Novo Nordisk - Financial Results 2001

| Source: Novo Nordisk A/S Novo Nordisk A/S

 
  • Novo Nordisk increased operating profit by 17% to DKK 5,614 million from DKK 4,816 million, thereby exceeding its 15% growth target.
      
  • The growth was driven by a sales increase of 14% to DKK 23,776 million compared to DKK 20,811 million in 2000. The sales increase was 17% measured in local currencies.
      
  • Diabetes care sales were up 14% to DKK 16,624 million.
     
  • Haemostasis management (NovoSeven®) sales were up 36% to DKK 3,096 million.
     
  • Growth hormone therapy sales were up 3% to DKK 2,164 million.
     
  • Hormone replacement therapy sales were up 10% to DKK 1,435 million.
     
  • Profit before tax increased by 25% to DKK 6,030 million and net profit increased by 25% to DKK 3,865 million.
     
  • Fully diluted earnings per share increased by 26% to DKK 11.10 in 2001 from DKK 8.82 in 2000.
     
  • Lars Rebien Sørensen, president & CEO said: "2001 has been a good year for Novo Nordisk. We delivered the financial results we had promised. We have initiated the largest capacity expansion programme in the history of the company. We have expanded our international organisation significantly, and we have seen encouraging results in our discovery and development pipeline. All in all, we have created a solid foundation for the future growth of our business."
      
  • At the Annual General Meeting on 12 March 2002 the Board of Directors will propose:
     
  • An increase in dividend of 26% to DKK 3.35 per share of DKK 2 corresponding to a pay-out ratio of 30%.
     
  • A donation to the World Diabetes Foundation of approximately DKK 500 million over a 10-year period.
     
  • Assuming that currency exchange rates remain at the current level for the rest of the year Novo Nordisk expects to meet the long-term financial target of growth in operating profit of 15% in 2002. This estimate includes income of approximately DKK 240 million related to the accounting effect for Novo Nordisk of the initial public offering of ZymoGenetics on 1 February 2002.

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