Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2018)
44 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 22, 2018
Slide 1: Novo Nordisk Annual General Meeting
Slide 1 Novo Nordisk Annual General Meeting 22 March 2018 Manato Shirley Ohara, diagnosed Adelia Stewart with has type type 1 diabetes 2 diabetes Kanagawa, Japan New Orleans, Louisiana, US
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Novo Nordisk Annual General Meeting 2018 Slide 2
Slide 3: Board of Directors
Novo Nordisk Annual General Meeting 2018 Slide 3 Board of Directors Göran Ando Jeppe Christiansen Brian Daniels Sylvie Grégoire Liz Hewitt Liselotte Hyveled Kasim Kutay Anne Marie Helge Lund Søren Thuesen Stig Strøbæk Kverneland Pedersen
Slide 4: Executive management
Novo Nordisk Annual General Meeting 2018 Slide 4 Executive management President & CEO Lars Fruergaard Jørgensen Research & Product Supply Commercial North America International Biopharm & Finance, Investor Business Development Strategy & Operations Operations Legal Affairs Relations & Services & Cor
Slide 5: Mogens Mogensen and Torben Jensen
Novo Nordisk Annual General Meeting 2018 Slide 5 Mogens Mogensen and Torben Jensen
Slide 6: Klaus Søgaard
Novo Nordisk Annual General Meeting 2018 Slide 6 Klaus Søgaard
Slide 7: Agenda - Annual General Meeting 2018
Novo Nordisk Annual General Meeting 2018 Slide 7 Agenda - Annual General Meeting 2018 1. The Board of Directors’ report on the company’s activities in the past financial year 2. Presentation and adoption of the statutory Annual Report 2017 3. Approval of remuneration of the Board of Directors for 20
Slide 8: Lars Fruergaard Jørgensen, President & CEO
Novo Nordisk Annual General Meeting 2018 Slide 8 Lars Fruergaard Jørgensen President & CEO
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Novo Nordisk Annual General Meeting 2018 Slide 9
Slide 10: Sales growth driven by International Operations
Novo Nordisk Annual General Meeting 2018 Slide 10 Sales growth driven by International Operations Sales as reported – full year 2017 Growth analysis – full year 2017 Region Region Latin America Local currencies Growth Share of growth Japan & Korea +3% North America Operations (0.2%) (5%) (2%) 3% Her
Slide 11: Sales growth is driven by new-generation insulin, Victoza and Saxenda
Novo Nordisk Annual General Meeting 2018 Slide 11 Sales growth is driven by new-generation insulin, Victoza® and Saxenda® Sales as reported – full year 2017 Growth analysis – full year 2017 Growth Other Local currencies Growth Share of growth disorders biopharmaceuticals New-generation insulin1 98%
Slide 12: Key milestones within research and development
Novo Nordisk Annual General Meeting 2018 Slide 12 Key milestones within research and development • Ozempic® approved in the USA and the EU • Ozempic® demonstrated superiority to dulaglutide on HbA1c and body weight in SUSTAIN 7 trial • Victoza® was approved in the USA and the EU as the only GLP-1 fo
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Novo Nordisk Annual General Meeting 2018 Slide 13
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Novo Nordisk Annual General Meeting 2018 Slide 14
Slide 15: Consolidated income statement
Novo Nordisk Annual General Meeting 2018 Slide 15 Consolidated income statement DKK million 2017 2016 Change Sales 111,696 111,780 (0%) Cost of goods sold 17,632 17,183 3% Sales and distribution costs 28,340 28,377 (0%) Research and development costs 14,014 14,563 (4%) Administration costs 3,784 3,9
Slide 16: Consolidated balance sheet per 31 December 2017
Novo Nordisk Annual General Meeting 2018 Slide 16 Consolidated balance sheet per 31 December 2017 Assets (DKK million) 2017 2016 Liabilities (DKK million) 2017 2016 Non-current assets 42,275 37,773 Equity 49,815 45,269 Inventories, trade 41,228 41,076 Non-current liabilities 5,484 4,834 receivables
Slide 17: Increase of dividend payments to shareholders
Novo Nordisk Annual General Meeting 2018 Slide 17 Increase of dividend payments to shareholders DKK billion Interim dividend Dividend 30 CAGR 13.5% 25 20 7.6 15 7.4 10 16 12 13 11 5 10 0 2013 2014 2015 2016 2017 CAGR: Compounded annual growth rate
Slide 18: Remuneration of executives for 2017
Novo Nordisk Annual General Meeting 2018 Slide 18 Remuneration of executives for 2017 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 40 40 35 87%
Slide 19: Financial outlook for 2018
Novo Nordisk Annual General Meeting 2018 Slide 19 Financial outlook for 2018 Expectations 1 February 2018 Sales growth - local currencies 2% to 5% Sales growth - reported Around 7 percentage points lower Operating profit growth - local currencies 1% to 5% Operating profit growth - reported Around 10
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Novo Nordisk Annual General Meeting 2018 Slide 20
Slide 21: Agenda item 2
Novo Nordisk Annual General Meeting 2018 Slide 21 Agenda item 2 Presentation and adoption of the statutory Annual Report 2017
Slide 22: Agenda item 3.1
Novo Nordisk Annual General Meeting 2018 Slide 22 Agenda item 3.1 Approval of remuneration of the Board of Directors for 2017 Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 1,800,00
Slide 23: Agenda item 3.2
Novo Nordisk Annual General Meeting 2018 Slide 23 Agenda item 3.2 Approval of remuneration level for 2018 for the Board of Directors Audit Nomination Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 3.00 2
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Novo Nordisk Annual General Meeting 2018 Slide 24
Slide 25: Agenda item 4 - Distribution of profit
Novo Nordisk Annual General Meeting 2018 Slide 25 Agenda item 4 - Adoption of the resolution to distribute the profit according to the adopted statutory Annual Report 2017 DKK million 2017 Net profit in the parent company, Novo Nordisk A/S 37,873 Proposed appropriation Interim dividend for the year
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Novo Nordisk Annual General Meeting 2018 Slide 26
Slide 27: Agenda item 5
Novo Nordisk Annual General Meeting 2018 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 2018 Slide 28
Slide 29: Helge Lund
Novo Nordisk Annual General Meeting 2018 Slide 29 Helge Lund Management duties • Operating advisor to Clayton Dubilier & Rice, US • Member of the boards of Schlumberger Ltd., Curaçao, P/F Tjaldur, Faroe Islands, and Belron SA, Luxembourg • Member of the board of trustees of the International Crisis
Slide 30: Jeppe Christiansen Vice chairman
Novo Nordisk Annual General Meeting 2018 Slide 30 Jeppe Christiansen Vice chairman
Slide 31: Brian Daniels, Sylvie Grégoire, Liz Hewitt and Kasim Kutay
Novo Nordisk Annual General Meeting 2018 Slide 31 Brian Daniels, Sylvie Grégoire, Liz Hewitt and Kasim Kutay
Slide 32: Andreas Fibig
Novo Nordisk Annual General Meeting 2018 Slide 32 Andreas Fibig Management duties • Chairman of the board and chief executive officer of International Flavours & Fragrances, Inc., based in the US • Member of the board of Bunge Ltd., US, and member of both the audit committee and the finance and risk
Slide 33: Martin Mackay
Novo Nordisk Annual General Meeting 2018 Slide 33 Martin Mackay Management duties • Member of the board of Charles River Laboratories International, Inc., US Former positions • Executive vice president and global head of Research and Development at Alexion Pharmaceuticals, Inc., US, from 2013 to 201
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Novo Nordisk Annual General Meeting 2018 Slide 34
Slide 35: Mette Bøjer Jensen, Anne Marie Kverneland, Thomas Rantzau and Stig Strøbæk
Novo Nordisk Annual General Meeting 2018 Slide 35 Mette Bøjer Jensen, Anne Marie Kverneland, Thomas Rantzau and Stig Strøbæk
Slide 36: Agenda item 6
Novo Nordisk Annual General Meeting 2018 Slide 36 Agenda item 6 Appointment of PriceWaterhouseCoopers as auditor
Slide 37: Agenda item 7
Novo Nordisk Annual General Meeting 2018 Slide 37 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 38: Agenda item 7.1
Novo Nordisk Annual General Meeting 2018 Slide 38 Agenda item 7.1 Reduction of the Company’s B share capital • Reduction of the Company’s B share capital from DKK 392,512,800 to DKK 382,512,800 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 39: Agenda item 7.2
Novo Nordisk Annual General Meeting 2018 Slide 39 Agenda item 7.2 Authorisation to the Board of Directors to repurchase own shares • Authorisation of the Board of Directors, until the Annual General Meeting in 2019, to allow the Company to repurchase own shares of up to 10% of the share capital, sub
Slide 40: Agenda item 7.3
Novo Nordisk Annual General Meeting 2018 Slide 40 Agenda item 7.3 Approval of changes to the Remuneration Approval of changes to the Remuneration Principles Principles (continued) Amendments for executives Amendments for executives • Increase of the maximum possible Long-term Incentive • Ability to
Slide 41: Agenda item 8
Novo Nordisk Annual General Meeting 2018 Slide 41 Agenda item 8 Any other business
Slide 42: Liselotte Hyveled and Søren Thuesen Pedersen
Novo Nordisk Annual General Meeting 2018 Slide 42 Liselotte Hyveled and Søren Thuesen Pedersen
Slide 43: Göran Ando
Novo Nordisk Annual General Meeting 2018 Slide 43 Göran Ando
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Novo Nordisk Annual General Meeting 2018 Slide 44