H. Lundbeck A — Earnings Release 2017

Aug 9, 2017

Valby, Denmark, 2017-08-09 06:55 CEST (GLOBE NEWSWIRE) --

HIGHLIGHTS

-- Revenue reached DKK 8,494 million in the first six months of 2017
representing an increase of 13% compared to the same period last year
-- Revenue of Abilify Maintena® increased by 23% to DKK 659 million (24% in
local currencies)
-- Revenue of Brintellix®/Trintellix® increased by 61% to DKK 778 million
(60% in local currencies)
-- Revenue of Northera® increased by 60% to DKK 716 million (59% in local
currency)
-- Revenue of Onfi® increased by 28% to DKK 1,448 million (27% in local
currency)
-- Revenue of Rexulti® increased by 85% to DKK 574 million (84% in local
currencies)
-- Revenue in North America increased by 22% to DKK 5,115 million (21% in
local currencies)
-- Revenue in International Markets increased by 8% to DKK 1,810 million
(9% in local currencies)
-- Revenue in Europe decreased by 1% to DKK 1,433 million (1% decline in
local currencies)
-- EBIT improved significantly reaching DKK 2,061 million from DKK 952 million
in the same period last year and the EBIT margin reached 24.3% compared to
an EBIT margin of 12.7% the year before
-- EPS grew 186% in the period to DKK 6.06 compared to DKK 2.12 in the same
period last year
-- The free cash flow reached DKK 700 million and the net cash position has
improved to DKK 1,052 million compared to net debt of DKK 1,778 million at
the end of the second quarter of 2016
-- The US FDA has approved Abilify Maintena for the maintenance monotherapy of
bipolar I disorder in adults, making it the first once-monthly, long-acting
injectable treatment for this indication. Additionally, Azilect® has been
approved by the CFDA in China for Parkinson’s disease
-- Lundbeck now expects revenue to reach DKK 16.7-17.5 billion and profit from
operations (EBIT) to reach DKK 4.1-4.5 billion for 2017 compared to
previously DKK 16.5-17.3 billion and DKK 3.6-4.0 billion, respectively. The
gain of around DKK 200 million from the divestiture of properties announced
on 5 May 2017 is included in the revised financial guidance and will be
recognized as Other operating income

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

“Lundbeck has shown very strong operational performance in the first half of
the year and we are on track to deliver on our strategy and financial targets.
I feel confident with our R&D pipeline and we are committed to continue to
deliver innovative medicines to patients.”

DKK million H1 2017 H1 2016 Growth

---

Reported Revenue 8,494 7,521 13%
Reported EBIT 2,061 952 117%
Reported EPS 6.06 2.12 186%
Reported EBIT margin 24.3% 12.7% -

Core Revenue 8,494 7,521 13%
Core EBIT 2,500 1,475 69%
Core EPS 8.04 4.33 86%
Core EBIT margin 29.4% 19.6% -

*For definition of the measures “Core Revenue”, “Core EBIT” and “Core EPS”, see
note 9 Core reporting