Sales of Lundbeck’s strategic brands grow 17% in 2024 1st-qtr

15 May 2024

Danish CNS specialist Lundbeck (LUND: CO) today reported first-quarter 2024 financials, showing that revenues grew 7% at constant exchange rates (CER) and 5% in kroner terms to 5,288 million kroner ($766 million), mainly driven by growth in the USA and Europe, with the news pushing the firm’s share up more than 6% to 38.14 kroner in morning trading.

US revenues were 2,498 million kroner (+9% CER; +7% krone)r, while they were 1,248 million kroner (+9% CER; +6% kroner) in Europe. Sales in international markets: were 1,481 million kroner (+4% CER; -1% kroner). Combined growth for Lundbeck’s strategic brands was 17%, the company noted.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) margin reached 33.0% equivalent to a decrease of 3.6 percentage points. Adjusted earnings per share (EPS) reached 1.38 kroner (+1%). Excluding the effect from quarterly fluctuations in stock valuation, the underlying growth in the adjusted EBITDA was 6% CER, constituting an adjusted EBITDA margin decrease of 0.6 percentage points, said Lundbeck.

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