Sobi publishes Q3 2023 report: Strong revenue and solid performance

Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the third quarter 2023

 

Third Quarter 2023

•          Total revenue increased 29 per cent, +23 per cent at constant exchange rates, (CER)i, to SEK 5,168 M (3,999)

•         Haematology revenue increased 25 per cent at CER to SEK 3,484 M (2,619), driven by sales of Vonjo® of SEK 347 M, strong sales of SEK 1,245 M for Elocta®, growth for Doptelet® of 15 per cent at CER and the launch of Aspaveli®/Empaveli® of SEK 169 M

•         Immunology revenue increased 27 per cent at CER to SEK 1,400 M (1,070), driven by Gamifant® growth of 112 per cent at CER and the first royalties on Beyfortus™ (nirsevimab) of SEK 263 M

•          The adjusted EBITA margini was 30 per cent, excluding items affecting comparability (IAC)ii. EBITA was SEK 1,443 M (1,241), corresponding to a margin of 28 per cent (31). EBIT was SEK 547 M (699)

•          Earnings per share (EPS) before dilution was SEK 0.30 (1.43)iii. EPS adjusted before dilutioni was SEK 0.54 (1.43)iii. Cash flow from operating activities was SEK 1,058 M (745)

•          The fully subscribed rights issue was completed in September and Sobi received approximately SEK 6,024 M before issue costs. The proceeds were used to fund part of the repayment of the bridge loan taken up in connection with the acquisition of CTI BioPharma

Outlook 2023 - unchanged

•          Revenue is anticipated to grow by a high single-digit percentage at CER

•          EBITA margin adjustedi is anticipated to be at a low 30s percentage of revenue

 

"We are very pleased with Sobi's development during the quarter. Revenues increased for Haematology and Immunology 89 per cent of this was driven by our launch medicines, primarily in the US and internationally. This includes a strong contribution from Vonjo, added through our recent acquisition of CTI BioPharma." - Guido Oelkers, President & CEO

i. Alternative Performance Measures (APMs), see section APM for further information.

ii. Items affecting comparability (IAC).

iii. Comparatives have been adjusted to consider the bonus issue element in the rights issue, for which the final outcome was announced on 19 September.

 

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 30th October at 13:00 pm CET, 12:00 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 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 and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, on 30 October 2023 at 08:00 CEST.

 

Tobias Cottmann

Acting Head of Communications and Investor Relations