Sobi publishes report for the first quarter 2020

Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the first quarter 2020. Revenue growth for the quarter was 42 per cent with revenue of SEK 4,639 M. EBITA was SEK 2,173 M, resulting in an EBITA margin of 47 per cent for the quarter.

January—March

  • Total revenue of SEK 4,639 M (3,265), 42 per cent revenue growth in the quarter compared with Q1 2019 (37 per cent at constant exchange rates (CER))
  • EBITA1  was SEK 2,173 M (1,509), an increase of 44 per cent
  • Earnings per share (EPS) of SEK 4.02 (3.14)
  • Net debt1 of SEK 14,198 M at 31 Mar 2020 (SEK 15,404 M at 31 Dec 2019)
  • Elocta® sales were SEK 1,359 M (991) and Alprolix® sales were SEK 488 M (337)
  • Sales for Gamifant® amounted to SEK 104 M (89), Synagis® sales were SEK 1,196 M (SEK 665 M in Q1 2019, 23 January—31 March) and Kineret® sales amounted to SEK 501 M (346)
  • Sobi initiated a short-term clinical study with anakinra and emapalumab as potential treatments for hyperinflammatory and cytokine storm syndrome related to severe COVID-19

Outlook 20202 – unchanged

Outlook for full-year 2020 of revenue in the range of SEK 15,000—16,000 M and EBITA in the range of SEK 5,500—6,300 M communicated in the Q4 2019 report remains unchanged in spite of the uncertainty concerning the full-year impact on the market due to the COVID-19 pandemic.

 

Financial Summary

Q1

Q1 Full-year
Amounts in SEK M 2020 2019 Change 2019
Total revenue 4,639 3,265 42% 14,248
Gross profit 3,598 2,494 44% 10,913
Gross margin1 78% 76% 77%
EBITA1 2,173 1,509 44% 5,933
EBITA adjusted1,3 2,173 1,471 48% 6,145
EBITA margin1 47% 46% 42%
EBITA margin adjusted1,3 47% 45% 43%
Profit for the period 1,182 903 31% 3,304
Earnings per share, SEK 4.02 3.14 28% 11.29
Earnings per share, SEK adjusted1,3,4 4.02 3.03 32% 11.89
1Alternative Performance Measures (APMs).
2At current exchange rates as of 13 February 2020.
3EBITA Full-year 2019 excluding non-recurring items; transaction costs related to the acquisition of Dova in Q4 of SEK 92 M, restructuring costs of SEK 157 M in Q2 2019 and gain from divestment of SOBI005 in Q1 2019 of SEK 37 M.
4EPS Full-year 2019 excluding impairment of intangible assets of SEK 18 M related to restructuring in Q2 2019.


















 

Guido Oelkers, CEO and President:

“Total revenue for the first quarter 2020 was SEK 4,639 M, up 42 per cent year-on-year, while EBITA was SEK 2,173 M. The COVID-19 pandemic posed challenges for Sobi, as for the rest of the world, during the first quarter. Measures such as travel restrictions and working from home were put in place to protect our employees and their families and to prevent spreading the coronavirus. Our global supply team has done a remarkable job in ensuring that patients do not go without their life-saving medicines. In response to a request from the National Institute for Infectious Diseases in Italy, Sobi initiated a phase 2/3 study with anakinra and emapalumab as potential treatments for hyperinflammatory and cytokine storm syndrome related to severe COVID-19, the illness caused by the coronavirus.”

Telephone conference:

Financial analysts and media are invited to participate in a telephone conference, which will include a presentation of the Q1 results, today at 13:00 am CET. 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 58
UK: +44 333 300 9272
US: +1 646 722 4904

Click here to go to the live webcast.

After the live event the webcast will be available on-demand via the same URL.
 

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About Sobi™
Sobi is a specialised international biopharmaceutical company transforming the lives of people with rare diseases. Sobi is providing sustainable access to innovative therapies in the areas of haematology, immunology and specialty indications. Today, Sobi employs approximately 1,400 people across Europe, North America, the Middle East, Russia and North Africa. In 2019, Sobi’s revenues amounted to SEK 14.2 billion. 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
+ 46 733 666 599

paula.treutiger@sobi.com

Linda Holmström, Corporate Communication & Investor Relations
+ 46 708 734 095

linda.holmstrom@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, Corporate Communication and Investor Relations, at 08:00 CET on 29 April 2020.

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

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Quotes

Total revenue for the first quarter 2020 was SEK 4,639 M, up 42 per cent year-on-year, while EBITA was SEK 2,173 M. The COVID-19 pandemic posed challenges for Sobi, as for the rest of the world, during the first quarter.
Guido Oelkers, CEO and President