71 slides from H. Lundbeck A/s Class A's earnings presentation, Feb 9, 2022
Slide 1: Financial results & business update FY 2021
Financial results & business update FY 2021 9 FEBRUARY, 2022
Slide 2: Company Disclaimer
COMPANY DISCLAIMER This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Forward looking statements include, without limitation, any statement that may predict,
Slide 3: Solid operational performance in a difficult year
FY 2021: HIGHLIGHTS Solid operational performance in a difficult year • Revenue: DKK 16.3bn • Continued strong momentum of strategic brands: Up 15% • Northera LoE: -74% Y/Y • Core EBIT reached DKK 3.5bn and Core EBIT margin reached 21.6% • Net debt reduced to DKK 3.2bn from DKK 4.1bn in 2020 • Great
Slide 4: New share structure with A-shares and B-shares
FY 2021: HIGHLIGHTS New share structure with A-shares and B-shares to increase financial capacity to fund future growth opportunities • The proposed change to the share structure was introduced by the Lundbeck Foundation and was subsequently developed together with Lundbeck • Each of Lundbeck’s exis
Slide 5: Strategic brands are major revenue contributors, continuing double-digit growth
FY 2021: PRODUCT PERFORMANCE Strategic brands are major revenue contributors, continuing double-digit growth Strategic brands* revenue +18% Strategic brands sales growth in L.C. (Quarterly - DKKm) 3,000 Europe International Markets North America +23% DKK 9.3bn Global Lundbeck sales in 2021 (57% of t
Slide 6: Vyepti growth continues to perform; several new markets to launch during 2022
FY 2021: PRODUCT PERFORMANCE Vyepti growth continues to perform; several new markets to launch during 2022 +446% Vyepti (sales growth in L.C.) Vyepti (FY - DKKm) 600 DKK 492m Global Lundbeck sales in 2021 +429% 500 Strengthening the brand 400 • Approved in Europe including in the UK in January 2022
Slide 7: Brintellix/Trintellix shows solid double-digit growth
FY 2021: PRODUCT PERFORMANCE Brintellix/Trintellix shows solid double-digit growth driven mainly by Europe and International Markets +16% Brintellix/Trintellix (sales growth in L.C.) Brintellix/Trintellix (FY - DKKm) 5,000 Europe International Markets North America DKK 3.5bn Global Lundbeck sales in
Slide 8: Rexulti continues to benefit from strong product profile
FY 2021: PRODUCT PERFORMANCE Rexulti continues to benefit from strong product profile +14% Rexulti (sales growth in L.C.) Rexulti/Rxulti (FY - DKKm) 4,000 RoW North America DKK 2.9bn Global Lundbeck sales in 2021 +9% 3,000 Strengthening the brand • FDA sNDA approval for schizophrenia in adolescents
Slide 9: Abilify Maintena benefits from solid market growth
FY 2021: PRODUCT PERFORMANCE Abilify Maintena benefits from solid market growth and market share increases +8% Abilify Maintena (sales growth in L.C.) Abilify Maintena (FY - DKKm) 3,000 Europe International Markets North America DKK 2.4bn Global Lundbeck sales in 2021 +7% Strengthening the brand 2,0
Slide 10: Steady progress in R&D – two projects in clinical phase II testing
FY 2021: RESEARCH & DEVELOPMENT UPDATE Steady progress in R&D – two projects in clinical phase II testing Vyepti • Approved in EU for prophylaxis of migraine in adults who have at least 4 migraine days per month – global roll-out continues according to plan • Asia pivotal program and LCM activities
Slide 11: Lu AG09222: Potential to build a migraine franchise with PACAP inhibitor
FY 2021: RESEARCH & DEVELOPMENT UPDATE Lu AG09222: Potential to build a migraine franchise in the future with PACAP inhibitor mAb A differentiated approach to migraine prevention • A differentiated approach to migraine prevention • Selective PACAP1) binding humanized antibody • Pre-clinical data2) i
Slide 12: Lu AG09222: anti-PACAP mAb progressed to phase II
FY 2021: RESEARCH & DEVELOPMENT UPDATE Lu AG09222: anti-PACAP mAb progressed to phase II Phase II study (HOPE)1): • PoC study in adults with migraine who have not been helped by prior preventive treatments • Commenced November 2021 • Primary endpoint: Change from baseline in the number of monthly mi
Slide 13: Great progress in the pipeline across the portfolio
FY 2021: RESEARCH & DEVELOPMENT UPDATE Great progress in the pipeline across the portfolio Project Biology Area Phase I Phase II Phase III Filing/launch Eptinezumab (anti-CGRP mAb)1 Migraine prevention Eptinezumab (anti-CGRP mAb)1 Hormonal / neuropeptide Episodic cluster headache signaling Lu AG0922
Slide 14: Strategic expansion in our R&D activities
FY 2021: RESEARCH & DEVELOPMENT UPDATE Strategic expansion in our R&D activities Increased R&D productivity R&D transformation • Strategic focus in four most promising biology clusters • Drug modality agnostic - Biotherapeutics competences across R&D 38 new clinical trials initiated since 2019 • De-
Slide 15: Solid financial performance in 2021 considering impact from expected Northera erosion
FY 2021: FINANCIAL PERFORMANCE Solid financial performance in 2021 considering impact from expected Northera erosion Revenue DKKm FY 2021 Δ% y/y Q4 2021 Δ% y/y • Excluding Northera, revenue up by 3% in FY Revenue 16,299 -8% 4,053 -5% 2021 and 9% in Q4 2021 Gross margin 77.6% +1pp 75.4% -1pp • Strong
Slide 16: 2022 financial guidance - return to growth
FY 2021: FINANCIAL PERFORMANCE 2022 financial guidance - return to growth on revenue, EBITDA and Core EBIT FY 2022 financial guidance FY 2022 considerations Revenue DKKm FY 2021 Actual 2022 Guidance • Continued solid growth of Abilify Maintena, Brintellix/Trintellix and Rexulti Revenue 16,299 16.7 ̶
Slide 17: New share structure provides increased financial flexibility
FY 2021: CHANGE IN SHARE STRUCTURE New share structure provides increased financial flexibility to pursue Lundbeck’s strategy The new share structure “Expand and Invest to Grow Strategy” • B-shares as a new long term funding source • Increased flexibility to pursue inorganic growth • Reduces financi
Slide 18: Proposed evolution of Lundbeck's share structure
FY 2021: CHANGE IN SHARE STRUCTURE Proposed evolution of Lundbeck’s share structure - No impact on voting rights or economic ownership for existing shareholders Key terms Today: Proposed Share One share Split • Each existing ordinary share to be replaced by 1 A-share and 4 B-shares Economic Sharehol
Slide 19: Future dates for the transaction
FY 2021: CHANGE IN SHARE STRUCTURE Future dates for the transaction Timing (Illustrative and Key events expected) ▪ Initiation of listing document approval process with the February 2022 Danish Financial Supervisory Authority May 11, 2022 ▪ Financial statements for the first three months of 2022 Jun
Slide 20: Lundbeck has good growth visibility the coming years
FY 2021: CLOSING REMARKS Lundbeck has good growth visibility the coming years Lundbeck revenue progression (FY - DKKm) 2001 2006 2011 2016 2022e 2028e (mid- (illustrative) point) 20 Lundbeck
Slide 21: Lundbeck: Focused on delivering growth today and tomorrow
FY 2021: CLOSING REMARKS Lundbeck: Focused on delivering growth today and tomorrow Maximizing current Good growth visibility growth drivers the next 5-7 years Vyepti: Global roll-out Transformation of R&D offers substantial progressing well growth opportunities Rexulti: Substantial Financial strengt
Slide 22: Q&A
Q&A
Slide 23: Progress on all five strategic imperatives of 'Expand and Invest to Grow'
FY 2021: APPENDIX - CORPORATE STRATEGY Since 2019, significant progress on all five strategic imperatives of the ‘Expand and Invest to Grow’ strategy… Expand operating space and rebuild pipeline Maximize existing brands • Expansion into new areas • Strong existing portfolio • Strengthening and expan
Slide 24: Lundbeck has good growth visibility the coming years
FY 2021: APPENDIX – CORPORATE STRATEGY Lundbeck has good growth visibility the coming years Short to mid-term targets • Revenue: Mid-single digit growth • EBIT margin: From 2024 EBIT margin of at least 25% and Core EBIT margin exceeding 30% Longer term outlook • Continuous profitable growth • Divide
Slide 25: Lundbeck has generated solid growth via organic and external opportunities
FY 2021: APPENDIX – CORPORATE STRATEGY Lundbeck has through its history generated solid growth via both organic and external opportunities Lundbeck revenue 1999 – 2022e (FY - DKKm) 2002 2007 2012 2017 2022e /mid- point) 25 Lundbeck
Slide 26: Prudent capital allocation into internal R&D and business development
FY 2021: APPENDIX – CORPORATE STRATEGY Our strength today is founded on prudent capital allocation into internal R&D and business development Internally developed In-licensed Acquired 2021 revenue 38% 15% 47% contribution Strategic products and - Rexulti, - Brintellix/Trintellix - Vyepti growth driv
Slide 27: Achieving our long-term ambition to be #1 in Brain Health
FY 2021: APPENDIX - CORPORATE STRATEGY Achieving our long-term ambition to be ”#1 in Brain Health”: Requires both internal and external innovation within our refined operating space • Internal innovation focused on four clusters of promising biologies • Business development priorities: • Late-stage
Slide 28: Migraine prevention represents a large and under served market
FY 2021: APPENDIX – VYEPTI (EPTINEZUMAB) Migraine prevention represents a large and under served market Migraine is divided into two major categories, episodic Addressable population and chronic depending on the frequency of headaches (major countries) ~135m – Migraine prevalence 1-14 headache days
Slide 29: Share of patients diagnosed and treated is increasing
FY 2021: APPENDIX – VYEPTI (EPTINEZUMAB) Share of patients that are diagnosed and treated is increasing – from 27% to 39% since September 2019 Migraine prevention market: 13.9m1, 2 Diagnosed, Untreated; Diagnosed, 47% untreated Breakout of 39% treated group Untreated, Preventive Treatment % of Use u
Slide 30: Vyepti: DELIVER phase IIIb study, headline results
FY 2021: APPENDIX – VYEPTI (EPTINEZUMAB) Vyepti: DELIVER phase IIIb study, headline results New hope also for patients suffering from migraine with prior preventive treatment failures Study details: • Efficacy and safety of Vyepti for the prevention of migraine in patients with unsuccessful prior pr
Slide 31: Vyepti: Positive headline results from the RELIEF study
FY 2021: APPENDIX – VYEPTI (EPTINEZUMAB) Vyepti: Positive headline results from the RELIEF study* Vyepti demonstrated… • statistical significance on the co-primary endpoints • all secondary endpoints were also statistically significant, including: • proportion of patients with pain freedom, and… • p
Slide 32: Vyepti: Phase III study for treatment of cluster headache
FY 2021: APPENDIX – VYEPTI (EPTINEZUMAB) Vyepti: Phase III study for treatment of cluster headache, a crippling pain with few effective medications currently available Cluster headache affects approximately one in 1,000 ALLEVIATE phase III study to evaluate Vyepti in people across the world episodic
Slide 33: Aripiprazole 2-Month formulation to be submitted mid-2022
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Aripiprazole 2-Month formulation to be submitted mid-2022: Potential to further maximize the franchise Aripiprazole 2-Month formulation: • PK-based bridging approach to establish similar exposure between aripiprazole 2- Month Ready to Use (RTU) formulation
Slide 34: Rexulti 2 mg/day potential treatment for agitation in Alzheimer's
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Data from the two studies suggest that Rexulti 2 mg/day has the potential to be an efficacious, safe and well-tolerated treatment for AAD Study 283: Fixed dose study Study 284: Flexible dose study (post hoc) Fast Track designation granted February Mean chan
Slide 35: Agitation affects some 50% of patients with dementia
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Agitation affects some 50% of patients with dementia and is an important predictor of institutionalization Delusions, hallucinations, aggression, and agitation ~80% of AAD** patients are in the community setting, affect 50% of patients with Alzheimer’s dise
Slide 36: Two studies in Rexulti pivotal program in PTSD ongoing
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Two studies in Rexulti pivotal program in PTSD ongoing Two studies initiated in the pivotal programme (phase III) Study objective1 Rexulti (fixed 2, 3mg and flexible dose up to 3mg) in combination To evaluate the efficacy, safety, and with sertraline tolera
Slide 37: Lu AF82422 in phase II for Multiple System Atrophy
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT UPDATE Lu AF82422 (anti alpha-synuclein mAb) in phase II for the devastating disease Multiple System Atrophy (MSA) MSA – a rare, aggressive, Mechanism of Action Innovative and adaptive development program disease with a high unmet medical need1 • Phase II b
Slide 38: Broad MAGLipase program initiated
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Broad MAGLipase program initiated Lu AG06466 Lu AG06474 • Inhibitor of the monoacylglycerol lipase • Peripherally restricted (MAGL) and selective modulator of the endocannabinoid system • Phase I study initiated in August 20215) • CNS penetrant Ongoing phas
Slide 39: Lu AF28996: A potentially new oral treatment for Parkinson's
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Lu AF28996: A potentially new oral treatment for Parkinson’s patients experiencing motor fluctuations D1/D2-type agonists Lu AF28996 Phase I studies: • Single- and sequential- Known to be highly efficacious A highly potent agonist at the D1- ascending-dose
Slide 40: Alzheimer's project with new MoAs in clinical development
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT Alzheimer’s project with new MoAs in clinical development Lu AF87908 • Tau mAb • Binding to and inhibition of pathological seeding form of Tau • Specific and pathology directed mAb • Retaining the capacity to mediate active clearance of Tau Ongoing phase I
Slide 41: Our four prioritized biological clusters
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT UPDATE Our four prioritized biological clusters have strong potential to deliver innovative therapies Circuitry / neuronal Protein aggregation, biology folding and clearance Targeting neurotransmission / synaptic dysfunction to restore Targeting neurodegene
Slide 42: Partnership with AprilBio provides a phase I-ready asset
FY 2021: APPENDIX – RESEARCH & DEVELOPMENT UPDATE Partnership with AprilBio provides a phase I-ready asset and accelerates the Lundbeck R&D strategy in Neuroimmunology Neuroinflammation / The CD40/40L biology pathway is a central mechanism in neuroimmunology regulating autoimmunity Targeting brain f
Slide 43: Lundbeck's climate actions recognized
FY 2021: APPENDIX – ESG UPDATE Lundbeck’s climate actions recognized • Following an agreement with Lundbeck, Better Energy have constructed a new solar park that was connected late 2021 • Consequently, Lundbeck’s electricity consumption in Denmark is now 100% matched by the solar park’s production •
Slide 44: The four strategic brands grew 18% in local currencies in 2021
FY 2021: APPENDIX – PRODUCT PERFORMANCE The four strategic brands grew 18% in local currencies in 2021 and constitute 57% of revenue • Strategic brands*: Up 18% in L.C. to Key brand revenue Lundbeck product diversity DKK 9.3 billion (up 15% reported) (FY 2021 – DKKm and L.C. growth) Sales by product
Slide 45: Robust performance across all three regions
FY 2021: APPENDIX – REGIONAL PERFORMANCE Robust performance across all three regions considering impact from pandemic and currency headwind North America revenue International Markets revenue Europe revenue (FY - DKKm) (FY - DKKm) (FY - DKKm) -16% 10,000 5,000 5,000 +2% 8,000 4,000 4,000 +5% Other O
Slide 46: Product distribution of revenue – Q4 2021 and FY 2021
FY 2021: APPENDIX – PRODUCT PERFORMANCE Product distribution of revenue – Q4 2021 and FY 2021 DKKm FY 2021 FY 2020 Q4 2021 Q4 2020 Growth Growth in local % of total currencies TOTAL: Abilify Maintena 2,420 2,271 610 542 13% 11% 15% Brintellix/Trintellix 3,526 3,102 961 794 21% 18% 22% Cipralex/Lexap
Slide 47: Continued excellence in commercial execution for the strategic brands
FY 2021: APPENDIX – PRODUCT PERFORMANCE Continued excellence in commercial execution for the strategic brands; impact from COVID-19 and FX +21% 1,000 +20% 800 North America -5% North America -1% 800 Europe+Int. Markets Europe+Int. Markets 600 600 400 400 200 200 0 0 Q4.18 Q4.19 Q4.20 Q4.21 Q4.18 Q4.
Slide 48: Volume growth in the U.S. impacted by the pandemic (TRx Count)
FY 2021: APPENDIX – PRODUCT PERFORMANCE Volume growth in the U.S. impacted by the pandemic (TRx Count) 125,000 +7% 800,000 +8% +17% +14% -3% -1% 100,000 600,000 75,000 400,000 50,000 200,000 25,000 0 0 Q4.18 Q4.19 Q4.20 Q4.21 Q4.18 Q4.19 Q4.20 Q4.21 300,000 +7% +68% +20% +4% 180 200,000 120 100,000
Slide 49: Volume growth in the U.S. impacted by the pandemic (NRx Count)
FY 2021: APPENDIX – PRODUCT PERFORMANCE Volume growth in the U.S. impacted by the pandemic (NRx Count) 50,000 +8% 400,000 +6% +15% -2% +2% +16% 25,000 200,000 0 0 Q4.18 Q4.19 Q4.20 Q4.21 Q4.18 Q4.19 Q4.20 Q4.21 200,000 120 +51% +8% +18% +5% 100,000 60 0 0 Q4.18 Q4.19 Q4.20 Q4.21 Apr Jun Aug Oct Dec
Slide 50: Total molecule sales (gross) - USDm
FY 2021: APPENDIX – PRODUCT PERFORMANCE Total molecule sales (gross) - USDm 1.250 1.600 1.000 +35% 1.200 750 +56% 800 500 250 400 0 0 2014 2015 2016 2017 2018 2019 2020 2014 2015 2016 2017 2018 2019 2020 • Abilify Maintena: U.S. approval (Feb. 2013); EU approval (Nov. 1.600 2013) 1.200 • Brintellix/
Slide 51: Europe – limited impact from COVID-19
FY 2021: APPENDIX – PRODUCT PERFORMANCE Europe – limited impact from COVID-19 Abilify Maintena Brintellix Rexulti (Monthly - Volume) (Monthly - volume) (Monthly - Volume) 1,800,000 19,000,000 100,000 1,750,000 90,000 18,000,000 1,700,000 17,000,000 80,000 1,650,000 1,600,000 16,000,000 70,000 1,550,
Slide 52: International Markets – Strong growth for Abilify Maintena and Rexulti
FY 2021: APPENDIX – PRODUCT PERFORMANCE International Markets – Strong growth for Abilify Maintena and Rexulti Abilify Maintena Brintellix/Trintellix Rexulti (Monthly - Volume) (Monthly - volume) (Monthly - Volume) 950,000 10,000,000 2,400,000 900,000 9,500,000 2,200,000 2,000,000 850,000 9,000,000
Slide 53: Vyepti: Robust uptake despite challenging environment
FY 2021: APPENDIX – PRODUCT PERFORMANCE Vyepti: Robust uptake despite challenging environment • Grew 429% (446% in L.C.) to Vyepti sales Vyepti sales (Quarterly - DKKm) (FY – DKKm) DKK 492 million in FY 2021 • Grew 222% (212% in L.C.) to 200 700 DKK 164 million in Q4 2021 +222% +429% • Vyepti share
Slide 54: Brintellix/Trintellix: Solid underlying performance
FY 2021: APPENDIX – PRODUCT PERFORMANCE Brintellix/Trintellix: Solid underlying performance driven by strong clinical profile • Grew 16% (L.C.) to DKK 3,526 Brintellix/Trintellix sales per region Brintellix/Trintellix (Quarterly - DKKm) (FY – DKKm) million in FY 2021 and 18% (L.C.) in Q4 2021 1,200
Slide 55: Rexulti: Growing 14% in several new markets
FY 2021: APPENDIX – PRODUCT PERFORMANCE Rexulti: Growing 14% – an effective drug that is meeting patient needs in several new markets Rexulti sales per region** Rexulti sales** • Grew 14% in L.C. to DKK 2,849 (Quarterly - DKKm) (FY - DKKm) million in FY 2021 • Continued solid traction in market 800
Slide 56: Abilify Maintena: Growing 7%
FY 2021: APPENDIX – PRODUCT PERFORMANCE Abilify Maintena: Growing 7% • Grew 8% (L.C.) to DKK 2.4bn in FY Abilify Maintena sales per region** Abilify Maintena 2021 and 13% in Q4 2021 (Quarterly - DKKm) (FY – DKKm) • Global LAI market up 8% to USD 6bn (FY 2021)* 800 3,000 Europe • Continued robust tra
Slide 57: Cipralex/Lexapro: Adjusted for FX, sales grew 3%
FY 2021: APPENDIX – PRODUCT PERFORMANCE Cipralex/Lexapro: Adjusted for FX, sales grew 3% • Declined 1% (up 3% in L.C.) to Cipralex/Lexapro Cipralex/Lexapro DKK 2,346 million in FY 2021 (Quarterly - DKKm) (FY – DKKm) • Increased 5% (6% in L.C.) to DKK 900 3,000 Europe North America 511 million in Q4
Slide 58: Sabril: Sales impacted by generic erosion
FY 2021: APPENDIX – PRODUCT PERFORMANCE Sabril: Sales impacted by generic erosion from Q3 2017 • Declined 15% (11% in L.C.) to Sabril sales Sabril sales (Quarterly - DKKm) (FY – DKKm) DKK 657 million in FY 2021 • Declined 12% (15% in L.C.) to 300 1,000 DKK 170 million in Q4 2021 -15% -12% 150 500 0
Slide 59: Northera: Sales impacted by generic erosion
FY 2021: APPENDIX – PRODUCT PERFORMANCE Northera: Sales impacted by generic erosion from February 2021 • Declined 74% (72% in L.C.) to Northera sales Northera sales (Quarterly - DKKm) (FY – DKKm) DKK 665 million in FY 2021 • Declined 81% (82% in L.C.) to 900 3,000 -74% DKK 129 million in Q4 2021 2,5
Slide 60: Onfi: Sales impacted by generic erosion
FY 2021: APPENDIX – PRODUCT PERFORMANCE Onfi: Sales impacted by generic erosion from October 2018 • Declined 21% (17% in L.C.) to Onfi sales Onfi sales (Quarterly - DKKm) (FY – DKKm) DKK 505 million in FY 2021 • Declined 21% (22% in L.C.) to 400 1,500 DKK 123 million in Q4 2021 300 1,000 200 -21% -2
Slide 61: Other pharmaceuticals
FY 2021: APPENDIX – PRODUCT PERFORMANCE Other pharmaceuticals • Declined 11% (10 % in L.C.) to Other pharmaceuticals Other pharmaceuticals DKK 2,439 million in FY 2021 (Quarterly - DKKm) (FY – DKKm) • Declined 4% (+5% in L.C.) to DKK 900 3,600 537 million in Q4 2021 • Around 15 mature products -4% 2
Slide 62: Other revenue
FY 2021: APPENDIX – PRODUCT PERFORMANCE Other revenue • Declined 29% (28% in L.C.) to Other revenue Other revenue (Quarterly - DKKm) (FY – DKKm) DKK 349 million in FY 2021 • Unchanged (1% in L.C.) at 300 750 DKK 136 million in Q4 2021 • Mostly contract manufacturing -29% 500 to utilize excess capaci
Slide 63: Regional performance impacted by FX headwinds and generic erosion
FY 2021: APPENDIX – REGIONAL PERFORMANCE Regional performance impacted by FX headwinds and generic erosion Regional growth Sales by region* • North America still impacted by generic erosion, impact from (FY 2021 – DKKm and in L.C. %) (FY 2021) COVID-19 and FX • International Markets shows North Amer
Slide 64: Core operating profit maintained at robust level
FY 2021: APPENDIX – FINANCIAL PERFORMANCE Core operating profit maintained at robust level FY 2021 FY 2021 core EBIT reconciliation (DKKm) 3,517 • Core EBIT reached DKK 3,517 million in FY 2021 0 233 1,274 • Amortizations decreased from DKK 1,548 million 2,010 to DKK 1,274 million due to Northera Lo
Slide 65: Solid financial foundation from which to execute on our strategy
FY 2021: APPENDIX – FINANCIAL PERFORMANCE Solid financial foundation from which to execute on our strategy Net debt and Net debt/EBITDA* (FY - DKKm) 8,000 1.2 • FY 2022: Cash flow negatively impacted by: 6,635 6,000 • Significant milestone payment for EMA 0.8 approval of Vyepti 4,000 3,677 Net debt
Slide 66: Cash position, funding and debt maturity
FY 2021: APPENDIX – FINANCIAL PERFORMANCE Cash position, funding and debt maturity • A diversified and long term balanced debt portfolio is a priority to Debt maturity profile Lundbeck (EURm equivalent) • This includes access to various funding sources as well as a 1,500 balanced maturity profile to
Slide 67: 2021 impacted by depreciation of main currencies
FY 2021: APPENDIX – FINANCIAL PERFORMANCE 2021 impacted by depreciation of main currencies FY 2021 sales by currency Main currencies** Spot Lundbeck’s Avg. Avg. Avg. Avg. (January 1, 2020 = index 100) Jan. 28, hedging rate H1 2020 H2 2020 H1 2021 H2 2021 113 Other* 2022 EUR 109 USD 666.84 634 677.47
Slide 68: Cash generation
FY 2021: APPENDIX – FINANCIAL PERFORMANCEE Cash generation DKKm Q4 2021 Q4 2020 FY 2021 FY 2020 FY 2019 Cash flows from operating activities 424 1,182 2,313 3,837 2,609 Cash flows from investing activities (319) (140) (651) (467) (7,755) Cash flows from operating and investing 105 1,042 1,662 3,370
Slide 69: Financial position and dividend
FY 2021: APPENDIX – FINANCIAL PERFORMANCE Financial position and dividend Dividend (DKK) 15 5% Dividend DKKm 31.12.2021 31.12.2020 12 4% Yield (r.h.s.) Intangible assets 22,750 22,738 9 3% Other non-current assets 3,291 3,186 Current assets 8,612 10,105 6 2% Assets 34,653 36,029 3 1% Equity 18,279 1
Slide 70: Costs – Full year figures
FY 2021: APPENDIX – FINANCIAL PERFORMANCE Costs – Full year figures DKKm 2021 2020 2019 2021 (∆%) 2020 (∆%) Revenue 16,299 17,672 17,036 (8%) 4% Cost of sales 3,648 4,166 3,840 (12%) 8% Sales & Distribution costs 5,885 5,946 5,514 (1%) 8% Administrative expenses 933 966 899 (3%) 7% R&D costs 3,823 4
Slide 71: For more information, please contact Investor Relations
INVESTOR RELATIONS For more information, please contact Investor Relations IR contact • Listed on the Copenhagen Stock Number of shares1 199,148,222 Exchange since June 18, 1999 Treasury shares1 502,115 (0.25%) Palle Holm Olesen Insider holdings1 156,348 (0.08%) VP; Head of Investor Relations • Deut