Financials

Key Facts, Figures, and Highlights of Lundbeck’s Financials

An overview of Lundbeck’s financial performance.

Financial Overview

Income statement (DKKm) 2023 2022 2021  2020 2019
Revenue 19,912 18,246 16,299 17,672 17,036
Research and development costs 3,457 3,754 3,823 4,545 3,116
Operating profit before depreciation and amortization (EBITDA) 5,207 4,663 3,720 4,783 4,823
Profit/(loss) from operations (EBIT) 3,195 2,852 2,010 1,990 3,153
Net financials 202 378 429 84 127
Profit/(loss) before tax 2,993 2,474 1,581 1,906 3,026
Profit/(loss) for the year 2.290 1,916 1,318 1,581 2,313
Assets (DKKm) 2023 2022 2021  2020 2019
Non-current assets
24,118 26,040 26,041 25,924 29,095
Inventories
4,427 4,046 2,775 2,163 2,204
Receivables 3,852 3,818 3,558 4,018 3,822
Cash, bank balances and securities 5,010 3,548 2,279 3,924 3,012
Total assets 37,407 37,452 34,653 36,029 38,133
Equity and liabilities (DKKm) 2023 2022 2021  2020 20191
Equity
22,045 20,779 18,279 16,973 16,782
Non-current liabilities
7,372 8,474 7,556 9,044 11,071
Current liabilities 7,990 8,199 8,818 10,012 10,280
Total equity and liabilities 37,407 37,452 34,653 36,029 38,133
statement of Cash flows (DKKm) 2023 2022 2021  2020 2019
Cash flows from operating activities
4,080 3,519 2,272  3,837 2,609
Cash flows from investing activities -498 -1,892 -610 -467 -7,755
Cash flows from operating and investing activities (free cash flow) 3,582 1,627 1,662 3,370 -5,146
Cash flows from financing activities -2,085 -387 -3,336 -2,394 4,548
Interest-bearing debt, cash, bank balances and securities, net, year-end - net cash/(net debt) 711 -2,183 -3,189 -4,106 -6,566

1) 2018-2019 have been restated to reflect the reversal of an impairment loss on the Rexulti® product rights in 2017.

2) In 2020 and 2021, securites amounted to DKK 0. 

Key figures 2023 2022 2021  2020 20191
EBIT margin (%)
16.0 15.6 12.3  11.3 18.5
Research and development ratio (%) 17.4 20.6 23.5  25.7 18.3
Return on equity (%) 10.7 9.8 7.5 9.4 13.8
Equity ratio (%) 58.9 55.5 52.7  47.1 44.0
Invested capital (DKKm) 21,334 22,962 21,468 21,079 23,348
Net debt/EBITDA -0.1 0.5 0.9 0.9 1.4
Effective tax rate (%) 23.5 22.6 16.6 17.0 23.6
Purchase of intangible assets, gross (DKKm) 224 449 202 114 88
Purchase of property, plant and equipment, gross (DKKm) 277 371 410 364 356
Purchase of financial assets, gross (DKKm) - - - 17 18
Average number of employees 5,566 5,399 5,488 5,717 5,475
Share data 2023 2022 2021  2020 2019
Number of shares for the calculation of EPS (millions) 999.2 992.9 993.3
993.7
993.5
Earnings per share, basic (EPS) (DKK) 2.31 1.93 1.33
1.59
2.33
Earnings per share, diluted (DEPS) (DKK) 2.31 1.93 1.33
1.59
2.33
Proposed dividend per share (DKK) 0.70 0.58 0.40
0.50
0.82
Cash flow from operating activities per share, diluted (DKK) 4.11 3.54 2.29
3.86
2.63
Net asset value per share, diluted (DKK) 22.22 20.93 18.40
17.08
16.89
Market capitalization (DKKm) 31,812 25,507 33.626 41,582 50,660

1) 2018-2019 have been restated to reflect the reversal of an impairment loss on the Rexulti® product rights in 2017.

More from Lundbeck