Lundbeck 2018 sales up 8%, but 2019 guidance lowered

5 February 2019

Danish CNS specialist Lundbeck (LUND: CO) saw its shares down 4.9% at 272.30 Danish kroner in late morning trading, after it reported financial results for 2018, but noting that it will lower dividends to shareholders as it seeks to invest more to make up for declining sales of older drugs.

Revenue reached 18.12 billion kroner ($2.79 billion) in 2018 representing an increase of 5% (8% in local currencies) compared to 2017.

Earnings before interest and taxes (EBIT) increased 20% to 5.30 billion kroner in 2018 compared to 2017 and the EBIT margin reached 29.3% compared to 25.6% the year earlier. Earnings per share (EPS) grew 48% to 19.66 kroner.

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