STOCKHOLM, April 28, 2022 /PRNewswire/ -- Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the first quarter of 2022
January ? March 2022
Total revenueSEK 4,925 M (3,661), +35 per cent, +24 per cent at constant exchange rates (CER)
Haematology revenue SEK 2,499 M (1,877), +25 per cent at CER of which Elocta® SEK 1,024 M (857), +15 per cent at CER; Alprolix® SEK 419 M (413), -3 per cent at CER; Doptelet® SEK 593 M (180), +197 per cent at CER and Aspaveli®/Empavelitm SEK 4 M (-)
Immunology revenue SEK 2,119 M (1,554), +24 per cent at CER of which Kineret® SEK 645 M (542), +11 per cent at CER; Synagis® SEK 1,286 M (879), +31 per cent at CER and Gamifant® SEK 189 M (133), +27 per cent at CER
EBITA1 SEK 1,290 M (1,484), EBITA margin1 26 per cent (41)
Items affecting comparability2 of SEK -661 M included a provision for expected credit losses in Russia of SEK -157 M. Restructuring comprised contract manufacturing closure of SEK -360 M, site simplification of SEK -72 M and efficiency programmes of SEK -72 M. Excluding these costs, the EBITA adjusted amounted to SEK 1,951 M corresponding to an EBITA margin adjusted1 of 40 per cent (41)
Efficiency programmes will focus resources into core areas, simplify the organisation and adjust the cost base to enable Sobi to continue sustainable growth and margin improvement over time
EBITSEK 776 M (1,034), EBIT adjusted1 SEK 1,437 M (1,034)
Earnings per share (EPS) before dilution SEK 1.84 (2.36), EPS before dilution adjusted SEK 3.67 (2.36)
Cash flow from operating activities SEK 1,644 M (1,699)
Efanesoctocog alfa positive XTEND-1 phase 3 study readout, Gamifant approval in China and other encouraging pipeline milestones 2022 outlook
Revenue is anticipated to grow by a mid to high single-digit percentage at CER (unchanged)
EBITA margin is anticipated to be at a low 30s percentage of revenue (now based on EBITA margin adjusted)
Financial summary
Q1
Q1
Full-year
Full-year
Full-year
SEK M
2022
2021
Change
2021
2020
Change
2020
Total revenue
4,925
3,661
35%
15,529
15,261
2%
15,261
Gross profit
3,409
2,935
16%
12,045
12,036
0%
12,036
Gross margin1
69%
80%
78%
79%
79%
EBITA1
1,290
1,484
-13%
5,575
6,700
-17%
6,700
EBITA adjusted1,2
1,951
1,484
31%
5,575
7,099
-21%
7,099
EBITA margin1
26%
41%
36%
44%
44%
EBITA margin adjusted1,2
40%
41%
36%
47%
47%
Profit for the period
543
696
-22%
2,679
3,245
-17%
3,245
EPS, before dilution, SEK1
1.84
2.36
-22%
9.08
11.01
-18%
11.01
EPS, before dilution, SEK adjusted1,2
3.67
2.36
55%
9.08
9.66
-6%
9.66
1Alternative Performance Measures (APMs).
2Items affecting comparability in Q1 2022.
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 at 13:00 CEST.
The presentation can be followed live here or afterwards on sobi.com. The slides will be made available on sobi.com prior to the conference call.
To participate in the conference call, please call:
Sobi is a specialised international biopharmaceutical company transforming the lives of people with rare diseases. Providing sustainable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,600 employees across Europe, North America, the Middle East and Asia. In 2021, revenue amounted to SEK 15.5 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com, LinkedIn and YouTube.
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, at 08:00 CEST on 28 April 2022.
Contacts
For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.
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