Sobi publishes report for the fourth quarter and full-year 2019
Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the fourth quarter and full-year 2019. Revenue growth for the full-year was 56 per cent with revenue of SEK 14,248 M. Adjusted EBITA was SEK 6,145 M, resulting in an adjusted EBITA margin of 43 per cent for the full year.
October—December
- Total revenue of SEK 4,890 M (2,571), 90 per cent revenue growth in the quarter compared with Q4 2018 (82 per cent at constant exchange rates (CER))
- Adjusted EBITA1,2 was SEK 2,380 M (916), an increase of 160 per cent
- Earnings per share (EPS) of SEK 4.62 (2.20)
- Net debt1 of SEK 15,404 M at 31 Dec 2019 (net cash of SEK 2,999 M at 31 Dec 2018)
- Elocta® sales were SEK 1,235 M (945) and Alprolix® sales were SEK 405 M (303)
- Sales for Gamifant® amounted to SEK 180 M, Synagis® sales were SEK 1,656 M and Kineret® sales amounted to SEK 396 M (335)
- Acquisition of Dova PharmaceuticalsTM was completed
January–December
- Total revenue of SEK 14,248 M (9,139), 56 per cent revenue growth Jan-Dec compared with Jan-Dec 2018 (48 per cent at CER)
- Adjusted EBITA1,2 was SEK 6,145 M (3,571), an increase of 72 per cent
- Earnings per share (EPS) of SEK 11.29 (8.97)
- Elocta sales were SEK 4,508 M (3,261) and Alprolix sales were 1,463 M (974)
- Gamifant sales amounted to SEK 542 M in first year of launch
- Synagis sales for the period 23 Jan - 31 Dec were SEK 2,594 M
- Kineret sales were SEK 1,571 M (1,320), an increase of 19 per cent (12 per cent at CER)
Outlook 20204
- Revenue for the full-year 2020 is expected to be in the range of SEK 15,000 – 16,000 M reflecting double-digit growth in each of the two core businesses, Haematology and Immunology
- EBITA is expected to be in the range of SEK 5,500 - 6,300 M, including the development and launch of Doptelet® which will affect EBITA negatively by around SEK 500 M in 2020
Financial review
| Q4 | Q4 | Full-year | Full-year | |||
| Amounts in SEK M | 2019 | 2018 | Change | 2019 | 2018 | Change |
| Total revenue | 4,890 | 2,571 | 90% | 14,248 | 9,139 | 56% |
| Gross profit | 3,833 | 1,894 | 102% | 10,913 | 6,723 | 62% |
| Gross margin1 | 78% | 74% | 77% | 74% | ||
| EBITA1 | 2,288 | 916 | 150% | 5,933 | 3,571 | 66% |
| EBITA adjusted1,2 | 2,380 | 916 | 160% | 6,145 | 3,571 | 72% |
| EBITA margin1 | 47% | 36% | 42% | 39% | ||
| EBITA margin adjusted1,2 | 49% | 36% | 43% | 39% | ||
| EBIT (operating profit) | 1,874 | 802 | 134% | 4,533 | 3,122 | 45% |
| Profit for the period | 1,360 | 595 | 129% | 3,304 | 2,418 | 37% |
| Earnings per share, SEK | 4.62 | 2.20 | 110% | 11.29 | 8.97 | 26% |
| Earnings per share, SEK adjusted1,2,3 | 4.90 | 2.20 | 122% | 11.89 | 8.97 | 33% |
| 1Alternative Performance Measures (APMs). | ||||||
| 2EBITA 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 and gain from divestment of SOBI005 in Q1 of SEK 37 M. | ||||||
| 3EPS full-year 2019 excluding impairment of intangible assets of SEK 18 M related to restructuring in Q2. 4At current exchange rates |
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Guido Oelkers, CEO and President:
“The year ended on a very strong note. Total revenue for full-year 2019 was SEK 14,248 M, up 56 per cent year-on-year, while adjusted EBITA was SEK 6,145 M. Our Immunology business was strengthened early in the year with the acquisitions of the US rights for Synagis and of Gamifant (emapalumab) and all related assets. We also expanded into Haematology with the acquisition of Doptelet, a product used for indications within the area of thrombocytopenia.”
Telephone conference:
Financial analysts and media are invited to participate in a telephone conference, which will include a presentation of the Q4 and FY results, today at 10:00 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 55
UK: +44 333 300 9272
US: +1 646 722 4902
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 1,300 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 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 13 February 2020.
Swedish Orphan Biovitrum AB (publ)
Postal address SE-112 76 Stockholm, Sweden
Phone: 46 8 697 20 00 www.sobi.com