Sobi publishes Q4 2023 report: Strong revenue performance and growth into 2024

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Feb 08, 2024, 04:28 ET

STOCKHOLM, Feb. 8, 2024 /PRNewswire/ -- Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the fourth quarter 2023.

Fourth Quarter 2023

Total revenue increased 14 per cent, 15 per cent at constant exchange rates, (CER), to SEK 6,844 M (5,991)
Haematology revenue increased 21 per cent at CER to SEK 3,640 M (3,025), driven by sales of Vonjo^® of SEK 322 M, strong sales of SEK 1,323 M for Elocta^®, growth for Doptelet^® excluding China of 59 per cent at CER and sales of Aspaveli^®/Empaveli^® of SEK 186 M
Immunology revenue increased 10 per cent at CER to SEK 2,905 M (2,643), driven by Gamifant^® growth of 107 per cent at CER and royalties on Beyfortus™ (nirsevimab) of SEK 890 M
The adjusted EBITA margin was 38 per cent (41), excluding items affecting comparability (IAC). EBITA was SEK 2,502 M (2,455), corresponding to a margin of 37 per cent (41). EBIT was SEK 1,610 M (1,916)
Earnings per share (EPS) before dilution was SEK 3.02 (4.47). EPS adjusted before dilution was SEK 3.21 (4.47). Cash flow from operating activities was SEK 1,073 M (1,893)
After the end of the quarter, on January 5, 2024, Board member Annette Clancy assumed the role of Chair of the Board with immediate effect as Bo Jesper Hansen resigned at his own request and with immediate effect due to health reasons.

Full Year 2023

Total revenue increased 18 per cent, 12 per cent at CER to SEK 22,123 M (18,790). Growth was driven by Haematology 17 per cent at CER and Immunology 9 per cent at CER
Adjusted EBITA margin was 34 per cent (35), excluding IAC

Outlook 2024

Revenue is anticipated to grow by a high single-digit percentage at CER
EBITA margin adjusted is anticipated to be in the mid-30s percentage of revenue

"Sobi's strategic portfolio grew strongly during the quarter and accounted for 40 per cent of revenue, underpinning our commitment to deliver new innovative medicines to people with rare diseases." - Guido Oelkers, President & CEO.

Investors, analysts, and media are invited to participate in a conference call, which will include a presentation of the results and a Q&A session on the same day at 14:00 CET, 13:00 pm GMT, and 8:00 am EDT.

The presentation can be followed live here or afterwards on sobi.com. The slides will be made available on sobi.com before the conference call.

To participate in the conference call, please use the following dial-in details:

Sweden: +46 8 5051 0031

United Kingdom: +44 207 107 06 13

United States: +1 631 570 56 13

For other countries, please get details here

Sobi

Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia and Australia. In 2022, revenue amounted to SEK 22.1 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.

Contacts

For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.

This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 08 February 2024 at 8:00 CET.

Gerard Tobin, Head of Investor Relations

The following files are available for download:

https://mb.cision.com/Main/14266/3924289/2590673.pdf

Q4 and FY 2023 report. Strong revenue performance and growth into 2024