Income statement (DKKm) | 2022 | 2021 | 2020 | 2019 | 2018 |
Revenue | 18,246 | 16,299 | 17,672 | 17,036 | 18,117 |
Research and development costs | 3,754 | 3,823 | 4,545 | 3,116 | 3,277 |
Operating profit before depreciation and amortization (EBITDA) | 4,663 | 3,720 | 4,783 | 4,823 | 6,436 |
Profit/(loss) from operations (EBIT) | 2,852 | 2,010 | 1,990 | 3,153 | 4,846 |
Net financials | 378 | 429 | 84 | 127 | 12 |
Profit/(loss) before tax | 2,474 | 1,581 | 1,906 | 3,026 | 4,834 |
Profit/(loss) for the year | 1,916 | 1,318 | 1,581 | 2,313 | 3,553 |
Assets (DKKm) | 2022 | 2021 | 2020 | 2019 | 2018 |
Non-current assets |
26,040 | 26,041 | 25,924 | 29,095 | 13,944 |
Inventories |
4,046 | 2,775 | 2,163 | 2,204 | 1,753 |
Receivables | 3,818 | 3,558 | 4,018 | 3,822 | 3,261 |
Cash, bank balances and securities | 3,548 | 2,279 | 3,924 | 3,012 | 6,635 |
Total assets | 37,452 | 34,653 | 36,029 | 38,133 | 25,593 |
Equity and liabilities (DKKm) | 2022 | 2021 | 2020 | 20191 | 20181 |
Equity |
20,779 | 18,279 | 16,973 | 16,782 |
16,833 |
Non-current liabilities |
8,474 | 7,556 | 9,044 | 11,071 | 1,184 |
Current liabilities | 8,199 | 8,818 | 10,012 | 10,280 | 7,576 |
Total equity and liabilities | 37,452 | 34,653 | 36,029 | 38,133 | 25,593 |
statement of Cash flows (DKKm) | 2022 | 2021 | 2020 | 2019 | 2018 |
Cash flows from operating activities |
3,519 | 2,272 | 3,837 | 2,609 | 5,981 |
Cash flows from investing activities | -1,892 | -610 | -467 | -7,755 | -2,907 |
Cash flows from operating and investing activities (free cash flow) | 1,627 | 1,662 | 3,370 | -5,146 | 3,074 |
Cash flows from financing activities | -387 | -3,336 | -2,394 | 4,548 | -1607 |
Interest-bearing debt, cash, bank balances and securities, net, year-end - net cash/(net debt) | -2,183 | -3,189 | -4,106 | -6,566 | 6,635 |
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 | 2022 | 2021 | 2020 | 20191 | 20181 |
EBIT margin (%) |
15.6 | 12.3 | 11.3 | 18.5 | 26.7 |
Research and development ratio (%) | 20.6 | 23.5 | 25.7 | 18.3 | 18.1 |
Return on equity (%) | 9.8 | 7.5 | 9.4 | 13.8 | 22.2 |
Equity ratio (%) | 55.5 | 52.7 | 47.1 | 44.0 | 65.8 |
Invested capital (DKKm) | 14,490 | 21,468 | 21,079 | 23,348 | 10,198 |
Net debt/EBITDA | 0.5 | 0.9 | 0.9 | 1.4 | -1.0 |
Effective tax rate (%) | 22.6 | 16.6 | 17.0 | 23.6 | 26.5 |
Purchase of intangible assets, gross (DKKm) | 449 | 202 | 114 | 88 | 1,149 |
Purchase of property, plant and equipment, gross (DKKm) | 371 | 410 | 364 | 356 | 300 |
Purchase of financial assets, gross (DKKm) | - | - | 17 | 18 | 1,524 |
Average number of employees | 5,399 | 5,488 | 5,717 | 5,475 | 5,060 |
Share data | 2022 | 2021 | 2020 | 2019 | 2018 |
Number of shares for the calculation of EPS (millions) | 992.9 | 993.3 |
993.7 |
993.5 |
993.4 |
Earnings per share, basic (EPS) (DKK) | 1.93 | 1.33 |
1.59 |
2.33 |
3.58 |
Earnings per share, diluted (DEPS) (DKK) | 1.93 | 1.33 |
1.59 |
2.33 |
3.58 |
Proposed dividend per share (DKK) | 0.58 | 0.40 |
0.50 |
0.82 |
2.40 |
Cash flow from operating activities per share, diluted (DKK) | 3.54 | 2.29 |
3.86 |
2.63 |
6.02 |
Net asset value per share, diluted (DKK) | 20.93 | 18.40 |
17.08 |
16.89 |
16.95 |
Market capitalization (DKKm) | 25,507 | 33.626 | 41,582 | 50,660 | 56,825 |
Price/Earnings, diluted (DKK) | 25.87 | 25.47 | 26.25 | 21.86 | 15.97 |
Price/Cash flow, diluted (DKK) | 14.09 | 14.76 | 10.82 | 19.38 | 9.48 |
Price/Net asset value, diluted (DKK) | 2.39 | 1.84 | 2.44 | 3.01 | 3.37 |
1) 2018-2019 have been restated to reflect the reversal of an impairment loss on the Rexulti® product rights in 2017.
Detailed information related to Lundbeck’s financial performance. Contact Palle Olesen, VP Investor Relations. + 45 3083 2426
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