Sobi publishes its Report for the Third Quarter 2015
(Thomson Reuters ONE) -
Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the
third quarter 2015. Revenues for the quarter totalled SEK 786 M (666), an
increase of 18 per cent year-on year. The product revenue grew 21 per cent with
Orfadin® and Kineret® delivering strong performance.
Business Summary Q3 2015
* Received positive opinion from CHMP for Elocta® for the treatment of
Haemophilia A
* Exercised opt-in right for Alprolix®
* Received Australian regulatory approval for Kineret for use in Systemic
Juvenile Idiopathic Arthritis
* FDA validated Orfadin oral suspension filing
Financial Summary Q3 2015 (Q3 2014)
* Total revenue was SEK 786 M (666), an increase of 18 per cent (8 per cent at
constant exchange rates)
* Product revenue was SEK 645 M (532), an increase of 21 per cent (10 per cent
at constant exchange rates)
* Gross margin was 62 per cent (59)
* EBITA was SEK 97 M (120)
* Ended the quarter with a cash position of SEK 914 M
"The third quarter results support the themes from the first half year with
solid momentum across the commercial portfolio and achievement of significant
additional milestones for our extended half-life Haemophilia franchise." said
Geoffrey McDonough, CEO and President. "Total revenues in the third quarter were
SEK 786 M, an increase of 18 per cent - 8 per cent at constant exchange rates -
over the prior year. Gross margin was in line with our expectations, and cash
flow increased significantly compared to the same period last year."
Outlook 2015 - EBITA range revised
Sobi expects total revenues for the full year to be in the range of SEK 3,000 to
3,200 M, and gross margin to be in the range of 59 to 61 per cent. Operating
costs are projected to increase as the company continues to prepare for the
planned launch of Elocta.
Based on the results for the first three quarters Sobi now expects EBITA for the
full year to be in the range of SEK 350-400 M (previously SEK 325-400 M).
The outlook for 2015 excludes revenue from the potential European launch of
Elocta.
Financial Summary
Q3 Q3 Jan-Sep Jan-Sep Full year
Amounts in SEK M 2015 2014 Change 2015 2014 Change 2014
-------------------------------------------------------------------------------
Total revenues 786 666 18% 2,414 1,902 27% 2,607
Gross profit 486 395 23% 1,486 1,121 33% 1,548
Gross margin 62% 59% 62% 59% 59%
EBITA(1) 97 120 -19% 343 -82 >100% -43
EBITA excluding 97 120 -19% 343 243 41% 307
write-offs
EBIT (Operating 25 50 -50% 129 -292 >100% -325
profit/loss)
Profit/loss for the 5 53 -90% 77 -250 >100% -268
period
-------------------------------------------------------------------------------
(1 )Jan-Sep 2014 includes write-offs relating to
Kiobrina® of SEK 325 M in Q1.
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About Sobi
Sobi is an international specialty healthcare company dedicated to rare
diseases. Our mission is to develop and deliver innovative therapies and
services to improve the lives of patients. The product portfolio is primarily
focused on Haemophilia, Inflammation and Genetic diseases. We also market a
portfolio of specialty and rare disease products for partner companies across
Europe, the Middle East, North Africa and Russia. Sobi is a pioneer in
biotechnology with world-class capabilities in protein biochemistry and
biologics manufacturing. In 2014, Sobi had total revenues of SEK 2.6 billion
(USD 380 M) and about 600 employees. The share (STO: SOBI) is listed on NASDAQ
OMX Stockholm. More information is available at www.sobi.com.
For more information please contact
Media relations Investor relations
Oskar Bosson, Head of Jörgen Winroth, Vice President, Head of Investor
Communications Relations
T: +46 70 410 71 80 T: +1 347-224-0819, +1 212-579-0506, +46 8 697 2135
oskar.bosson(at)sobi.com jorgen.winroth(at)sobi.com
Sobi Q3 Report 2015:
http://hugin.info/134557/R/1961107/715636.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via GlobeNewswire
[HUG#1961107]
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Datum: 29.10.2015 - 08:01 Uhr
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