To: The Copenhagen Stock Exchange
Translation Announcement no. 10 • 2007
May 22, 2007
Three-month interim report (Q1) 2007:
(unaudited)
Financial performance in the three months ended March 31, 2007
(Comparative figures for the same period last year are shown in brackets)
- Revenue increased to DKK 450 million (395).
- Organic growth in sales of allergy vaccines was 17%.
- As expected, sales of GRAZAX® amounted to DKK 10 million.
- Operating profit (EBIT) was DKK 240 million (57) and included an up-front
payment from the company's US partner Schering-Plough.
- Profit before tax (EBT) was DKK 242 million (61).
- Profit for the period, DKK 202 million, was affected by extraordinary income
of DKK 37 million.
Highlights of the period
The alliance between Schering-Plough and ALK-Abelló, which was signed on
January 3, was approved by the US competition authorities in February. In that
connection, ALK-Abelló received an up-front payment of DKK 199 million from
Schering-Plough. Schering-Plough has informed ALK-Abelló that they will
continue the further pharmaceutical development of the tablet-based allergy
vaccine against ragweed allergy.
Since the turn of the year, GRAZAX® has been launched in Austria, Denmark,
Ireland, Norway, the United Kingdom and Sweden at prices corresponding to the
price level achieved in Germany, the first country in which the product was
launched.
Outlook for the 2007 financial year
For the financial year 2007, ALK-Abelló retains its forecast of revenue,
including revenue from sales of GRAZAX®, of DKK 1,650-1,700 million (1,519).
The organic growth rate in sales of allergy vaccines is expected to be 15-19%.
EBIT will be affected by substantial sales and marketing costs for GRAZAX® and
the start-up of the company's two partnership agreements. The forecast of
operating profit (EBIT) is retained at DKK 200-220 million and includes revenue
from Schering-Plough of DKK 199 million. The forecast of pre-tax profit (EBT)
remains unchanged at DKK 230-250 million and profit after tax is forecast at
DKK 130-150 million. The net profit for the year is affected by an
extraordinary income of DKK 37 million and is therefore forecast at DKK 167-187
million.
Contact:
Jens Bager, President and CEO, tel +45 4574 7445.
ALK-Abelló holds a conference call for analysts and investors today at 12.30
a.m. (CET) at which Jens Bager, President and CEO, will review the results.
Danish participants must call in on tel +45 7026 5040 before 12.25 p.m. (CET),
and international participants must call in on tel +44 208 817 9301 before
12.25 p.m. (CET). The conference call will also be webcast on our website:
www.alk-abello.com, where the related presentation will be available shortly
before the conference call begins.
