ALK-Abelló (ALK) investor relations material

Executive summary

• Achieved 18% year-over-year revenue growth in Q2 2026, driven by strong tablet and anaphylaxis product sales and reduced risks.

• EBIT increased 19% year-over-year, supported by sales growth and improved gross margin, partially offset by higher R&D and commercial investments.

• EBIT margin for H1 2026 reached 28%.

• Updated full-year revenue outlook to 14–16% growth in local currencies, reflecting robust performance and improved risk profile.

Financial highlights

• H1 2026 revenue reached DKK 3,566 million, up 18% from H1 2025; Q2 revenue was DKK 1,795 million (+18% YoY).

• Gross profit rose to DKK 2,423 million, with gross margin improving to 68% from 66% year-over-year.

• Operating profit (EBIT) for H1 2026 was DKK 1,015 million, up 20% year-over-year; Q2 EBIT was DKK 445 million (+19% YoY).

• Free cash flow increased to DKK 889 million from DKK 546 million in H1 2025.

• Net profit for H1: DKK 776 million (+26% YoY); EPS H1: DKK 3.5 (diluted).

Outlook and guidance

• Full-year 2026 revenue growth expected at 14–16% in local currencies, up from previous 13–16%.

• EBIT margin guidance set at 26%.

• Gross margin anticipated to be slightly higher than last year; R&D costs to be slightly above 10% of revenue.

• S&M expenses projected to rise to support market expansion.

• CAPEX projected at DKK 400 million; free cash flow to slightly exceed DKK 1,000 million.