H. Lundbeck A — Earnings Release 2015

Feb 10, 2016

Valby, Denmark, 2016-02-10 07:46 CET (GLOBE NEWSWIRE) --

HIGHLIGHTS

-- In 2015, revenue reached DKK 14,594 million representing an increase of 8%
(0% in local currencies). The performance was driven by the key products
(Abilify Maintena®, Brintellix®, Northera®, Onfi®, Rexulti®)
-- US revenue increased 69% (43% in local currency) to DKK 6,353 million
-- Revenue in Europe declined 22% (23% in local currencies) to DKK 3,896
million
-- International Markets declined 8% (11% in local currencies) to DKK 3,827
million
-- Revenue from key products grew 171% (135% in local currencies) to DKK 3,647
million in 2015 representing 25% of total revenue
-- Abilify Maintena sees strong growth reaching DKK 669 million. The growth
of 220% (191% in local currencies) was generated in all regions, but
particularly in Europe
-- Brintellix sales reached DKK 629 million, with non-US markets
contributing DKK 226 million or 36%
-- Northera was launched in Q3 2014 and achieved DKK 475 million in sales
-- Onfi continues its solid performance growing 90% (63% in local
currencies) to DKK 1,757 million
-- Following the launch in the US in August 2015, Rexulti reached DKK 117
million for the year for Lundbeck
-- In the second half of 2015, the underlying EBIT-margin (core-EBIT) reached
6.8% compared to 0.9% in the same period in 2014
-- Lundbeck’s has announced long-term financial targets which consist of an
EBIT-margin of 25%, ROIC of 25% and a cash-to-earnings greater than 90%
-- For 2016, Lundbeck expects revenue of around DKK 13.8-14.2 billion and EBIT
is expected to reach DKK 1.0-1.2 billion
-- The executive management in Lundbeck has been expanded by three members

In connection with the financial report, Lundbeck’s President and CEO, Kåre
Schultz said:

“I am pleased with the progress of our restructuring programme and also with
the sales momentum of our key products which gives me great confidence in the
future of our company in general. For 2016, we expect a return to profitability
and solid cash generation as well as a continued solid sales growth of our key
products”.

DKK million 2015 2014 Growth

Core Revenue 14,464 13,468 7%
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Core EBIT 847 1,228 (31%)
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Core EPS* 1.56 3.20 (51%)
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Core EBIT margin 5.9% 9.1% -
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Reported Revenue 14,594 13,468 8%
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Reported EBIT (6,816) 99 -
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Reported EPS (28.98) (0.78) -
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Reported EBIT margin (46.7%) 0.7% -
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