Novo Nordisk posts strong sales and profit growth for 2023

31 January 2024

Danish diabetes care giant Novo Nordisk (NOV: N) this morning released financial results for full year 2023, showing that sales increased by 31% in kroner and by 36% at constant exchange rates to 232.3 billion kroner ($33.9 billion) in 2023

Operating profit increased by 37% in kroner and by 44% at constant exchange rates (CER) to 102.6 billion kroner. Diluted earnings per share were up 52% at 18.62 kroner. Diluted earnings per share were up 52% at 18.62 kroner.

The strong showing was largely expected, though still above consensus forecasts, but the company’s still shares rose as much as 4% in early trading, raising its market capitalization to over $500 billion, up from $422 billion ahead of Wednesday’s market open.

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