ALK Abello upgrades earnings outlook, despite flat 2nd-qtr sales

12 August 2020

Danish allergy immunotherapy specialist ALK Abello (ALKB: DC) reported financials this morning, saying that overall sales in the second-quarter 2020 low-season were in line with expectations given the COVID-19 pandemic, with tablet sales up 25%.

Total revenue at 772 million Danish kroner ($122.3 million) showed zero growth in local currencies. Planned product discontinuations reduced growth by approximately 3 percentage points. Currencies reduced reported growth by 1 pp.

Operating profit, or earnings before interest, taxes, depreciation and amortization (EBITDA), exceeded expectations and grew by 213% to 75 million kroner (from 24 million kroner in the like 2019 period), reflecting savings and delayed R&D expenditure due to COVID-19.

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