SOBI posts 40% sales hike and 94% EBITA increase for 2nd-qtr

18 July 2018

Swedish Orphan Biovitrum (STO: SOBI) today announced financial results for the second quarter 2018 that beat analysts’ expectations, sending the company’s share up 14.57% to 236.00 Swedish kronor by late afternoon.

Total revenues grew 40% compared with the like quarter of 2017 (36% at constant exchange rates, CER) and amounted to 2.29 billion kronor ($25.2 million), thus beating analysts’ average forecasts of 2.12 billion kronor

Earnings before interest, taxes and amortization (EBITA) were 951 million kronor, or 2.54 kronor per share, an increase of 94% for the quarter, also beating forecasts of 1.88 kroner, and gross margin amounted to 73%.

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