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    NOVO B   DK0060534915

NOVO NORDISK A/S

(NOVO B)
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Novo Nordisk A/S : net profit increased by 6% in the first three months of 2021

05/05/2021 | 01:31am EDT

 Financial report for the period 1 January 2021 to 31 March 2021

  • Operating profit decreased by 8% in Danish kroner and increased by 3% at constant exchange rates (CER). 
  • Sales remained unchanged in Danish kroner and increased by 7% at CER to DKK 33.8 billion. Sales in International Operations increased by 2% in Danish kroner (9% at CER), and sales in North America Operations decreased by 3% in Danish kroner (increased 6% at CER). Sales growth is negatively impacted by COVID-19-related stocking in 2020, partially offset by inventory changes and timing of shipments in 2021.
  • Sales within Diabetes and Obesity care increased by 1% in Danish kroner to DKK 28.8 billion (9% at CER), driven by GLP-1 growth of 13% in Danish kroner (23% at CER) reflecting the uptake of Ozempic® and Rybelsus®. Biopharm sales decreased by 6% in Danish kroner (increased by 1% at CER).
  • Within R&D, Novo Nordisk decided to initiate phase 3a development with 50 mg oral semaglutide in obesity. Following the Refusal to File letter in the US covering the label expansion application for once-weekly semaglutide 2.0 mg for the treatment of type 2 diabetes, Novo Nordisk is working towards resubmission in the second quarter of 2021.
  • For the 2021 outlook, sales growth is now expected to be 6-10% at CER, and operating profit growth is now expected to be 5-9% at CER. The ongoing share buyback programme will be expanded to DKK 18 billion.
PROFIT AND LOSSQ1 2021Q1 2020Growth
as reported
Growth
at CER*
DKK million    
Net sales33,804 33,875 0%7%
Operating profit14,982 16,302 (8%)3%
     
Net profit12,623 11,897 6%N/A
Diluted earnings per share (in DKK)5.45 5.05 8%N/A

* CER: Constant exchange rates (average 2020).

Lars Fruergaard Jørgensen, president and CEO: "We are very encouraged with the sales growth in the first three months of 2021. Sales growth was driven by all therapy areas and across geographical areas within International Operations as well as North America Operations where growth has accelerated in the US. We were also pleased to announce plans to develop oral semaglutide as a convenient and effective treatment option for people with obesity, complementing our injectable obesity medications. The solid financial performance in the first three months of 2021 has enabled us to raise our outlook range for the full year."

On 5 May 2021 at 13.00 CEST, corresponding to 7.00 am EDT, an earnings call will be held. Investors will be able to listen in via a link on novonordisk.com, which can be found under ‘Investors’.

About Novo Nordisk

Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 45,800 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit novonordisk.com, Facebook, Twitter, LinkedIn, YouTube.

Financial calendar 
5 August 2021Financial statement for the first six months of 2021
3 November 2021Financial statement for the first nine months of 2021
2 February 2022Financial statement for 2021


Contacts for further information 
Media:  
Mette Kruse Danielsen+45 3079 3883mkd@novonordisk.com
Michael Bachner  (US)+1 609 664 7308mzyb@novonordisk.com
   
Investors:  
Daniel Muusmann Bohsen+45 3075 2175dabo@novonordisk.com
Valdemar Borum Svarrer+45 3079 0301jvls@novonordisk.com
Ann Søndermølle Rendbæk+45 3075 2253arnd@novonordisk.com
Mark Joseph Root+45 3079 4211mjhr@novonordisk.com
Kristoffer Due Berg (US)+1 609 235 2989krdb@novonordisk.com

 Company announcement No 30 / 2021

Attachment

  • PR210505_Q1_2021

© OMX, source GlobeNewswire - EU Press Releases

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Financials
Sales 2021 133 B 21 776 M 21 776 M
Net income 2021 44 366 M 7 245 M 7 245 M
Net cash 2021 7 578 M 1 238 M 1 238 M
P/E ratio 2021 24,9x
Yield 2021 2,03%
Capitalization 1 101 B 180 B 180 B
EV / Sales 2021 8,20x
EV / Sales 2022 7,54x
Nbr of Employees 45 157
Free-Float 69,8%
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Technical analysis trends NOVO NORDISK A/S
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 28
Average target price 468,13 DKK
Last Close Price 478,85 DKK
Spread / Highest target 16,9%
Spread / Average Target -2,24%
Spread / Lowest Target -29,0%
EPS Revisions
Managers and Directors
NameTitle
Lars Fruergaard J°rgensen President & Chief Executive Officer
Karsten Munk Knudsen Chief Financial Officer & Executive Vice President
Helge Lund Chairman
Mads Krogsgaard Thomsen Chief Science Officer & Executive Vice President
Henrik Ehlers Wulff Executive VP & Head-Information Technology
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