Sobi down as 4th-qtr earnings and sales decline
Shares of Swedish Orphan Biovitrum (STO: SOBI), also known as Sobi, were down more than 8 at 151.20 Swedish kronor by late morning today, after it announced its results for the fourth quarter and full-year 2020.
Revenue for the full-year grew 7% to 15,261 million kronor. Adjusted earnings before interest, taxes and amortization (EBITA) were 6,301 million kronor, up 3% resulting in an adjusted EBITA margin of 41% per cent for the full year.
Sobi's fourth quarter adjusted EBITA fell 9% year-on-year to 2.18 billion kronor, while revenues were 4.58 billion kronor, down 6%, slightly above the 4.49 billion kronor mean forecast of analysts, according to Refinitiv data.
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