Sobi publishes report for third quarter 2019
Swedish Orphan Biovitrum AB (publ) (Sobi™) today announces its results for the third quarter 2019. Revenue growth in the quarter was 27 per cent with revenue of SEK 2,930 M (2,315). EBITA was SEK 1,099 M, resulting in an EBITA margin of 38 per cent.
Highlights (July – September)
- Total revenue of SEK 2,930 M (2,315), 27 per cent revenue growth in the quarter compared with Q3 2018 (22 per cent at constant exchange rates (CER))
- EBITA(1) was SEK 1,099 M (933), an increase of 18 per cent
- Earnings per share (EPS) of SEK 1.84 (2.31)
- Net debt(1) of SEK 7,606 M at 30 September 2019 (net cash of SEK 2,999 M at 31 Dec 2018)
- Sales for Elocta® were SEK 1,156 M (873) and sales for Alprolix® were SEK 341 M (255)
- Sales for Gamifant® amounted to SEK 67 M, Synagis® sales were SEK 124 M and Kineret® sales amounted to SEK 409 M
- Announcement of the intention to acquire Dova PharmaceuticalsTM* expanding scope of Haemophilia franchise into the broader area of haematology
- Entered an expanded agreement with Sanofi to exercise early opt-in for the development and commercialisation of BIVV001, a potential once-weekly dosing for people with haemophilia A, and a follow-on product to Elocta
- Completion of acquisition of emapalumab and related assets
Financial Summary
| Q3 | Q3 | Jan-Sep | Jan-Sep | Full-year | ||||
| Amounts in SEK M | 2019 | 2018 | Change | 2019 | 2018 | Change | 2018 | |
| Total revenue | 2,930 | 2,315 | 27% | 9,358 | 6,568 | 42% | 9,139 | |
| Gross profit | 2,173 | 1,741 | 25% | 7,080 | 4,830 | 47% | 6,723 | |
| Gross margin(1) | 74% | 75% | 76% | 74% | 74% | |||
| EBITA1 | 1,099 | 933 | 18% | 3,645 | 2,655 | 37% | 3,571 | |
| EBITA adjusted(1,2) | 1,099 | 933 | 18% | 3,764 | 2,655 | 42% | 3,571 | |
| EBITA margin(1) | 38% | 40% | 39% | 40% | 39% | |||
| EBITA margin adjusted(1,2) | 38% | 40% | 40% | 40% | 39% | |||
| EBIT (operating profit) | 754 | 820 | -8% | 2,659 | 2,320 | 15% | 3,122 | |
| Profit for the period | 542 | 623 | -13% | 1,944 | 1,823 | 7% | 2,418 | |
| Earnings per share, SEK | 1.84 | 2.31 | -20% | 6.66 | 6.77 | -2% | 8.97 | |
| Earnings per share, SEK adjusted(1,2,3) | 1.84 | 2.31 | -20% | 6.98 | 6.77 | 3% | 8.97 | |
| (1)Alternative Performance Measures (APMs). | ||||||||
| (2)EBITA for the nine months of 2019 excluding non-recurring items | ||||||||
| (3)EPS for the nine months of 2019 excluding impairment of intangible assets of SEK 18 M related to restructuring in Q2 2019. | ||||||||
Guido Oelkers, CEO and President:
“Our growth journey continued in the third quarter, strengthening our Haematology franchise with the announcements of the intention to acquire Dova Pharmaceuticals1and our decision to opt in early to the development of BIVV001. Revenue growth in the quarter was 27 per cent with revenue of SEK 2,930 M (2,315). EBITA was SEK 1,099 M, resulting in an EBITA margin of 38 per cent.”
Telephone conference:
Financial analysts and media are invited to participate in a telephone conference, which will include a presentation of the Q3 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 92 66
US: +1 646 722 49 02
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 2018, Sobi’s revenues amounted to SEK 9.1 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
(*)Offer of Dova Pharmaceuticals conditional upon the tender of a majority of the outstanding shares of Dova’s common stock, as well as customary conditions.
Swedish Orphan Biovitrum AB (publ)
Postal address SE-112 76 Stockholm, Sweden
Phone: 46 8 697 20 00 www.sobi.com