ALK Abello delivers 11% revenue growth; operating profit up 120%

25 August 2023

Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) has posted financial results showing that revenue grew by 11% to 1.14 billion kroner ($165 million) in the second quarter of 2023, which was 2% ahead of analysts’ estimates, driven by 17% growth in tablet sales and double-digit growth in combined SCIT/SLIT-drops sales.

The company’s shares edged up2.2% to 79.25 kroner on the news.

Second quarter operating profit (EBIT) increased by 120% in local currencies, which equates to 98% in reported currency, on sales growth and gross margin improvements, which were partly offset by a minor increase in capacity costs. EBIT was 97 million kroner with an EBIT-margin of 9% (5), resulting in a 14% (12) EBIT-margin for the first half year.

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