Sobi Publishes Report for the Fourth Quarter and Full-year 2019
STOCKHOLM, Feb. 13, 2020 /PRNewswire/ -- Swedish Orphan Biovitrum AB (publ) (Sobi(TM)) 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 EBITA(1,2) was SEK 2,380 M (916), an increase of 160 per cent
-- Earnings per share (EPS) of SEK 4.62 (2.20)
-- Net debt(1) 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 Pharmaceuticals(TM) 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 EBITA(1,2) 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 2020(4)
-- 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 margin(1) 78% 74% 77% 74%
EBITA(1) 2,288 916 150% 5,933 3,571
66%
EBITA adjusted1,2 2,380 916 160% 6,145 3,571
72%
EBITA margin(1) 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%
--- ---
(1)Alternative Performance Measures (APMs).
(2)EBITA 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.
(3)EPS full-year 2019 excluding impairment of intangible assets of SEK 18 M related to restructuring in Q2.
4At current exchange rates
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.
About Sobi(TM)
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.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
https://mb.cision.com/Main/14266/3033895/1192758.pdf Sobi Q4 and FY
2019 report
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SOURCE Swedish Orphan Biovitrum AB
