Sobi Q1 2024 report: Strong sales reflecting the strength of the portfolio

Swedish Orphan Biovitrum AB (publ) (Sobi®) today announced its report for the first quarter 2024

First Quarter 2024

•          Total revenue increased 19 per cent, 20 per cent at constant exchange rates, (CER)1, to SEK 6,256 M (5,239)

•         Haematology revenue increased 46 per cent at CER to SEK 4,075 M (2,815), reflecting growth in all medicines, mainly driven by strong sales of Doptelet® of SEK 756 M (475), sales of Vonjo® of SEK 320 M (—), and sales of Aspaveli®/Empaveli® of SEK 240 M (95)

•         Immunology revenue decreased 11 per cent at CER to SEK 1,908 M (2,151), mainly reflecting a significant drop in Synagis® sales to SEK 520 M (1,398), partly compensated by strong sales of Gamifant® of SEK 438 M (219), and royalty on Beyfortus™ of SEK 318 M (—)

•          Revenue from medicines in the strategic portfolio more than doubled in the quarter, to SEK 2,193 M (794), driving the majority of the growth. The strategic portfolio grew by 177 per cent at CER and helped to further transform the company

•          The adjusted EBITA margin1,2 was 37 per cent (40), excluding items affecting comparability (IAC)2. EBITA was SEK 2,177 M (2,121), corresponding to a margin of 35 per cent (40). EBIT was SEK 1,313 M (1,495)

•          Earnings per share (EPS) before dilution was SEK 2.35 (3.44)3. Adjusted EPS before dilution1 was SEK 2.70 (3.44)3. Cash flow from operating activities was SEK 2,256 M (1,983)

 

Outlook 2024 - unchanged

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

•          The adjusted EBITA margin is anticipated to be in the mid-30s percentage of revenue

 

1. Alternative Performance Measures (APMs).

2. Items affecting comparability (IAC).

3. Comparatives have been adjusted to consider the bonus issue element in the rights issue carried out in 2023.

The strategic portfolio includes Sobi's medicines Aspaveli/Empaveli, Doptelet excluding China, Gamifant, Vonjo and Zynlonta®, and royalty on Sanofi's sales on Altuviiio™ and Beyfortus.

 

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 the same day at 16:00 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 find the 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 2023, revenue amounted to SEK 22.1 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.

 

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 25 April 2024 at 08:00 CEST.

 

 

Gerard Tobin

Head of Investor Relations