ALK-Abelló (ALK) Q2 2026 earnings summary

Executive summary

• Achieved 18% year-over-year revenue growth in Q2 2026, with EBIT up 19%, driven by strong tablet and anaphylaxis product sales across all regions.

• Tablet sales exceeded DKK 1 billion in Q2, up 22%, fueled by new pediatric indications for ACARIZAX and ITULAZAX.

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

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

• Updated full-year revenue outlook to 14–16% growth in local currencies, reflecting robust tablet sales and reduced pricing risks.

Financial highlights

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

• Q2 EBIT was DKK 445 million (+19% YoY); H1 EBIT DKK 1,015 million (+20% YoY); EBIT margin 25% in Q2, 28% in H1.

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

• Net profit for H1 was DKK 776 million, up from DKK 617 million; free cash flow improved to DKK 889 million.

• Net debt/EBITDA ratio remained negative at 0.6, reflecting a strong financial position.

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.

• Tablet sales to grow double digits, with children and adolescents accounting for a larger share.

• Free cash flow expected to exceed DKK 1 billion; CAPEX projected at DKK 400 million.

• S&M expenses projected to rise to support market expansion; R&D costs to be slightly above 10% of revenue.