Lundbeck achieves sales growth, despite 'unprecedented times'Lundbeck achieves sales growth, despite 'unprecedented times'

4 February 2021
lundbeck_headquarters_3_large

Danish CNS specialist Lundbeck (LUND: CO) today released full-year 2020 financial results, showing that growth continued across all regions, with revenue of 17,672 million Danish kroner ($2.89 billion), a rise of 4% in local currencies when compared to 2019.

Core earnings before interest and taxes (EBIT) were 4,436 million kroner, in accordance with financial guidance of 4.3 – 4.5 billion kroner. Core EBIT margin reached 25.1%. Lundbeck also benefited from COVID-19 related cost avoidance throughout the year.

Early market reaction was negative, but by late afternoon trading Lundbeck’s shares were up 8.75% at 241.00 kroner.

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