Novo Nordisk’s underlying sales fell by 4% in the first quarter to DKK 70.1bn (Danish Kroner), with increased GLP-1 sales volumes only partially offsetting lower prices.
Underlying operating profit fell by 6% to DKK 32.9bn.
Free cash flow increased by 12% to DKK 12.8bn reflecting a decrease in capital expenditure. Net debt stood at DKK 125.3bn. Dividend payments were stable at DKK 35.3bn with buybacks rising from DKK 1.4bn to DKK 2.4bn.
Full year guidance has improved slightly, with both underlying sales and operating profit now expected to fall between 4% and 12%
The shares rose 7.3% in early trading.
Our view
HL view to follow.
Novo Nordisk key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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