Strong first half 2024 start for UCB
Belgium’s largest drugmaker UCB (Euronext: UCB) today released financial results for the first half of 2024, which beat analysts’ expectations.
Revenue in the first half reached € 2.79 billion euros ($3.03 billion), up 8% (+10% at constant exchange rates; CER). Net sales were 2.64 billion euros (+11%; +13% CER).
Underlying profitability, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) reached 652 million euros (-19%; -13% CER1), driven by higher revenue and significantly higher operating expenses due to the strong launch investments and lower other revenue and lower other operating income.
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