Strong 1st-qtr results from ALK Abello
Danish allergy immunotherapy specialist ALK-Abello (ALKB: DC) recorded high double-digit growth in Europe and North America in the first-quarter of 2016.
Total revenue, including partner income, grew organically by 31% in local currencies to 848 million Danish kroner for the reporting period. ALK’s shares moved 5.85% higher to1,122.00 kroner following the results release today.
Operating profit was 277 million kroner, up 116%, and the earnings before interest, taxes, depreciation and amortization (EBITDA) margin was 33% (20% in the like 2015 period). The development was prompted by top-line growth, economies of scale in production and continued disciplined cost control. EBITDA before special items and excluding sales royalties and milestone payments increased 91% to 260 million kroner.
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