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Sobi publishes Q1 2022 report

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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 revenue SEK 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®/Empaveli™ 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

  • EBIT SEK 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:

Sweden: +46 8 505 583 74 (direct)
UK: +44 3333 009 271 (direct)
US: +1 631 913 1422 (toll) PIN: 27168016#

Sobi®

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.

Thomas Kudsk Larsen

Head of Communication and Investor Relations

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/swedish-orphan-biovitrum-ab/r/sobi-publishes-q1-2022-report,c3554965

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