ALK Alkemy Capital Investments Plc

 
TIDMALK TIDMB 
 

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ALK delivers 11% revenue growth with operating profit up 120% in Q2 (unaudited)

ALK's revenue grew by 11% in Q2 2023, driven by 17% growth in tablet sales and double-digit growth in combined SCIT/SLIT-drops sales. Operating profit (EBIT) increased by 120% in local currencies on sales growth and gross margin improvements.

Q2 2023 financial highlights

Comparative figures for Q2 2022 are shown in brackets. Revenue growth rates are stated in local currencies, unless otherwise indicated

   -- Revenue increased by 11% to DKK 1,135 million (1,045), equalling 12% 
      growth when disregarding the one-year mandatory rebate increase in 
      Germany. Currencies lowered reported growth by 2 percentage points. 
 
   -- Revenue increased by 64% in International markets, by 10% in North 
      America, and by 2% in Europe. 
 
   -- Tablet sales increased by 17% to DKK 547 million (480), with an increase 
      of 97% in International markets (mainly driven by product shipments to 
      Japan), and 20% in North America. As expected, growth in tablet sales in 
      Europe was flat. 
 
   -- Global SCIT and SLIT-drops sales increased by 13% to DKK 423 million 
      (380) driven by Europe and China, while sales of Other products and 
      services decreased by 8% to DKK 165 million (185) on declining Jext(R) 
      sales. 
 
   -- Q2 operating profit (EBIT) increased by 120% in local currencies, which 
      equates to 98% in reported currency, on sales growth and gross margin 
      improvements, which were partly offset by a minor increase in capacity 
      costs. EBIT was DKK 97 million (49) with an EBIT-margin of 9% (5), 
      resulting in a 14% (12) EBIT-margin for the first half year. 

Financial performance for the first six months (H1) 2023

 
 
 
                H1     H1         Growth            Growth 
 In DKKm       2023   2022   (local currencies)   (reported) 
Revenue       2,369  2,200                   9%           8% 
------------  -----  -----  -------------------  ----------- 
EBIT            325    264                  33%          23% 
------------  -----  -----  -------------------  ----------- 
EBIT 
 margin - %     14%    12% 
 

Progress on strategic priorities

   -- Based on the strong results from the paediatric MT-12 Phase 3 trial, ALK 
      has started preparing a registration application for authorities in 
      Europe and North America to expand the indications for the house dust 
      mite (HDM) tablet to include children aged five to 11. The MT-12 trial 
      met its primary endpoint and all key secondary endpoints. 
 
   -- Top-line results from the TT-06 paediatric Phase 3 trial with the tree 
      tablet are still expected in Q4 2023. 
 
   -- First readouts from the Phase 1 trial of tablet treatment for peanut 
      allergy are still expected end-2023. 
 
   -- The regulatory review of the Biologics Licence Application for ALK's HDM 
      tablet in China is ongoing and is still expected to complete in 2024. 
 
   -- The government in Japan, one of the world's largest allergy immunotherapy 
      tablet markets, has launched a comprehensive action plan to further 
      combat respiratory allergy. ALK and its partner Torii are currently 
      assessing how to best support the government's plan. 

2023 revenue outlook is narrowed; earnings outlook remains unchanged

The full-year revenue outlook has been narrowed to mainly reflect the year-to-date progress and intermittent supply shortages affecting Jext(R) . The full-year earnings outlook is unchanged:

   -- Revenue is now expected to grow by 8-10% organically in local currencies 
      (previously: 7-11%), which is equivalent to 9-11% growth, disregarding 
      the one-year temporary mandatory rebate increase for prescription drugs 
      in Germany. 
 
   -- Tablets sales and SCIT/SLIT-drops sales are still expected to grow by 
      double digits respectively in the second half of the year. Full-year 
      tablet growth is still expected within the previously communicated range. 
 
   -- Earnings margin (EBIT margin) is still expected to increase from 10% in 
      2022 to 13-15% on sales growth, efficiencies, economies of scale and 
      lower R&D costs. 

Hørsholm, 24 August 2023

ALK-Abelló A/S

For further information, contact:

Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525

Media: Maiken Riise Andersen, tel. +45 5054 1434

Today, ALK is hosting a conference call for analysts and investors at 1.30 p.m. (CEST) at which Management will review the financial results and the outlook. The conference call will be audio cast on https://www.globenewswire.com/Tracker?data=FUA8aCQAnxRZTY8DyDJIqfU8LIc9Kir4IrLDjPKg0WzZbygp1k9jNgl2h2xJWF2Ta99YS-qa-MMSUUR1-MBieA== https://ir.alk.net where the relevant presentation will be available shortly before the call begins. Please call in before 1.25 p.m. (CEST). Danish participants should call in on tel. +45 7877 4197 and international participants should call in on tel. +44 0 808 101 1183 or +1 785 424 1102. Please use the Participant Pin Code: 55214#

Vedhæftet fil

   -- FM_13_23UK_24082023 
      https://ml-eu.globenewswire.com/Resource/Download/9af7ee28-048b-4899-bed9-1b5ea033aa02 
 
 
 

(END) Dow Jones Newswires

August 24, 2023 01:30 ET (05:30 GMT)

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