financials

��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

Vandenbruaene Nathalie — Thu, 28 Jul 2022 06:32:20 +0000

��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

Antje Witte, Investor Relations

Vandenbruaene … Thu 28/07/2022 - 08:32

The ��ֳ� Half Year Report 2022 tells me that we are continuing ��ֳ�’s course as it navigates today’s challenging environment. We are managing generic erosion curves, a launch delay in the U.S. and the inflation in costs, which gives me confidence that we will deliver strong long-term growth and create value for all stakeholders – now and into the future.

If you were to ask me what our focus is, it’s the new product launches that we are currently preparing for. Those are the launches we have planned for new treatment options to serve people living with psoriasis, psoriatic arthritis, across the full spectrum of axial spondyloarthritis and generalized myasthenia gravis.

Our new product for people living with psoriasis received strong regional launches in Europe and the UK late last year and in Japan and Canada earlier this year. I’m excited to see the strong patient growth and the great feedback from people living with psoriasis in the months since. I’m confident we will soon be able to bring it to US patients following our submission of the response to the FDA complete response letter by the end of 2022.

Our ability to bring new products in specific areas to address the unmet needs relies on the performance of our existing business. And the first half of 2022 delivered yet another period of strong delivery and growth. The impacts from the loss of exclusivity of two of our epilepsy products are visible and they will continue to impact our near-term future. On the other hand, our latest acquisition is adding to our growth profile.

With that, I’ve confidence in our ability to deliver on our guidance. Our expectations for 2025 remain unchanged: we expect revenue in 2025 to reach at least € 6 billion and underlying profitability (adjusted EBITDA) to reach the low- to mid-thirties in percent of revenue.

Last but not least, I want to reassure you that we are closely following various macroeconomic factors. We continue, as ever, to evaluate consequences to the business environment diligently and to assess any potential near- and mid-term challenges that may emerge so that we can take action to mitigate the effects.

Wishing you a peaceful summer break and a safe and healthy second half of 2022. And if you would like to chat with me, you can find me at Antje.Witte@ucb.com.

I leave you with these key figures from the first six months of the year:

Revenue increased to € 2.93 billion (+5%, +3 CER) net sales € 2.70 billion (+2%, 0% CER), impacted, as expected, by generic erosion
Underlying profitability (adjusted EBITDA) was € 814 million (-3%, -2% CER) or 28% of revenue, impacted, as expected, by the inclusion of the new acquisition
Financial guidance for 2022 (updated June 24, 2022) confirmed: Revenue expected to reach € 5.3 – 5.4 billion, adjusted EBITDA in the range of 21 – 22% of revenue, Core EPS of € 3.70 – 4.00 expected
Financial guidance for 2025 remains unchanged: Revenue of at least € 6 billion and adj. EBITDA margin in the low to mid-thirties in percent of revenue.

investors

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2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

Vandenbruaene Nathalie — Thu, 24 Feb 2022 10:01:04 +0000

2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

Sandrine Dufour, EVP Chief Financial Officer

Vandenbruaene … Thu 24/02/2022 - 11:01

At ��ֳ�, we want to give people with severe diseases the freedom to live the life they like to live – a life that’s lived as free as possible from the challenge and uncertainty of disease. To achieve this ambition, we aspire to work in a way that puts sustainability as our business approach, generating value for all stakeholders, our employees, the communities around us, the planet and our shareholders. And as our 2021 results show, it’s a business approach that’s paying off.

Today we posted our 2021 full-year results. The results show that in a world that continues to navigate the COVID-19 pandemic, ��ֳ� is consistently delivering strong financial and extra-financial results for all our stakeholders, while living our purpose to make a truly meaningful impact on the lives of those living with severe diseases.

In 2021, we touched on the lives of over 3.7 million patients around the world, connecting the unmet needs of patients with innovative biological research and cutting-edge science. We delivered € 5 777 million in revenue and a 28% EBITDA margin, thanks to current core product growth and extensive efforts to serve new patient populations.

It was a busy year for ��ֳ�. In an unprecedented string of events, six positive Phase 3 study readouts came through from our late-stage pipeline, underlining the robustness of our position and long-term growth prospects. We initiated partnerships ranging from a multi-year strategic collaboration with Microsoft to bring innovative new medicines to life through pairing drug discovery with computational expertise, to partnering with Novartis to co-develop two drug candidates for Parkinson’s Disease. And we announced the planned acquisition of Zogenix to build on our heritage in epilepsy and further our work in developing therapies for rare diseases.

Our sustained financial strength goes hand in hand with our commitment to making a positive impact on society, by driving sustainable growth with solutions that make real improvements to people’s lives. Crucially, we believe that as well as creating value for patients, we need to create value for our employees, our shareholders, and our communities, all while respecting the planet. That’s because ultimately, every company, country and citizen is interconnected – what one of us does impacts the others. There are some good examples of this in the sustainability section to the Integrated Annual Report.

Loss of exclusivity (LOE) is a natural milestone in a drug’s lifecycle, and one we can anticipate and prepare for. The coming months will be marked by long-expected impacts from the loss of exclusivity of two of our anti-epileptic therapies, in Japan, the U.S. and the European Union. Yet ��ֳ� is set to enter an exciting new transition period where we plan for accelerated company growth.

Our new drug to treat people living with moderate to severe plaque psoriasis has recently been approved in the EU, Great Britain, Japan and Canada, with launches underway in numerous European countries. Subject to regulatory approvals, we hope to be able to bring it to people living with psoriasis in the U.S. in the first half of this year.

This drug has the potential to reach even more people – such as those living with axial spondyloarthritis or psoriatic arthritis – and we plan to submit to the regulatory agencies later this year. We’re also already preparing for the launch of two new complementary treatment options for people living with generalized Myasthenia Gravis. Here, we’re seeking regulatory approval with submission planned later this year.

I’m immensely proud of ��ֳ�’s performance in 2021, and what we’re on track to achieve together, which is no small feat. With more than 90 years behind us, our business footprint spans the globe – from our headquarters in Brussels to nearly 40 countries around the globe – and our patient impact stretches further still. And without a doubt, increasing our reach to innovate and differentiate is how we stay true to our purpose, to create value for patients – now and into the future.

investors

2021 Financials 2021 Financial results financials

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Resilient product portfolio drives continued company growth

eCMSadmin — Mon, 27 Jul 2020 09:00:00 +0000

Resilient product portfolio drives continued company growth

Antje Witte, Investor Relations

eCMSadmin Mon 27/07/2020 - 11:00

It has been a turbulent year so far for all of us, with the COVID-19 pandemic presenting unprecedented challenges around the world. We instinctively directed our actions during COVID-19 to support our partners in society. Our colleagues and the patients we serve have been our top priority. We were also concerned about the impact of the pandemic on our communities. We have therefore immediately prioritized assistance to our employees, patients and our communities by:

Ensuring that our employees were safe and supported financially,
Keeping patients at the heart and ensuring availability and access to their ��ֳ� medicines as a priority
Helping our local communities with targeted financial support and in-kind donations, and contribution to scaling up local diagnostic testing capabilities,
Giving extended payment terms to some vendors,
Joining forces on the global response by leveraging our scientific expertise to contribute to research projects worldwide. We are acknowledging the long-term impact of the pandemic and have set up a global fund to understand and address the long-term effect of COVID-19 on vulnerable populations’ health.

There have, of course, been challenges to how we work. Patient recruitment for clinical trials was paused and our homes have become our offices. We all learned a lot about virtual meetings and attended conferences virtually – like the scientific conference the American Academy of Dermatology where we presented in June our phase 3 results of our new, potentially upcoming psoriasis drug.

I am happy to report that in the meanwhile we have restarted clinical study recruitment, including for new studies, at clinical trials sites that meet the restart criteria. You can find the latest timelines for study headline results of our late-stage pipeline on our website – or just ask me.

Financial results
I am pleased to report that ��ֳ� has seen continued company growth for the first half of 2020 and is continuing its strategic growth path. This says a lot about the resilience of our product portfolio. Revenue increased to €2.6 billion and net sales reached €2.5 billion – up 12% (or 9% at constant exchange rates (CER)). Underlying profitability was €783 million (+8%, 0% CER) or a ratio of 30%. And our financial outlook for 2020 is confirmed – it does not reflect any potential future impacts from the evolving COVID-19 pandemic. Of course, we are following these developments diligently to assess the financial significance of this pandemic on ��ֳ�.

Despite the enormous energy invested in adapting to this new environment, we also moved forward with acquisitions that will support our future growth. In April, ��ֳ� closed the acquisition of Ra Pharma, while the company acquired Engage Therapeutics in June and agreed on a co-promotion agreement with Ferring for our Crohn’s disease product in the U.S. in July.

These results illustrate the determination and agility of my almost 8,000 colleagues in reacting positively to probably the biggest test many of us will face in our (working) lives. This has enabled us to continue to meet our commitment to patients while allowing us to support our partners in society during the COVID-19 pandemic.

As ever, I remain available to discuss ��ֳ�’s financial performance, our late stage pipeline and provide further details on our financial outlook for the remainder of 2020. Please stay safe and well.

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��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

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2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments

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Resilient product portfolio drives continued company growth

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������ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

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2021 results show ������ֳ� continues to innovate for better health together – delivering on strategy and commitments

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Resilient product portfolio drives continued company growth

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��ֳ� HY2022 Financial Results: Strong performance, resilience and delivery

2021 results show ��ֳ� continues to innovate for better health together – delivering on strategy and commitments