Sharp earnings and sales growth reported by Lundbeck

Danish CNS specialist Lundbeck (LUND: CO) today released financials, showing that revenue increased by 10% (+9% constant exchange; CER) to 14,934 million kroner ($2,148.8 million) in the first nine months of 2023, driven mainly by growth in the USA and Europe.

In the USA, sales for the nine months came in at 7,317 million kroner (+11%; +13% CER). In Europe, the figure was 3,454 million kroner (+10%; +11% CER), while in International Markets revenues were 3,926 million kroner (-2%; +3% CER).

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 4,859 million euros (+31%; +20% CER) and adjusted EBITDA margin reached 32.5% equivalent to an increase of 5.2 percentage points. Adjusted earnings per share (EPS) reached 3.65 equivalent to an increase of 27%.