Financials

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

An overview of Lundbeck’s financial performance.

Financial Overview

Income statement (DKKm) 2021  2020 2019 2018 2017
Revenue 16,299 17,672 17,036 18,117 17,234
Research and development costs 3,823 4,545 3,116 3,277 2,705
Operating profit before depreciation and amortization (EBITDA) 3,720 4,783 4,823 6,436 9,190
Profit/(loss) from operations (EBIT) 2,010 1,990 3,153 4,846 8,174
Net financials 429 84 127 12 131
Profit/(loss) before tax 1,581 1,906 3,026 4,834 8,043
Profit/(loss) for the year 1,318 1,581 2,313 3,553 5,560
Assets (DKKm) 2021  2020 2019 2018 2017
Non-current assets
26,041 25,924 29,095 13,944 13,893
Inventories
2,775 2,163 2,204 1,753 1,376
Receivables 3,558 4,018 3,822 3,261 3,791
Cash, bank balances and securities 2,279 3,924 3,012 6,635 3,677
Total assets 34,653 36,029 38,133 25,593 22,737
Equity and liabilities (DKKm) 2021  2020 20191 20181 20171
Equity
18,279 16,973 16,782
16,833 15,117
Non-current liabilities
7,556 9,044 11,071 1,184 1,141
Current liabilities 8,818 10,012 10,280 7,576 6,479
Total equity and liabilities 34,653 36,029 38,133 25,593 22,737
statement of Cash flows (DKKm) 2021  2020 2019 2018 2017
Cash flows from operating activities
2,272  3,837 2,609 5,981 4,045
Cash flows from investing activities -610 -467 -7,755 -2,907 -1,830
Cash flows from operating and investing activities (free cash flow) 1,662 3,370 -5,146 3,074 2,215
Cash flows from financing activities -3,336 -2,394 4,548 -1607 -2,235
Interest-bearing debt, cash, bank balances and securities, net, year-end - net cash/(net debt) -3,189 -4,106 -6,566 6,635 3,677

1) 2017-2019 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 2021  2020 20191 20181 20171
EBIT margin (%)
12.3  11.3 18.5 26.7 47.4
Research and development ratio (%) 23.5  25.7 18.3 18.1 15.7
Return on equity (%) 7.5 9.4 13.8 22.2 44.8
Equity ratio (%) 52.7  47.1 44.0 65.8 66.5
Invested capital (DKKm) 21,468 21,079 23,348 10,198 11,440
Net debt/EBITDA 0.9 0.9 1.4 -1.0 -0.7
Effective tax rate (%) 16.6 17.0 23.6 26.5 30.9
Purchase of intangible assets, gross (DKKm) 202 114 88 1,149 480
Purchase of property, plant and equipment, gross (DKKm) 410 364 356 300 245
Purchase of financial assets, gross (DKKm) - 17 18 1,524 1,509
Average number of employees 5,488 5,717 5,475 5,060 4,980
Share data 2021  2020 20192 20182 20172
Number of shares for the calculation of EPS (millions) 198.7  198.7 198.7 198.7 197.5
Earnings per share, basic (EPS) (DKK) 6.63 7.95 11.64 17.88 28.14
Earnings per share, diluted (DEPS) (DKK) 6.63  7.95 11.64 17.87 28.10
Proposed dividend per share (DKK) 2.00 2.50 4.10 12.00 8.00
Cash flow from operating activities per share, diluted (DKK) 11.44 19.31 13.13 30.09 20.44
Net asset value per share, diluted (DKK) 92.01 85.42 84.45 84.67 76.03
Market capitalization (DKKm) 33.626 41,582 50,660 56,825 62,700
Price/Earnings, diluted (DKK) 25.47  26.25 21.86 15.97 11.21
Price/Cash flow, diluted (DKK) 14.76 10.82 19.38 9.48 15.41
Price/Net asset value, diluted (DKK) 1.84 2.44 3.01 3.37 4.14

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

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

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