Business
AZN: Full-Year 2017 Results
AZN: Full-Year 2017 Results.
About this update from Astrazeneca Plc
[{"type":"text","content":"\n \nRNS Number : 7444D AstraZeneca PLC 02 February 2018 \n\nAstraZeneca PLC\n2 February 2018 07:00\n \nFull-Year 2017 Results\nEncouraging progress made on commercial execution and cost discipline; Product Sales growth in the quarter.\nAstraZeneca positioned for Product Sales growth from FY 2018\n \nFinancial Summary\n\n\n\n\n \n \n\n\nFY 2017\n\n\nQ4 2017\n\n\n\n\n$m\n\n\n% change\n\n\n$m\n\n\n% change\n\n\n\n\n \n\n\nActual\n\n\nCER1\n\n\nActual\n\n\nCER\n\n\n\n\nTotal Revenue\n\n\n22,465\n\n\n(2)\n\n\n(2)\n\n\n5,777\n\n\n3\n\n\n2\n\n\n\n\nProduct Sales\n\n\n20,152\n\n\n(5)\n\n\n(5)\n\n\n5,487\n\n\n4\n\n\n3\n\n\n\n\nExternalisation Revenue\n\n\n2,313\n\n\n37\n\n\n38\n\n\n290\n\n\n(11)\n\n\n(12)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReported Operating Profit2\n\n\n3,677\n\n\n(25)\n\n\n(28)\n\n\n686\n\n\n(73)\n\n\n(71)\n\n\n\n\nCore Operating Profit3\n\n\n6,855\n\n\n2\n\n\n-\n\n\n1,787\n\n\n(12)\n\n\n(11)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReported Earnings Per Share (EPS)\n\n\n$2.37\n\n\n(14)\n\n\n(15)\n\n\n$1.03\n\n\n(29)\n\n\n(24)\n\n\n\n\nCore EPS\n\n\n$4.28\n\n\n(1)\n\n\n(2)\n\n\n$1.30\n\n\n7\n\n\n13\n\n\n\n\n \nFinancial Highlights\n \n· Total Revenue declined by 2% in the year, in line with guidance. Externalisation Revenue increased by 37% (38% at CER) in the year to $2,313m. Ongoing Externalisation Revenue4 of $821m in the year represented 35% of total Externalisation Revenue (FY 2016: $356m, 21%) \n \n· Cost discipline in the year continued: \n- Reported R&D costs declined by 2% (1% at CER) to $5,757m; Core R&D costs declined by 4% (3% at CER) to $5,412m\n- Reported SG&A costs increased by 9% (10% at CER) to $10,233m; Core SG&A costs declined by 4% (3% at CER) to $7,853m\n \n· Reported EPS of $2.37 and Core EPS of $4.28 for the year, including:\n- A $617m net benefit in Q4 2017 to Reported Profit After Tax, reflecting adjustments to deferred taxes in line with the recently reduced US federal income tax rate from 35% to 21%\n- A $321m benefit to Reported and Core Taxation in Q4 2017; the Reported Tax Rate in FY 2017 was (29)% and the ...