ALK-Abelló (ALK) Q2 2026 earnings summary

Executive summary

• Achieved 18% year-over-year revenue growth in Q2 2026, with double-digit increases across all regions, driven by strong tablet and anaphylaxis product sales.

• EBIT increased 19% year-over-year in Q2, supported by sales growth and improved gross margin, partially offset by higher R&D and commercial investments.

• Tablet sales exceeded DKK 1 billion in Q2, up 22%, with pediatric indications for ACARIZAX and ITULAZAX as key drivers.

• Strong performance in anaphylaxis products, with Jext and neffy contributing to growth, especially in Germany and Canada.

• Appointment of Jacob Glenting as new head of R&D to drive innovation and bridge commercial and scientific operations.

Financial highlights

• Q2 revenue: DKK 1,795 million (+18% YoY); H1 revenue: DKK 3,566 million (+18% YoY).

• Gross profit for H1: DKK 2,423 million, with gross margin improving to 68% from 66% year-over-year.

• EBIT for H1: DKK 1,015 million (+20% YoY); EBIT margin: 25% in Q2, 28% in H1.

• Net profit for H1: DKK 776 million, up from DKK 617 million year-over-year.

• Free cash flow for H1: DKK 889 million, exceeding expectations due to higher earnings and lower CapEx.

Outlook and guidance

• Full-year 2026 revenue growth expected at 14–16% in local currencies (previously 13–16%).

• EBIT margin forecasted at around 26%; gross margin projected slightly higher than last year.

• Free cash flow now expected to exceed DKK 1 billion for the year.

• Double-digit tablet sales growth anticipated, with children and adolescents accounting for a growing share.

• Ongoing investments in product launches, R&D, and commercial infrastructure to continue.