ALK Abello rises on reporting best-ever 2nd-qtr

Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) saw its shares rise 8.7% to 153.80 kroner by mid-morning today, as it reported strong financial results for the second quarter of 2022.

Total revenue was up 17% in local currencies to 1,045 million Danish kroner ($143 million). Currencies had a positive effect of 3 percentage points, resulting in reported growth of 20%. Revenue for the first six months was up 14% in local currencies (16% reported growth) with tablet sales growth of 21%.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 123% in reported currency to 107 million kroner, on strong sales growth and improved gross margin, while R&D and sales and marketing expenses were largely as planned. EBITDA for the first six months was up 38% at 379 million kroner.