Copenhagen, 2012-05-10 10:22 CEST (GLOBE NEWSWIRE) --
Correction in Financial highlights and key ratios on page 2. Operating profit (EBIT) for the period (3M 2012) has been corrected to DKK 71 million from DKK 66 million.
Performance for the period (unaudited)
(Comparative figures for the same period of last year are shown in brackets / sales growth is measured in local currencies)
Revenue and earnings in the first quarter were as expected and in line with the full year outlook. When comparing with figures for the same period of last year it should be noted that revenue and earnings in Q1 2011 were particularly affected by an extraordinarily high level of income of DKK 134 million from partners (DKK 31 million in Q1 2012) and an inlicensed adrenaline pen which is currently being replaced by sales of ALK’s own brand Jext®.
- Revenue ended at DKK 607 million (743).
- Vaccine sales grew by 3%.
- Performance was especially driven by positive developments in SLIT and AIT sales in France and by SCIT and AIT sales in Central and Northern Europe, respectively.
- ALK continued to gain market shares in several important markets.
- Operating profit (EBITDA) was DKK 102 million (242).
- Net profit was DKK 40 million (127).
- Free cash flow was an outflow of DKK 5 million (an inflow of 270), and cash and cash equivalents stood at DKK 713 million.
ALK's business activities have continued to progress in 2012:
- A new improved SLIT product called SLIToneULTRA® has now been introduced in the first European markets.
- ALK’s production facilities in France will be expanded to support an increasing demand in France.
- More than 1,700 patients have successfully been recruited for two pivotal Phase III clinical trials with MITIZAX®.
- Merck (known as MSD outside the USA and Canada) presented new data from two pivotal Phase III clinical trials with the ragweed allergy immunotherapy tablet (AIT) at the American Academy of Allergy, Asthma & Immunology in the USA.
- Torii completed a Phase I trial with MITIZAX® in Japan and is currently in dialogue with the authorities on the plans for the late-stage clinical development.
Unchanged outlook for 2012
For the 2012 financial year, ALK expects growth in vaccines sales of 3-5% and total revenue of up to DKK 2.4 billion. Despite a record-high activity level within R&D, ALK expects operating profit before depreciation and amortisation (EBITDA) to exceed DKK 300 million.
Hørsholm, 10 May 2012
ALK-Abelló A/S
Contact:
Jens Bager, President and CEO, tel +45 4574 7576
Investor Relations: Per Plotnikof, mobile +45 2261 2525
Press: Martin Barlebo, tel. +45 4574 7901, mobile +45 2064 1143
ALK is holding a conference call for analysts and investors today at 2.00 p.m. (CET) at which Jens Bager, President and CEO, and Flemming Pedersen, CFO, will review the results. Participants in the conference call are kindly requested to call in before 1.55 p.m. (CET). Danish participants should call in on tel. +45 7014 0453 and international participants should call in on tel. +44 207 108 63 03. The conference call will also be webcast on our website, www.alk-abello.com/investor, where the related presentation will be available shortly before the conference call begins.