Sobi publishes report for the fourth quarter and full-year 2020
Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the fourth quarter and full-year 2020. Revenue growth for the full-year was 7 per cent with revenue of SEK 15,261 M. Adjusted EBITA was SEK 6,301 M, resulting in an adjusted EBITA margin of 41 per cent for the full year.
October – December
- Total revenue of SEK 4,581 M (4,890), -6 per cent (-2 per cent at CER)
- Adjusted EBITA1,2 was SEK 2,177 M (2,380), with an adjusted EBITA margin1,2 of 48 per cent (49). Adjusted EBITA excludes positive impact from reversal of the CVR liability of SEK 399 M
- Earnings per share (EPS) of SEK 5.09 (4.62), before dilution
- Sales for Elocta® were SEK 1,071 M (1,235) and for Alprolix® SEK 419 M (405)
- Sales for Doptelet® were SEK 191 M (34)
- Sales for Kineret® were SEK 586 M (396), for Synagis® SEK 1,432 M (1,656) and for Gamifant®
SEK 263 M (180) - Cash flow from operations of SEK 858 M (976)
- Sobi and Apellis entered collaboration for global co-development and ex-US commercialisation of systemic pegcetacoplan in rare diseases with urgent need for new treatments
January – December
- Total revenue of SEK 15,261 M (14,248), 7 per cent growth (8 per cent at CER)
- Adjusted EBITA1,2 was SEK 6,301 M (6,145), an increase of 3 per cent, with an adjusted EBITA margin1,2 of 41 per cent (43)
- EPS of SEK 11.01 (11.29), before dilution
- Sales for Elocta were SEK 4,585 M (4,508) and for Alprolix SEK 1,705 M (1,463)
- Sales for Doptelet were SEK 587 M (34)
- Sales for Kineret were SEK 2,079 M (1,571), for Synagis SEK 2,726 M (2,594 for the period
23 Jan—31 Dec, 2019) and for Gamifant SEK 609 M (542) - Cash flow from operations of SEK 5,214 M (3,634)
Outlook 2021
- 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
Guido Oelkers, CEO and President:
“2020 was a year of extreme challenges but also great opportunities. The COVID-19 pandemic created a challenging situation for the whole organisation, which did its utmost to serve customers and ensure supply to patients. At the same time, we entered two important strategic partnerships fuelling our pipeline, strengthening our international footprint and enabling strong future growth. We closed the full year 2020 with solid revenue of SEK 15,261 M, both core areas showing double-digit growth. Adjusted EBITA grew by 3 per cent to SEK 6,301 M.”
Financial Summary
| Amounts in SEK M | Q4 2020 | Q4 2019 | Change | Full-year 2020 | Full-year 2019 | Change |
| Total revenue | 4,581 | 4,890 | -6% | 15,261 | 14,248 | 7% |
| Gross profit | 3,718 | 3,833 | -3% | 12,036 | 10,913 | 10% |
| Gross margin1 | 81% | 78% | 79% | 77% | ||
| EBITA1 | 2,576 | 2,288 | 13% | 6,700 | 5,933 | 13% |
| EBITA adjusted1,2 | 2,177 | 2,380 | -9% | 6,301 | 6,145 | 3% |
| EBITA margin1 | 56% | 47% | 44% | 42% | ||
| EBITA margin adjusted1,2 | 48% | 49% | 41% | 43% | ||
| Profit for the period | 1,502 | 1,360 | 10% | 3,245 | 3,304 | -2% |
| Earnings per share, before dilution, SEK | 5.09 | 4.62 | 10% | 11.01 | 11.29 | -2% |
| Earnings per share, before dilution, SEK adjusted1,2, 3 | 3.74 | 4.90 | -24% | 9.66 | 11.89 | -19% |
1Alternative Performance Measures (APMs).
2EBITA Q4 and full-year 2020 excluding non-recurring item; other operating income related to the reversal of the CVR liability of SEK 399 M. EBITA 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 Q4 and full-year 2020 excluding the reversal of the CVR liability of SEK 399 M. EPS 2019 excluding impairment of intangible assets of SEK 18 M related to restructuring in Q2.
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 8 566 426 95
UK: +44 3 333 009 263
US: +1 646 722 49 03
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 18 February 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