Three-month interim report (Q1) 2024 (unaudited)

Company release No. 11/2024

ALK delivers 10% organic revenue growth with operating profit up 41% in Q1 and upgrades outlook
The growth in ALK's overall sales was primarily driven by the European tablet sales, which were boosted by the inflow of new patients and improved pricing. Sales outside Europe had a soft start to the year, partly due to temporary sales fluctuations and phasing of product shipments to International markets. Outlook for full-year revenue growth now expected at 10-13% (previously 9-12%).

Performance highlights

Comparative figures for Q1 2023 are shown in brackets. Revenue growth rates are stated in local currencies, unless otherwise indicated.

• Total revenue increased by 10% in local currencies to DKK 1,351 million (1,234).
• Tablet sales increased by 22% to DKK 706 million (581) on 28% growth in Europe, 20% growth in North America and 1% growth in International markets which was impacted by phasing of shipments to Japan.
• Combined SCIT and SLIT-drops sales decreased 1% to DKK 500 million (510). Robust growth in European sales was offset by fluctuations in SCIT shipments to China and lower SCIT sales in North America.
• Sales of Other products and services increased 1% to DKK 145 million (143). Jext sales increased by 10% and is normalising after the intermittent supply shortages that impacted sales in Q2-Q4 2023.
• Revenue increased 18% in Europe and 2% in North America and decreased 18% in International markets.
• Operating profit (EBIT) increased by 41% in local currencies to DKK 316 million (228), with an EBIT margin of 23% (18%). Progress was driven by sales growth, improved gross margin and prudent costs management leading to largely unchanged capacity costs to R&D, Sales, Marketing and Administration.   

Financial performance for the first three months 2024

In DKKm	3M 2024	3M 2023	Growth (local currencies)	Growth (reported)
Revenue	1,351	1,234	10%	9.5%
EBIT	316	228	41%	39%
EBIT margin – %	23%	18%

Strategic highlights