Sobi posts strong 1st-qtr sales and earnings growth

29 April 2020

Swedish Orphan Biovitrum (STO: SOBI), the Nordic biotech company known as Sobi, today announced its results for the first quarter 2020 showing strong growth, but still seeing the company’s shares down nearly 3.5% at 185.60 Swedish kronor by close of trading.

Revenue growth for the quarter was 42% to 4,639 million Swedish kronor ($461 million). Earnings before interest, taxes and amortization (EBIT) was 2,173 million kronor, an increase of 44%, and resulting in an EBITA margin of 47% for the quarter. Earnings per share were 4.02 kronor, compared with 3.24 kroner in the like 2019 quarter.

Outlook for full-year 2020 unchanged

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