Sanofi’s new CEO delivers strong 2nd-qtr results, as profits leap
French pharma major Sanofi (Euronext: SAN) reported second-quarter 2015 financial results this morning, with sales rising 4.9% (16.1% on a reported basis) to 9.38 billion euros ($10.29 billion), with 11.2 points attributed to the strength of the US dollar against the euro. This beat analysts’ estimates for revenue of 9 billion euros.
Business net income grew 4.2% at constant exchange rates (+19.7% on a reported basis) to 1.84 billion euros. Business earnings per share increased 5.1% at CER to 1.41 euros - exceeding the 1.32 euro-a-share average of 12 analyst estimates compiled by Bloomberg - and grew 20.5% on a reported basis, buoyed by its biotech business (Genzyme) and lower costs. Net profit of 1.3 billion euros for the quarter was up 68% from 777 million euros in the like year-earlier period. However, Sanofi’s shares dipped 0.3% to 97.74 euros by mid-morning trading.
2015 financial guidance
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