Sobi publishes report for the first quarter 2021

Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the first quarter 2021. Total revenue amounted to SEK 3,661 M, a decrease of 13 per cent at CER compared with the same period 2020. EBITA was SEK 1,484 M, resulting in an EBITA margin of 41 per cent.

January – March

  • Total revenue of SEK 3,661 M (4,639), -21 per cent and -13 per cent at CER
  • EBITA1 was SEK 1,484 M (2,173), with an EBITA margin1 of 41 per cent (47)
  • Earnings per share (EPS) before dilution of SEK 2.36 (4.02)
  • Haematology sales were SEK 1,877 M (2,394), Doptelet® grew by 222 per cent at CER to SEK 180 M
  • Sales for Elocta® was SEK 857 M (1,359), for Alprolix® SEK 413 M (488), with patient growth of 6 and 16 per cent
  • Immunology sales were SEK 1,554 M (1,800), Gamifant® grew by 47 per cent at CER to SEK 133 M
  • Cash flow from operating activities of SEK 1,699 M (1,886)
  • Doptelet (avatrombopag) was approved in the EU for treatment of ITP
  • Kineret® (anakinra) was approved in Russia for the treatment of CAPS

Financial outlook 2021 – unchanged

  • Revenue for the full-year 2021 is expected to be in the range of SEK 14,000–15,000 M
  • EBITA margin is expected to be in the range of 30—35 per cent of revenue

Significant event after the reporting period

  • In May, Sobi and Hellenic Institute for the Study of Sepsis reported that use of anakinra improved overall clinical outcomes by 64% in hospitalised patients with COVID-19 pneumonia.

Guido Oelkers, CEO and President:

“The COVID-19 pandemic, with its related restrictions and lockdowns, has continued to impact our markets and operations. I believe that we will be able to recover many of the adverse effects of COVID-19 over time. Despite this unfavourable environment we have been able to strategically progress our core portfolio. We have advanced key products, such as pegcetacoplan and efanesoctocog alfa, in our R&D portfolio, and we are exploring new opportunities for anakinra for the treatment of hyperinflammation related to COVID-19.“

Financial Summary

Q1 Q1 Full-year
Amounts in SEK M 2021 2020 Change 2020
Total revenue 3,661 4,639 -21% 15,261
Gross profit 2,935 3,598 -18% 12,036
Gross margin1 80% 78% 79%
EBITA1 1,484 2,173 -32% 6,700
EBITA adjusted1,2 1,484 2,173 -32% 6,301
EBITA margin1 41% 47% 44%
EBITA margin adjusted1,2 41% 47% 41%
Profit for the period 696 1,182 -41% 3,245
Earnings per share, before dilution, SEK 2.36 4.02 -41% 11.01
Earnings per share, before dilution,  SEK adjusted1,2,3 2.36 4.02 -41% 9.66
1Alternative Performance Measures (APMs). 
2EBITA full-year 2020 excluding non-recurring items; other operating income related to the reversal of the CVR liability of SEK 399 M.
3EPS full-year 2020 excluding the reversal of the CVR liability of SEK 399 M. 

Telephone conference

Investors, financial analysts and media are invited to participate in a telephone conference, which will include a presentation of the results, on the same day at 13:00 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 57

UK: +44 3 333 009 268

US: +1 646 722 49 04

Click here to go to the live webcast.

After the live event the webcast will be available on-demand via the same link.
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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. Sobi employs approximately 1,500 people across Europe, North America, the Middle East, Russia and Asia. In 2020, Sobi’s revenues amounted to SEK 15.3 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. You can find more information about Sobi at 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 the contact person set out below, at 08:00 CET on 4 May 2021.

For more information please contact

Paula Treutiger, Head of Communication & Investor Relations
+ 46 733 666 599

paula.treutiger@sobi.com

Maria Kruse, Corporate Communication & Investor Relations
+ 46 767 248 830

maria.kruse@sobi.com

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

The COVID-19 pandemic, with its related restrictions and lockdowns, has continued to impact our markets and operations. I believe that we will be able to recover many of the adverse effects of COVID-19 over time. Despite this unfavourable environment we have been able to strategically progress our core portfolio. We have advanced key products, such as pegcetacoplan and efanesoctocog alfa, in our R&D portfolio, and we are exploring new opportunities for anakinra for the treatment of hyperinflammation related to COVID-19.
Guido Oelkers, CEO and President