Financials

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

An overview of Lundbeck’s financial performance.

Financial Overview

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.

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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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