Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2017)
52 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 23, 2017
Slide 1: Novo Nordisk Annual General Meeting
Slide 1 Novo Nordisk Annual General Meeting 23 March 2017 Manato Ohara, diagnosed with type 1 diabetes Kanagawa, Japan
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Novo Nordisk Annual General Meeting 2017 Slide 2
Slide 3: Board of Directors
Novo Nordisk Annual General Meeting 2017 Slide 3 Board of Directors Göran Ando Jeppe Christiansen Bruno Angelici Brian Daniels Sylvie Grégoire Liz Hewitt Mary Szela Liselotte Hyveled Anne Marie Søren Thuesen Stig Strøbæk Kverneland Pedersen
Slide 4: Executive management
Novo Nordisk Annual General Meeting 2017 Slide 4 Executive management President & CEO Lars Fruergaard Jørgensen Finance, Legal & Research & Product Supply North America International Corporate Investor Relations Development Operations Operations Development Jesper Mads Krogsgaard Henrik Wulff Doug L
Slide 5: Mogens Mogensen and Torben Jensen
Novo Nordisk Annual General Meeting 2017 Slide 5 Mogens Mogensen and Torben Jensen
Slide 6: Klaus Søgaard
Novo Nordisk Annual General Meeting 2017 Slide 6 Klaus Søgaard
Slide 7: Agenda - Annual General Meeting 2017
Novo Nordisk Annual General Meeting 2017 Slide 7 Agenda - Annual General Meeting 2017 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the statutory Annual Report 2016 3. Approval of remuneration of the Board of Directors f
Slide 8: Lars Fruergaard Jørgensen - Agenda
Novo Nordisk Annual General Meeting 2017 Slide 8 Lars Fruergaard Agenda - AnnualJørgensen General Meeting 2017 President & CEO 1. The Board of Directors’ oral report on the company’s activities in the past financial year 2. Presentation and adoption of the statutory Annual Report 2016 3. Approval of
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Novo Nordisk Annual General Meeting 2017 Slide 9
Slide 10: All regions contributed to local currency growth in 2016
Novo Nordisk Annual General Meeting 2017 Slide 10 All regions contributed to local currency growth in 2016 Sales as reported in 2016 Sales growth in 2016 Pacific Local currencies Growth Share of growth Region China +10% +6% USA 4% 37% 5% 9% Europe 2% 5% International 14% USA Operations International
Slide 11: Sales growth is driven by new-generation insulin, Victoza and Saxenda
Novo Nordisk Annual General Meeting 2017 Slide 11 Sales growth is driven by new-generation insulin, Victoza® and Saxenda® Sales as reported in 2016 Sales growth in 2016 Local currencies Growth Share of growth Other biopharmaceuticals Norditropin® (7%) New-generation insulin1 212% 51% +12% Modern ins
Slide 12: Key milestones within research and development
Novo Nordisk Annual General Meeting 2017 Slide 12 Key milestones within research and development • LEADER demonstrated that Victoza® statistically significantly reduces the risk of major adverse cardiovascular events by 13% once-weekly • SUSTAIN 6 demonstrated that semaglutide statistically signific
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Novo Nordisk Annual General Meeting 2017 Slide 13
Slide 14: Three fundamental priorities to drive long-term success for Novo Nordisk
Novo Nordisk Annual General Meeting 2017 Slide 14 Three fundamental priorities to drive long-term success for Novo Nordisk “Product innovation is and will be the key to our success” “We need to innovate the way we commercialize our products” “It’s not only what we do, but also how we do it that
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Novo Nordisk Annual General Meeting 2017 Slide 15
Slide 16: Consolidated income statement
Novo Nordisk Annual General Meeting 2017 Slide 16 Consolidated income statement DKK million 2016 2015 Change Sales 111,780 107,927 4% Cost of goods sold 17,183 16,188 6% Sales and distribution costs 28,377 28,312 0% Research and development costs 14,563 13,608 7% Administration costs 3,962 3,857 3%
Slide 17: Consolidated statement of changes in equity
Novo Nordisk Annual General Meeting 2017 Slide 17 Consolidated statement of changes in equity DKK million 2016 2015 Equity at the beginning of the year 46,969 40,294 Net profit for the year 37,925 34,860 Dividends (23,830) (12,905) Purchase of treasury shares (15,057) (17,229) Sale of treasury share
Slide 18: Consolidated balance sheet per 31 December 2016
Novo Nordisk Annual General Meeting 2017 Slide 18 Consolidated balance sheet per 31 December 2016 Assets (DKK million) 2016 2015 Liabilities (DKK million) 2016 2015 Non-current assets 37,773 36,659 Equity 45,269 46,969 Inventories, trade 41,076 38,217 Non-current liabilities 4,834 3,957 receivables
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Novo Nordisk Annual General Meeting 2017 Slide 19
Slide 20: Remuneration of executives for 2016
Novo Nordisk Annual General Meeting 2017 Slide 20 Remuneration of executives for 2016 Other registered members of Chief executive officer Executive Management1 DKK Base salary Benefits Bonus DKK Base salary Benefits Bonus million Pension LTIP performance million Pension LTIP performance 50 50 45 100
Slide 21: Financial Outlook for 2017
Slide 21 Financial Outlook for 2017 Expectations 2 February 2017 Sales growth – local currencies Between -1% and +4% Sales growth – reported Around 2 percentage points higher Operating profit growth – local currencies Between -2% and +3% Operating profit growth – reported Around 2 percentage points
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Novo Nordisk Annual General Meeting 2017 Slide 22
Slide 23: Agenda item 2
Novo Nordisk Annual General Meeting 2017 Slide 23 Agenda item 2 Presentation and adoption of the statutory Annual Report 2016
Slide 24: Agenda item 3
Novo Nordisk Annual General Meeting 2017 Slide 24 Agenda item 3 Approval of remuneration of the Board of Directors for 2016 and remuneration level for 2017 Nomination Remuneration Board Audit Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 1,800,0
Slide 25: Agenda item 4 - Distribution of profit
Novo Nordisk Annual General Meeting 2017 Slide 25 Agenda item 4 - Adoption of the resolution to distribute the profit according to the adopted statutory Annual Report 2016 DKK million 2016 Net profit in the parent company, Novo Nordisk A/S 37,791 Proposed appropriation Interim dividend for the year
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Novo Nordisk Annual General Meeting 2017 Slide 26
Slide 27: Agenda item 5
Novo Nordisk Annual General Meeting 2017 Slide 27 Agenda item 5 Election of members to the Board of Directors, including chairman and vice chairman • 5.1 Election of chairman • 5.2 Election of vice chairman • 5.3 Election of other members to the Board of Directors
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Novo Nordisk Annual General Meeting 2017 Slide 28
Slide 29: Göran Ando, Chairman
Novo Nordisk Annual General Meeting 2017 Slide 29 Göran Ando Chairman
Slide 30: Jeppe Christiansen, Vice chairman
Novo Nordisk Annual General Meeting 2017 Slide 30 Jeppe Christiansen Vice chairman
Slide 31: Brian Daniels, Sylvie Grégoire, Liz Hewitt and Mary Szela
Novo Nordisk Annual General Meeting 2017 Slide 31 Brian Daniels, Sylvie Grégoire, Liz Hewitt and Mary Szela
Slide 32: Bruno Angelici
Novo Nordisk Annual General Meeting 2017 Slide 32 Bruno Angelici
Slide 33: Kasim Kutay
Novo Nordisk Annual General Meeting 2017 Slide 33 Kasim Kutay Management duties • Chief executive officer of Novo A/S, Denmark • Member of the board of Novozymes A/S, Denmark Former positions • Managing director, co-head of Europe and member of the Global Management Committee of Moelis & Co., UK, fr
Slide 34: Helge Lund
Novo Nordisk Annual General Meeting 2017 Slide 34 Helge Lund Management duties • Operating advisor to Clayton Dubilier & Rice, US • Senior advisor to McKinsey & Co, US • Member of the boards of Schlumberger Ltd., Curaçao, and P/F Tjaldur • Member of the Board of Trustees of the International Crisis
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Novo Nordisk Annual General Meeting 2017 Slide 35
Slide 36: Liselotte Hyveled, Anne Marie Kverneland, Søren Thuesen Pedersen and Stig Strøbæk
Novo Nordisk Annual General Meeting 2017 Slide 36 Liselotte Hyveled, Anne Marie Kverneland, Søren Thuesen Pedersen and Stig Strøbæk
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Novo Nordisk Annual General Meeting 2017 Slide 37
Slide 38: Agenda item 6
Novo Nordisk Annual General Meeting 2017 Slide 38 Agenda item 6 Appointment of PriceWaterhouseCoopers as auditor
Slide 39: Agenda item 7
Novo Nordisk Annual General Meeting 2017 Slide 39 Agenda item 7 Proposals from the Board of Directors • Re item 7.1 – Reduction of the Company’s B share capital • Re item 7.2 – Authorisation to the Board of Directors to repurchase own shares • Re item 7.3 – Approval of changes to the Remuneration Pr
Slide 40: Agenda item 7.1
Novo Nordisk Annual General Meeting 2017 Slide 40 Agenda item 7.1 Reduction of the Company’s B share capital • Reduction of the Company’s B share capital from DKK 402,512,800 to DKK 392,512,800 by cancellation of 50,000,000 B shares of DKK 0.20 each from the Company’s own holdings of B shares at a n
Slide 41: Agenda item 7.2
Novo Nordisk Annual General Meeting 2017 Slide 41 Agenda item 7.2 Authorisation to the Board of Directors to repurchase own shares • Authorisation of the Board of Directors, until the next Annual General Meeting, to allow the Company to repurchase own shares of up to 10% of the share capital, subjec
Slide 42: Agenda item 7.3
Novo Nordisk Annual General Meeting 2017 Slide 42 Agenda item 7.3 Approval of changes to the Remuneration Principles Amendments for executives: • A new requirement for the president and chief executive officer to hold shares corresponding to 2 times the annual gross salary and for the executive vice
Slide 43: E-voter voting device
Novo Nordisk Annual General Meeting 2017 Slide 43 E-voter® voting device
Slide 44: Agenda item 7.3 voting
Novo Nordisk Annual General Meeting 2017 Slide 44 Agenda item 7.3 Dagsordenens punkt 7.3 Approval of changes to the Remuneration Principles Godkendelse af reviderede aflønningsprincipper Votes % of cast votes (stemmer) (% af afgivne stemmer) For (For) Against (Imod) Blank (Blank)
Slide 45: Agenda item 8
Novo Nordisk Annual General Meeting 2017 Slide 45 Agenda item 8 Shareholder proposals from Kathe Sohn og Flemming Sohn • Re item 8.1 – Free parking for the shareholders in connection with the informal Shareholders’ Meeting • Re item 8.2 – The buffet after the informal Shareholders’ Meeting is served
Slide 46: Agenda item 8.1
Novo Nordisk Annual General Meeting 2017 Slide 46 Agenda item 8.1 Shareholder proposals from Kathe Sohn og Flemming Sohn • Re item 8.1 – Free parking for the shareholders in connection with the informal Shareholders’ Meeting
Slide 47: Agenda item 8.2
Novo Nordisk Annual General Meeting 2017 Slide 47 Agenda item 8.2 Shareholder proposals from Kathe Sohn og Flemming Sohn • Re item 8.2 – The buffet after the informal Shareholders’ Meeting is served as set table catering
Slide 48: Agenda item 8.1 voting
Novo Nordisk Annual General Meeting 2017 Slide 48 Agenda item 8.1 Dagsordenens punkt 8.1 Free parking for the shareholders in connection with the informal Shareholders’ Meeting Gratis parkering til aktionærerne i forbindelse med det uformelle aktionærmøde Votes % of cast votes (stemmer) (% af afgivn
Slide 49: Agenda item 8.2 voting
Novo Nordisk Annual General Meeting 2017 Slide 49 Agenda item 8.2 Dagsordenens punkt 8.2 The buffet after the informal Shareholders’ Meeting is served as set table catering Opdækning ved borde til buffeten efter det uformelle aktionærmøde Votes % of cast votes (stemmer) (% af afgivne stemmer) For (F
Slide 50: Agenda item 9
Novo Nordisk Annual General Meeting 2017 Slide 50 Agenda item 9 Any other business
Slide 51: Bruno Angelici
Novo Nordisk Annual General Meeting 2017 Slide 51 Bruno Angelici
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Novo Nordisk Annual General Meeting 2017 Slide 52