ALK Abello 2014 earnings rocket 76%

Denmark-based allergy specialist ALK Abello (ALKB: DC) posted financials this morning, saying it has achieved one of its best-ever results in 2014.

Total 2014 revenue, including partner income, was 2,433 million Danish kroner ($370.9 million), a rise of 8.4%, and in line with the 2.43 billion kroner expectations of analysts polled by Reuters. Earnings before interest, taxes, depreciation and amortization (EBITDA) before special items amounted to 453 million kroner, rocketing 76% compared with 2013,

Revenue and operating profit (EBITDA) in the fourth quarter of 2014 were in line with expectations and ALK met its full-year outlook. Total revenue, including partner income, grew 2% to 612 million kroner, beating the 608 million kroner forecast by analysts polled by Reuters. Revenue in the base business grew 5% to 603 million kroner. Growth was largely driven by sales of SCIT products, Grazaxand Jext, which in total grew 9% to 354 million kroner. EBITDA before special items was 76 million kroner, versus 110 million kroner in the fourth quarter of 2013.