Novo Nordisk's sales rocket in 2022

1 February 2023

Danish diabetes care giant Novo Nordisk (NOV: N) today reported that sales for full-year 2022 increased by 26% in Danish kroner and by 16% at constant exchange rates to 177.0 billion kroner ($25.6 billion) in 2022, slightly ahead of analysts’ expectations of 176 billion kroner.

Net profit rose 16% as reported to 55.5 billion kroner, compared to analysts’ expectations of 55.13 billion, according to a survey by Factset. Operating profit increased 28% to 74.8 billion kroner and diluted earnings per share were up 18% at 24.44 kroner.

For the 2023 outlook, Novo Nordisk says both sales and operating profit growth are expected to be 13%-19% at constant exchange rates (CER). Sales and operating profit growth reported in Danish kroner are expected to be 4 and 5 percentage points lower than at CER, respectively.

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