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

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

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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��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

eCMSadmin — Thu, 29 Jul 2021 08:00:00 +0000

��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

Antje Witte, Investor Relations

eCMSadmin Thu 29/07/2021 - 10:00

As the world continues to adapt to the new norm, ��ֳ� continues to adapt, delivering strong performance. Our employees and partners have been extremely agile, responding to the changing environment. ��ֳ� is in a position of confidence – for our late-stage pipeline, for delivery on our ambitious targets and for our ability to lead in five patient populations in 2025.

The first half of 2021 has been another time of strong delivery and growth. I am so proud of how we have kept all our pipeline projects on track, despite the pandemic. All clinical development programs are on track, with six phase 3 studies to readout as planned plus one phase 3 readout, now expected earlier.

We’re excited to be preparing for the launch of our new asset for people living with psoriasis. In June, the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion, recommending granting marketing authorisation. And I’m also pleased to reveal that phase 3 readouts for additional indications for this same asset are on track by year-end, plus the one for hidradenitis suppurativa (HS) due to arrive early.

Also the two phase 3 readouts in myasthenia gravis for two different assets are unchanged expected late 2021 and early 2022.

I have full confidence in our late-stage pipeline and our ability to deliver on our short- and long-term guidance and lead in five patient populations in 2025. Our expectations for 2025 are confirmed: we aim for revenue in 2025 to reach at least € 6 billion and underlying profitability (adjusted EBITDA) to reach the low- to mid-thirties in per cent of revenue.

And, last but not least, I am satisfied of the steps forward in the areas of sustainability critical to our long-term success. Our progress – most predominantly around quality and risk – has been recognised by top sustainability rankings, including ISS ESG, MSCI and Sustainalytics.

Key numbers
The Investor Relations team has worked extremely hard preparing our HY21 financial report while handing over all the know how and tips and tricks from Nathalie to Julien and Alex.
(Plus my two cents :o) ) Nathalie has set her sails to new endavours and I am very thankful for the tremendous contribution she made - professionally and personally. The new IR Team at ��ֳ� is on hand to answer any questions you may have – test us! You might want to ask the financial questions towards Julien, our new Corporate Access and IR Manager – or chat with him about sports and his latest cocktail recipe. Discussing our pipeline and the science behind it gets engaging with Alex, our new Investor Relations Lead – you get a similar engagement when turning the discussion towards cowboys, good food and corresponding drinks. And, yes, you have my number – always happy to chat with you!

I leave you by wishing you a safe and healthy second half of 2021, and with these key figures from the first six months of the year:

Revenue increased to € 2.8 billion (+7%, +11% CER), net sales € 2,651 million (+6%, +11% CER)
Underlying profitability (adjusted EBITDA) was € 843 million (+8%, +16% CER) or 30% of revenue compared to the first six months of 2020
Financial guidance for 2021 is confirmed: Revenue expected to reach € 5.45 – 5.65 billion, adjusted EBITDA 27 - 28% of revenue, Core EPS of € 5.60 – 6.10 expected
Financial guidance for 2025 confirmed as well: Revenue of at least € 6 billion and adj. EBITDA margin in the low to mid-thirties.

investors

Financials financial results 2021 HY financial results 2021 half-year financials

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

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��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

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financial results

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

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������ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance

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

��ֳ� HY2021 financial results: Solid performance despite the pandemic – delivering on our strategy & guidance