The year has started encouragingly. Our Healthcare business achieved record profits and it is pleasing to see a positive start for Agrochemicals, although it is still too early in the season to predict the outcome for the year. "The strengthening of the dollar, particularly against the Euro, reduced reported sales and profits for our ongoing operations by three per cent and this trend is expected to continue thoroughout the rest of the year. These first quarter results in Healthcare were also adversely affected by some $70 million of sales late last year in anticipation of Year 2000 effects. "2000 will be a very important year for AstraZeneca. The Group restructuring should be completed with the formation of Syngenta, anticipated during the second half of the year. Within Healthcare we are on track to meet our milestones with new product development and launches. ® In March Nexium , our next generation Proton Pump Inhibitor (PPI), received its first approval in Sweden ahead of expectations: a number of major European launches will follow during the second half of the year. This together with further launches across the product range and a build- up in development activities will weight costs more to the second half. The quarterly pattern of sales growth is also anticipated to be stronger in the later part of the year. "On a constant exchange rate basis, we remain on track to achieve the financial targets announced at the Annual Results presentation in February." London, 3 May 2000 Media Enquiries: Steve Brown/Lucy Williams(020) 7304 (London) 5033/5034 Mikael Widell (Södertälje) +46 70 311 99 60 Staffan Ternby (Södertalje) +46 70 557 43 00 Rachel Bloom (Wilmington) (302) 886 7858 Analyst/Investor Elizabeth Sutton/Michael(020) 7304 Enquiries: Olsson (London) 5101/5087 Staffan Ternby (Södertalje) (8) 553 26107 Ed Seage (Wilmington) (302) 886 4065 Jörgen Winroth (Wayne) (609) 896 4148 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/03/20000503BIT00470/bit0002.pdf The full report http://www.bit.se/bitonline/2000/05/03/20000503BIT00470/bit0001.doc The full report