Business
Half-year Report
Half-year Report.
About this update from Astrazeneca Plc
[{"type":"text","content":"\n\nAstraZeneca\n25 July 2024\nH1 and Q2 2024 results\n \nStrong underlying growth supports FY 2024 guidance upgrade, with both Total Revenue and Core EPS now expected to increase by a mid teens percentage at CER[1]\n \nRevenue and EPS summary\n \n\n\n\n\n\n\n\n\n\n\nH1 2024\n\n\n% Change\n\n\nQ2 2024\n\n\n% Change\n\n\n\n\n \n\n\n \n\n\n$m \n\n\nActual \n\n\nCER\n\n\n$m \n\n\nActual \n\n\nCER\n\n\n\n\n- Product Sales\n\n\n\n\n\n24,629 \n\n\n15 \n\n\n18 \n\n\n12,452 \n\n\n14 \n\n\n18 \n\n\n\n\n- Alliance Revenue\n\n\n\n\n\n939 \n\n\n50 \n\n\n50 \n\n\n482 \n\n\n42 \n\n\n42 \n\n\n\n\n- Collaboration Revenue\n\n\n\n\n\n49 \n\n\n(78)\n\n\n(78)\n\n\n4 \n\n\n(98)\n\n\n(98)\n\n\n\n\nTotal Revenue\n\n\n\n\n\n25,617 \n\n\n15 \n\n\n18 \n\n\n12,938 \n\n\n13 \n\n\n17 \n\n\n\n\nReported EPS\n\n\n\n\n\n$2.65 \n\n\n13 \n\n\n23 \n\n\n$1.24 \n\n\n6 \n\n\n15 \n\n\n\n\nCore[2] EPS\n\n\n\n\n\n$4.03 \n\n\n(1)\n\n\n5 \n\n\n$1.98 \n\n\n(8)\n\n\n(3)\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 \nFinancial performance for H1 2024 (Growth numbers at constant exchange rates)\n \n‒ Total Revenue up 18% to $25,617m, driven by an 18% increase in Product Sales and continued growth in Alliance Revenue from partnered medicines\n \n‒ Total Revenue growth from Oncology was 22%, CVRM 22%, R&I 22%, and Rare Disease 15%\n \n‒ Core Product Sales Gross Margin[3] of 82%\n \n‒ Core Operating Margin of 33%\n \n‒ Core Tax Rate of 20%\n \n‒ Core EPS increased 5% to $4.03. The increase in Core EPS was lower than Total Revenue growth principally due to gains recognised in the prior year, specifically a $241m gain on the disposal of Pulmicort Flexhaler US rights (Q1 2023), and a $712m gain relating to updates to contractual arrangements for Beyfortus (Q2 2023)\n \n‒ Interim dividend increased 7c to $1.00 (77.6 pence, 10.79 SEK) has been declared\n \n‒ Guidance for FY 2024 increased, with Total Revenue and Core EPS anticipated to grow by a mid teens percentage at CER (previously a low double-digi...