Strong 1st-half 2020 sales and earnings for UCB

Belgium’s largest drugmaker UCB (Euronext Brussels: UCB) today posted first six months of 2020 financial results, showing that revenue increased to 2.6 billion euros ($3.02 billion) and net sales to 2.5 billion euros, both +12%, +9% at constant exchange rates (CER) or +10% at CER and adjusted for divestitures, respectively.

Underlying profitability, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached 783 million euros (+8%; +0% CER) reflecting continued top-line growth and the investments into the future of UCB, namely into product launches and product development.

Driven by other expenses, profit of the group was to 388 million euros of which 363 million (-12%; -6%% CER) were attributable to UCB shareholders. Core earnings per share (EPS) were up 14.5% at 2.77 euros. Gross profit increased 8% to 1,925 million euros in-line with top-line growth and reflecting a stable gross margin of 74%.