Lundbeck posts strong 1st-qtr results

10 May 2023

Danish CNS specialist Lundbeck (LUND: CO) edged up 1.3% to 34.27 kroner this morning, after the company released financial results for the first quarter of 2023, showing that sales increased by 15% (+11% at constant exchange rates) to 5,044 million kroner ($855 million), with all regions growing and the USA and Europe contributing strongly.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 1,845 million kroner (+43%; +39% CER) and adjusted EBITDA margin reached 36.6% equivalent to an increase of 7.1 percentage points. Adjusted earnings per share (EPS) reached 1.36 kroner equivalent to an increase of 33%.

The growth of Lundbeck’s strategic brands grew further with an increase of 23% (+19% CER), reaching 3,273 million kroner, representing 65% of total revenue.

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