Sobi publishes Q1 2023 report: Continued solid progress
Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report
for the first quarter of 2023
First quarter 2023
• Total revenue SEK 5,239 M (4,925), +6 per cent, -2 per cent at constant exchange rates (CER).i
• Haematology revenue SEK 2,815 M (2,499), +5 per cent at CER of which Elocta® SEK 1,196 M (1,024), +9 per cent at CER; Alprolix® SEK 514 M (419), +16 per cent at CER; Doptelet® SEK 475 M (593), -28 per cent at CER and Aspaveli®/Empaveli® SEK 95 M (4)
• Immunology revenue SEK 2,151 M (2,119), -9 per cent at CER of which Kineret® SEK 533 M (645), -24 per cent at CER; Synagis® SEK 1,398 M (1,286), -3 per cent at CER and Gamifant® SEK 219 M (189), +5 per cent at CER
• EBITAi SEK 2,121 M (1,290); EBITA margini 40 per cent (26). EBIT SEK 1,495 M (776)
• Earnings per share (EPS) before dilution SEK 3.60 (1.84), EPS adjusted before dilutioni SEK 3.60 (3.67). Cash flow from operating activities SEK 1,983 M (1,644)
• SEL-212 CRG positive phase 3 studies topline data readout
• Efanesoctocog alfa regulatory approval in the US (by Sanofi) and positive XTEND-Kids phase 3 study topline data readout
Significant event after the first quarter
• Nirsevimab economics simplified through a new royalty agreement with Sanofi and the termination of the participation agreement with AstraZeneca
Outlook 2023 – unchanged1
• Revenue is anticipated to grow by a low-to-mid single-digit percentage at CER
• EBITA margin adjusted2 is anticipated to be at a low 30s percentage of revenue
Financial summary
| Q1 | Q1 | FY | ||
| SEK M | 2023 | 2022 | Change | 2022 |
| Total revenue | 5,239 | 4,925 | 6% | 18,790 |
| Gross profit | 4,172 | 3,409 | 22% | 14,014 |
| Gross margini | 80% | 69% | 75% | |
| EBITAi | 2,121 | 1,290 | 64% | 5,930 |
| EBITA adjustedi,ii | 2,121 | 1,951 | 9% | 6,605 |
| EBITA margini | 40% | 26% | 32% | |
| EBITA margin adjustedi,ii | 40% | 40% | 35% | |
| Profit for the period | 1,067 | 543 | 96% | 2,638 |
| EPS, before dilution, SEK | 3.60 | 1.84 | 96% | 8.92 |
| EPS, before dilution, SEK adjustedi,ii | 3.60 | 3.67 | -2% | 10.77 |
|
i. Alternative Performance Measures. |
|
ii. Items affecting comparability (IAC) in 2022. |
1 The outlook excludes Sobi’s right to royalty on net sales of nirsevimab in the US
2 Excluding IAC.
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 14:00 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 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 1,600 employees across Europe, North America, the Middle East, Asia and Australia. In 2022, revenue amounted to SEK 18.8 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com, LinkedIn and YouTube.
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 27 April 2023 at 08:00 CET.
Camilla Sandström
Interim Head of IR, External Communication and Sustainability