Sobi Publishes Report for the Fourth Quarter and Full-year 2019

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Feb 13, 2020, 02:18 ET

STOCKHOLM, Feb. 13, 2020 /PRNewswire/ -- 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 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 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 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 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

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 adjusted^1,2

2,380

916

160%

6,145

3,571

72%

EBITA margin¹

47%

36%

42%

39%

EBITA margin adjusted^1,2

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 adjusted^1,2,3

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

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™

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
[email protected]

Linda Holmström, Corporate Communication & Investor Relations
+ 46-708-734-095
[email protected]

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.

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Sobi Q4 and FY 2019 report

SOURCE Swedish Orphan Biovitrum AB