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Novo Nordisk A\/S$47.66$.16.34%

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 Novo Nordisk increased operating profit by 43% in 2015 to DKK 49.4 billion
   Wednesday, February 03, 2016 1:31:07 AM ET

14% local currency operating profit growth adjusted for NNIT divestment

Sales increased by 22% in Danish kroner and by 8% in local currencies to 107.9 billion.

- Sales of modern and new-generation insulin increased by 22% (9% in local currencies).

- Sales of Victoza(R) increased by 34% (18% in local currencies).

- Sales in North America increased by 32% (11% in local currencies).

- Sales in International Operations increased by 19% (15% in local currencies).

- Sales in Region China increased by 22% (4% in local currencies).

Operating profit increased by 43% in Danish kroner and by 21% in local currencies to DKK 49.4 billion. Adjusted for the DKK 2.4 billion non-recurring income related to the partial divestment of NNIT, the operating margin was 43.6% corresponding to an increase in operating profit in local currencies of 14%.

Net profit increased by 32% to DKK 34.9 billion. Diluted earnings per share increased by 34% to DKK 13.52. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 22% and 25% respectively.

In 2015, Novo Nordisk achieved its four long-term financial targets established in January 2013 and consequently, the Board of Directors has approved three updated long-term financial targets to guide Novo Nordisk’s performance. The target for operating profit growth has now been set at 10%, whereas no target for operating margin development has been established, as the operating margin is expected to stay at the current level around 44%. The targets for operating profit after tax to net operating assets and cash to earnings remain unchanged at 125% and 90% respectively.

For 2016, sales growth is expected to be 5-9% measured in local currencies. Growth in operating profit is also expected to be 5-9% measured in local currencies, adjusted for the non-recurring impact of the partial divestment of NNIT and the income related to the out-licensing of assets for inflammatory disorders, both in 2015. Growth reported in DKK, for both items, is expected to be around 1 percentage point lower than the local currency levels.

At the Annual General Meeting on 18 March 2016, the Board of Directors will propose a 28% increase in dividend to DKK 6.40 per share of DKK 0.20 and intends to initiate a new 12-months share repurchase programme of up to DKK 14 billion.

Lars Rebien Sorensen, president and CEO: "We are very pleased with Novo Nordisk’s performance in 2015 and the achievement of our four long-term financial targets. In 2016 we will continue to focus on the global launch of Tresiba(R) and we are encouraged by the recent SWITCH 2 data, which further demonstrate the ability of Tresiba(R) to reduce the risk of hypoglycaemia in people with type 2 diabetes on basal insulin therapy."

Contacts for further information

Katrine Sperling        +45 3079 6718
Ken Inchausti (US)      +1 267 809 7552
Peter Hugreffe Ankersen +45 3075 9085
Daniel Bohsen           +45 3079 6376
Melanie Raouzeos        +45 3075 3479
Kasper Veje             +45 3075 8519

Company announcement No 8 / 2015

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Novo Nordisk A/S via Globenewswire


Company announcement No 8 / 2016 -

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