Nycomed interim results – first half 2006

17.08.2006The financial results reported in this press release are related to Nycomed A/S, which, through its subsidiaries and affiliates, comprises all of the Nycomed Group’s operations. A full report is available under www.nycomed.com | investors | financials. Conference call today at 4:00 PM (CET). See more details below.

Highlights

In the first six months of 2006, Nycomed’s net turnover reached € 423.1 million, representing a growth of 16.7% compared to the first six months of 2005. The net turnover during the second quarter of 2006 increased by € 30.2 million to € 213.9 million, representing a growth of 16.4% compared to the second quarter of 2005.

Growth in net turnover, excluding the impact from foreign currency fluctuations, reached 15,3% in the first six months of 2006 compared to the same period of 2005. During the second quarter of 2006 net turnover, excluding impact from foreign currency fluctuations, increased by 16,7% compared to the second quarter of 2005.

During the first six month of 2006, growth in Russia-CIS continued to accelerate, increasing net turnover by 65.7% to € 109.5 million. For Russia-CIS, growth in net turnover, excluding the impact from foreign currency fluctuations, was 57,5% compared to the same period last year.

Operations has performed very well reducing cost of goods sold, mainly due to improved yield and increased volume for some of our key products.

In the first six month of 2006, adjusted EBITDA (see below) increased by 17.1% to € 86.8 million from € 74.1 million in the same period last year. Excluding the impact from foreign currency fluctuations, adjusted EBITDA increased by 13,1% compared to the same period last year.

Adjusted EBITDA for the second quarter of 2006 increased by 15.5% compared to the same period in 2005. Excluding the impact from foreign currency fluctuations, adjusted EBITDA increased by 15,0% compared to the same period last year.


CEO statement

Håkan Björklund, Nycomed CEO said:

“Despite tightening market conditions and continued focus on reducing public expenses on medicine, most of our established European home markets showed growth rates above market in the first six months of 2006.
In general, there was strong growth in our more recently established markets, and Russia-CIS continued to perform extremely well with no signs that the situation will change over the coming months.

We have continued to demonstrate our value as a serious European development partner for the biotechnology industry. This was underlined by the positive results of the ACUITY clinical trial on our cardiology product Angiox® and the achievement of a European marketing authorisation for our new osteoporosis treatment Preotact®.

Based on the development during the first six months of 2006, with a positive development in most of our markets and a continued strong growth in Russia-CIS, we expect to experience a low double digit growth in both net turnover and EBITDA for 2006.”


Financial background

Adjusted EBITDA and EBITDA are key figures used in order to have a more comprehensive analysis of our operating performance and of our ability to service our debt.

Adjusted EBITDA means net earnings before net financial items, income taxes, depreciation of tangible assets and amortization of intangible assets, adjusted for certain unusual or non-recurring items.


Conference call details

Nycomed will host a conference call today 17 August 2006 at 4:00 PM (CET). To access, participants should dial one of the following phone numbers:

+353 1 439 0435
+44 207 769 6435
+45 70 25 21 00

The conference call will be digitally recorded and transcribed. All participants who dial in will be requested to give their full name and company name. You request operator assistance by pressing [*0] on a touch-tone phone.

A digital replay will be available approximately one hour after the conference call has ended. It will then be available for one week.

The replay dial in number is +353 1 436 4267 or +44 207 769 6425 and the digital replay security code is 719615 # . During replay, touch [#] to play the instructions.


Financial calendar

Nycomed expects to announce financial results for the third quarter 8 November 2006. Full year results for 2006 are expected to be announced 7 February 2007.

 

About Nycomed

Nycomed is a pharmaceutical company dedicated to meeting needs in Europe. The company provides hospital products throughout the region and general practitioner and pharmacy medicines in selected markets.

New products are sourced through licensing agreements with research companies. Here Nycomed provides late-stage clinical development, registration and marketing.

Headquartered in Roskilde, Denmark, the company employs about 3,500 people throughout Europe and Russia-CIS. Nycomed is privately owned and had a 2005 revenue of € 747.5 million.

For more information visit www.nycomed.com


For further information

Håkan Björklund, CEO
Phone +45 46 77 11 11

Runar Bjørklund, CFO
Phone +45 46 77 11 11

Christoffer Jensen, VP Communications
Phone +45 46 77 11 12
Mobile +45 22 43 69 44

 

For further information

Media:
General phone:

+41 44 555 15 10
Beatrix Benz,

phone: +41 44 555 1508
Tobias Cottmann,

phone: +41 44 555 1501

Investors:
Christian B. Seidelin,

phone: +41 44 555 11 04

Related information


English PDF
Danish PDF

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