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ALK upgrades its full-year financial outlook due to accelerated sales
ALK (ALKB:DC / OMX: ALK B / AKABY / AKBLF) today announced that the company has revised its 2018 financial guidance upwards based on an expected strong end to the year which further builds on the momentum established during the first nine months:
- Full-year revenue is now projected to exceed DKK 2.9 billion (previously: DKK 2.85- 2.9 billion) reflecting growth over last year in local currencies. This compares with the original February 2018 outlook of approximately DKK 2.7 billion.
- Operating profit (EBITDA) is now expected at DKK 125-175 million (previously: DKK 50-100 million). This compares with the original February 2018 outlook of approximately minus DKK 50 million.
- Free cash flow is now estimated at approximately minus DKK 400 million (previously: minus DKK 500 million or better). This compares with the original February 2018 outlook of approximately minus DKK 600 million.
Performance in Q4 has so far been better than expected, mainly because of a positive development in Europe. SLIT-tablet sales grow as expected, while sales of SCIT, SLIT-drops and Jext® are exceeding expectations with improved product availability and robustness in product supply enabling ALK to meet increased demand. The increased operating profit (EBITDA) primarily reflects this higher than expected revenue. Free cash flow is primarily impacted by the higher EBITDA.
ALK will publish its Q4 performance in connection with the Annual Report on 7 February 2019.
For further information please contact:
Carsten Hellmann, President & CEO, tel. +45 4574 7576
Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525
Media: Jeppe Ilkjær, tel. +45 7877 4532, mobile +45 3050 2014
This information is information that ALK-Abelló A/S is obliged to make public pursuant to the EU Market Abuse Regulation.
ALK is a global specialty pharmaceutical company focused on allergy and allergic asthma. It markets allergy immunotherapy treatments and other products and services for people with allergy and allergy doctors. Headquartered in Hørsholm, Denmark, ALK employs around 2,300 people worldwide and is listed on Nasdaq Copenhagen. Find more information at www.alk.net.