Financials

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

An overview of Lundbeck’s financial performance.

Financial Overview

Income statement (DKKm) 2020 2019 2018 2017 2016
Revenue 17,672 17,036 18,117 17,234 15,634
Research and development costs 4,545 3,116 3,277 2,705 2,967
Operating profit before depreciation and amortization (EBITDA) 4,783 4,823 6,436 9,190 3,846
Profit/(loss) from operations (EBIT) 1,990 3,153 4,846 8,174 2,292
Net financials 84 127 12 131 135
Profit/(loss) before tax 1,906 3,026 4,834 8,043 2,157
Profit/(loss) for the year 1,581 2,313 3,553 5,560 1,211
Assets (DKKm) 2020 2019 2018 2017 2016
Non-current assets
25,924 29,095 13,944 13,893 12,686
Non-current assets
2,163 2,204 1,753 1,376 1,528
Receivables 4,018 3,822 3,261 3,791 3,779
Cash, bank balances and securities 3,924 3,012 6,635 3,677 2,217
Total assets 36,029 38,133 25,593 22,737 20,210
Equity and liabilities (DKKm) 2020 20191 20181 20171 2016
Equity
16,973 16,782
16,833 15,117 9,694
Non-current liabilities
9,044 11,071 1,184 1,141 2,740
Current liabilities 10,012 10,280 7,576 6,479 7,776
Total equity and liabilities 36,029 38,133 25,593 22,737 20,210

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

statement of Cash flows (DKKm) 2020 2019 2018 2017 2016
Cash flows from operating activities
3,837 2,609 5,981 4,045 3,126
Cash flows from investing activities -467 -7,755 -2,907 -1,830 -337
Cash flows from operating and investing activities (free cash flow) 3,370 -5,146 3,074 2,215 2,789
Cash flows from financing activities -2,394 4,548 -1607 -2,235 -2,006
Interest-bearing debt, cash, bank balances and securities, net, year-end - net cash/(net debt) -4,106 -6,566 6,635 3,677 326
Key figures 2020 20191 20181 20171 2016
EBIT margin (%)
11.3 18.5 26.7 47.4 14.7
Research and development ratio (%) 25.7 18.3 18.1 15.7 19
Return on equity (%) 9.4 13.8 22.2 44.8 13.1
Equity ratio (%) 47.1 44.0 65.8 66.5 48.0
Invested capital (DKKm) 21,079 23,348 10,198 11,440 9,368
Net debt/EBITDA 0.9 1.4 -1.0 -0.7 -0.1
Effective tax rate (%) 17.0 23.6 26.5 30.9 43.9
Purchase of intangible assets, gross (DKKm) 114 88 1,149 480 104
Purchase of property, plant and equipment, gross (DKKm) 364 356 300 245 238
Purchase of financial assets, gross (DKKm) 17 18 1,524 1,509 16
Average number of employees 5,717 5,475 5,060 4,980 5,120

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

Share data1 2020 20192 20182 20172 2016
Number of shares for the calculation of EPS (millions) 198.7 198.7 198.7 197.5 197.2
Earnings per share, basic (EPS) (DKK) 7.95 11.64 17.88 28.14 6.11
Earnings per share, diluted (DEPS) (DKK) 7.95 11.64 17.87 28.10 6.11
Proposed dividend per share (DKK) 2.50 4.10 12.00 8.00 2.45
Cash flow from operating activities per share, diluted (DKK) 19.31 13.13 30.09 20.44 15.77
Net asset value per share, diluted (DKK) 85.42 84.45 84.67 76.03 48.86
Market capitalization (DKKm) 41,582 50,660 56,825 62,700 56,776
Price/Earnings, diluted (DKK) 26.25 21.86 15.97 11.21 47.04
Price/Cash flow, diluted (DKK) 10.82 19.38 9.48 15.41 18.22
Price/Net asset value, diluted (DKK) 2.44 3.01 3.37 4.14 5.88

1) The calculation is based on a share denomination of DKK 5.
2) 2017-2019 have been restated to reflect the reversal of an impairment loss on the Rexulti® product rights in 2017.
3) Comparative figures have been restated using a factor 0.99997 for the effect of employees’ exercise of warrants.

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Investor Relations 

Detailed information related to Lundbeck’s financial performance. Contact Palle Olesen, VP Investor Relations. + 45 3083 2426 

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