2024-05-05 04:03:38 ET
ALK-Abelló A/S (AKBLF)
Q1 2024 Results Conference Call
May 03, 2024 06:30 AM ET
Company Participants
Per Plotnikof - Head of Investor Relations
Peter Halling - Chief Executive Officer
Claus Steensen Solje - Chief Financial Officer
Conference Call Participants
Martin Parkhøi - SEB
Michael Novod - Nordea
Ben Jackson - Jefferies
Peter Sehested - ABG
Sushila Hernandez - Van Lanschot Kempen
Thomas Bowers - Danske Bank
Presentation
Per Plotnikof
Hello, everyone, and welcome to this presentation of ALK's Q1 Results, and thank you all for joining us.
Let's turn to Slide number 2 with an introduction to agenda and the speakers. My name is Per Plotnikof. I'm Head of Investor Relations. With me today are CEO, Peter Halling; and CFO, Claus Steensen Solje.
First, we'll share a couple of highlights from the quarter, and then we'll take a closer look on European tablet sales, market trends and financials. We will also provide a strategy status before we cover the outlook. And then we will end the presentation with a customary Q&A session.
And to get started, I'll hand over to Peter and Slide number 3. Please go ahead, Peter.
Peter Halling
Thank you, Per, and thank you all for joining this call. 2024 started well for ALK. Revenue in Q1 was up 10% organically, and the operating profit EBIT increased by 41% measured in local currencies. Revenue growth was driven by Europe in general and European tablet sales in particular. Total tablet sales increased 22%. And in Europe alone, it grew by 28%, as we succeeded in adding to the growth momentum that we established in the second half of 2023. Obviously, we're very pleased to see the European tablet sales continue to rebound and reinstate its position as a key growth driver to ALK.
While European sales were ahead of expectations, sales outside Europe were soft due to temporary sales fluctuations and phasing of product shipments to international markets. Nevertheless, we remain confident that we'll be able to grow full year revenue in all sales regions.
Consequently, the full year guidance has been updated accordingly. So we now expect full year revenue growth to be up slightly better from 9% to 12% to 10% to 13%. Moreover, we have made solid progress on our strategic agenda in the first quarter, in particular, with the efforts to extend the reach of respiratory tablets to new patient groups and local markets....
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ALK-Abelló A/S (AKBLF) Q1 2024 Earnings Call Transcript