H. Lundbeck A — Earnings Release 2017

Feb 7, 2018

Valby, Denmark, 2018-02-07 07:48 CET (GLOBE NEWSWIRE) --

HIGHLIGHTS

-- Revenue reached DKK 17,234 million in 2017 representing an increase of 10%
(12% in local currencies) compared to 2016
-- Revenue of Abilify Maintena® increased by 19% to DKK 1,331 million (21%
in local currencies)
-- Revenue of Brintellix®/Trintellix® increased by 50% to DKK 1,662 million
(52% in local currencies)
-- Revenue of Northera® increased by 51% to DKK 1,644 million (55% in local
currency)
-- Revenue of Onfi® increased by 25% to DKK 3,022 million (28% in local
currency)
-- Revenue of Rexulti® increased by 51% to DKK 1,247 million (54% in local
currencies)
-- Revenue in North America increased by 17% to DKK 10,672 million (19% in
local currencies)
-- Revenue in International Markets increased by 2% to DKK 3,345 million
(5% in local currencies)
-- Revenue in Europe decreased by 3% to DKK 2,818 million (4% decline in
local currencies)
-- EBIT improved significantly reaching DKK 4,408 million from DKK 2,292
million in 2016. EBIT for 2017 includes the gain of DKK 242 million from
the divestment of properties which is recognized as Other operating income.
Adjusted for this gain the EBIT margin reached 24.2% compared to an EBIT
margin of 14.7% in 2016
-- EPS grew 117% in the period to DKK 13.28 compared to DKK 6.12 the year
before
-- Free cash flow reached DKK 2,215 million and the net cash position improved
to DKK 3,677 million compared to DKK 326 million at the end of 2016
-- For 2018, Lundbeck expects revenue to reach DKK 17.2-18.0 billion and EBIT
to reach DKK 4.8-5.2 billion
-- The Board of Directors proposes to pay a dividend of DKK 8.00 per share,
corresponding to a pay-out ratio of 61%

In connection with the financial report, Lundbeck’s CFO and interim CEO, Anders
Götzsche said:

“2017 has been a successful financial year for Lundbeck as we grew the business
and increased Lundbeck’s profitability significantly. Going forward we will
continue to focus on profitability, while at the same time focus on
strengthening our pipeline to create long-term, sustainable and profitable
growth.”

DKK million FY 2017 FY 2016 Growth

---

Reported Revenue 17,234 15,634 10%
Reported EBIT 4,408 2,292 92%
Reported EPS 13.28 6.12 117%
Reported EBIT margin 25.6% 14.7% -

Core Revenue 17,234 15,634 10%
Core EBIT 5,115 3,477 47%
Core EPS 16.50 11.09 49%
Core EBIT margin 29.7% 22.2% -

   *For definition of the measures “Core Revenue”, “Core EBIT” and “Core

EPS”, see note 3 Core reporting