Lundbeck posts 4th-qtr and full-year 2014 loss, but sees brighter future

5 February 2015

Danish CNS specialist Lundbeck (LUN: CO) reported fourth-quarter 2014 sales of 3.25 billion Danish kroner (495.0 million), down 9% (-12% in local currencies), but beating the 3.12 billion kroner projected by analysts polled by Reuters.

Earnings before interest and taxes amounted to a loss of 838 million kroner, exceeding the 801 million kroner expected by analysts. Fourth-quarter net loss was 633 million kroner compared with a net profit of 23 million kroner in the corresponding quarter of 2013. Lundbeck’s shares dipped 1.58% to 130.70 soon after the results were released.

For the full year 2014, core revenues fell 5% to 13.45 billion kroner, with core EBIT falling 46% to 1.23 billion kroner and core earnings per share of 3.21 kroner, compared with 8.02 kroner for 2013. On a positive noted, sales of new products in 2014 increased 44% to 4.46 billion kroner

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