65 slides from H. Lundbeck A/s Class A's earnings presentation, May 10, 2023
Slide 1: Financial results and business update Q1 2023
10 MAY 2023 Financial results and business Yoshifumi Kobayashi Living with depression update Q1 2023
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: Q1 2023 performance overview and highlights
Q1 2023: Business update Q1 2023 performance overview and highlights Excellent Strategic brands Robust profit growth, Pipeline revenue deliver strong while investing for continues to performance double-digit growth growth progress DKK 5.0bn DKK 3.3bn DKK 1.8bn Abilify Asimtufii Highest quarter ever
Slide 4: Strategic brands powering growth across the portfolio
Q1 2023: Business update Strategic brands powering growth across the portfolio Reported geographical revenue split* Reported product revenue split* (Q1 2023) (Q1 2023) DKKm DKKm 6,000 6,000 Strategic brands Europe +11% Mature brands +11% International Markets 5,000 5,000 United States 4,000 4,000 +1
Slide 5: Vyepti: Strong growth in the U.S.
Q1 2023: Business update Vyepti: Strong growth in the U.S. U.S. Vyepti demand* U.S. revenue U.S. continues growth trajectory (weekly - vials) (DKK) • Preventive market share continues to grow in the U.S. achieving 5.8%** DKK 328m • Growth from both existing and the addition of new prescribers +87% •
Slide 6: Vyepti: Global rollout progressing as planned
Q1 2023: Business update Vyepti: Global rollout progressing as planned Vyepti performance* RoW revenue Global sales close to doubled in Q1 2023 (volume market share) (DKK) • DKK 351m (+97%) driven by strong % demand 10 DKK 23m Strong adoption across new markets • Launched in five markets year-to-dat
Slide 7: Brintellix/Trintellix driven by accelerating growth in Europe
Q1 2023: Business update Brintellix/Trintellix driven by accelerating growth in Europe Europe continue accelerated growth trajectory • Sales driven by outstanding performance +7% DKK 1,077m DKK 990m in Spain and Italy +22% Excellent development of sales in International Markets • Growth mainly drive
Slide 8: Demand growth driving strong sales for Rexulti
Q1 2023: Business update Demand growth driving strong sales for Rexulti U.S. Rexulti demand* Global revenue Strong growth momentum in the U.S. (Monthly - TRx) (DKK) continues... • MDD is the main growth driver 115,000 DKK 1,060m • Strong execution together with effective +22% DTC drive demand growth
Slide 9: Abilify Maintena delivered solid growth in U.S., Canada and Europe
Q1 2023: Business update Abilify Maintena delivered solid growth in U.S., Canada and Europe Global LAI sales and Abilify Strong growth in Q1 2023 Global revenue Maintena MS% (DKK) (Quarterly – USD and %) • Growth driven mainly by the U.S., Italy and Canada USDm % DKK 785m 30 +14% 1,600 DKK 677m Stro
Slide 10: Delivering late-stage LCM, advancing and building pipeline
Q1 2023: R&D update Delivering late-stage LCM, advancing and building pipeline • Aripiprazole 2-month RTU: • Abilify Asimtufii approved in the U.S. • Regulatory submission in Canada, awaiting approval • Due to a CHMP procedural objection (unrelated to product quality or safety), the MAA to EMA has b
Slide 11: Abilify Asimtufii approved by FDA
Q1 2023: APPENDIX Abilify Asimtufii approved by FDA: Important news for patients, families, and healthcare providers • The only approved 2-month LAI that offers sustained durability of effect in both schizophrenia and bipolar I disorder • The approval is based on a 32-week pharmacokinetic bridging s
Slide 12: FDA advisory committee voted that brexpiprazole AAD program has provided sufficient supportive data
Q1 2023: R&D update FDA advisory committee voted that brexpiprazole AAD program has provided sufficient supportive data The FDA PD AdCom discussed three questions: Data support improved patient and caregiver outcomes – 5-point reduction in CMAI total score • Overall benefit/risk assessment Outcome P
Slide 13: Anti-PACAP ('222) holds the potential to be first-in-class
Q1 2023: R&D update Anti-PACAP (‘222) holds the potential to be first-in-class, with a new approach to migraine prevention Molecule addressing a novel mechanism of action Anti-PACAP humanized IgG1 antibody ▪ The PACAP biology provides a new approach to migraine prevention and potential in other pain
Slide 14: Positive results of the anti-PACAP phase II proof of concept trial
Q1 2023: R&D update Positive results of the anti-PACAP (‘222) phase II clinical proof of concept trial: New "HOPE" for migraine patients • HOPE trial showed a statistically significant (p=0.01) reduction in the number of Promising clinical monthly migraine days for patients treated with ‘222 (anti-P
Slide 15: Lundbeck's R&D pipeline is substantially transformed
Q1 2023: R&D update Lundbeck's R&D pipeline is substantially transformed Biology Project Area Phase I Phase II Phase III Filing/launch Transforming R&D 1) 2) organization in place Eptinezumab (anti-CGRP mAb) Migraine prevention SUN-studies SUN-studies PROMISE PROMISE 11 & & 22 focused on four biolog
Slide 16: Exceptional revenue and profit growth
Q1 2023: Financial update Exceptional revenue and profit growth Key figures Comments DKKm Q1 2023 Q1 2022 Δ Δ CER • Revenue growth driven by strong Revenue 5,044 4,372 +15% +11%* performance of strategic brands Gross margin 79.4% 80.7% (1.3pp) Adj. gross margin 90.6% 89.1% +1.5pp • Gross margin nega
Slide 17: Adjusted EPS growth in line with underlying performance
Q1 2023: Financial update Adjusted EPS growth in line with underlying performance Net profit & EPS Comments DKKm Q1 2023 Q1 2022 Δ • EBIT growth of +41% (+35% CER) EBIT 1,233 875 +41% (in % of revenue) 24.4% 20.0% +4.4pp • Net financial, expenses declined as Net financials, expenses 83 347 (76%) the
Slide 18: Solid operational cash flow while also investing for growth
Q1 2023: Financial update Solid operational cash flow while also investing for growth Cash flows Comments DKKm Q1 2023 Q1 2022 EBIT 1,233 875 • EBIT growth drives stronger operational cash flow Adjustments for non-cash items 623 348 Change in working capital (1,361) (879) • Changes in working capita
Slide 19: 2023 financial guidance reconfirmed and transitioned to Adjusted EBITDA
Q1 2023: Financial update 2023 financial guidance reconfirmed and transitioned to Adjusted EBITDA FY 2023 financial guidance Revenue FY 2022 Former 2023 Updated 2023 • Continued solid growth of Abilify Maintena, DKKbn actual guidance guidance* Brintellix/Trintellix and Rexulti Revenue 18.2 19.4 – 20
Slide 20: Lundbeck priorities for 2023 and beyond
Q1 2023: SUM-UP Lundbeck priorities for 2023 and beyond Continue to deliver Maximize Driving innovation solid financial strategic and advancing performance brands R&D pipeline Committed to • Highest revenue ever • Accelerating and • Positive phase II PoC HLR deliver achieved in a quarter globalizing
Slide 21: Q&A
Q&A 21 Lundbeck
Slide 22: Appendix
Appendix 22 Lundbeck
Slide 23: Product distribution of revenue – Q1 2023 and FY 2022
Q1 2023: APPENDIX Product distribution of revenue – Q1 2023 and FY 2022 DKKm FY 2022 FY 2021 Q1 2023 Q1 2022 Growth Growth % of total CER (Q1 2023) Brintellix/Trintellix 4,277 3,526 1,077 990 9% 7% 21% Rexulti/Rxulti 3,890 2,849 1,060 831 28% 22% 21% Abilify Maintena 2,964 2,420 785 677 16% 14% 16%
Slide 24: Total molecule sales (gross) - USDm
Q1 2023: APPENDIX Total molecule sales (gross) - USDm 1.500 2.000 1.250 +29% 1.600 1.000 +43% 1.200 750 800 500 250 400 0 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2014 2015 2016 2017 2018 2019 2020 2021 2022 2.000 Abilify Maintena: U.S. approval (Feb. 2013); EU approval (Nov. 2013) 1.600 +67%
Slide 25: Volume growth in the U.S. robust, but Trintellix still impacted by post-pandemic effects
Q1 2023: APPENDIX Volume growth in the U.S. robust, but Trintellix still impacted by post-pandemic effects (NRx Count) 75,000 400,000 -6% +4% -3% +10% +14% 50,000 -1% 200,000 25,000 0 0 Q1.18 Q1.19 Q1.20 Q1.21 Q1.22 Q1.23 Q4.18 Q1.20 Q1.21 Q1.22 Q1.23 +36% 200,000 +16% 400 +13% 0% +83% 100,000 200 0
Slide 26: Volume growth in the U.S. robust for Abilify Maintena, Rexulti and Vyepti
Q1 2023: APPENDIX Volume growth in the U.S. robust for Abilify Maintena, Rexulti and Vyepti (TRx Count) +8% +13% 125,000 800,000 +2% -8% +3% -4% 100,000 600,000 75,000 400,000 50,000 200,000 25,000 0 0 Q1.18 Q1.19 Q1.20 Q1.21 Q1.22 Q1.23 Q1.18 Q1.19 Q1.20 Q1.21 Q1.22 Q1.23 400,000 800 +47% +15% +12%
Slide 27: Strategic brands powering growth across the portfolio
Q1 2023: APPENDIX Strategic brands powering growth across the portfolio Geographical revenue split* Strong growth from strategic brands** 6,000 +14% growth 23% 23% 4,000 DKKm +16% growth 44% Q1 +19% 47% Q1 2022 2023 2,000 65% 60% 33% 30% +3% growth 0 Q1 2022 Q1 2023 United States International Marke
Slide 28: Strong strategic brands growth globally
Q1 2023: APPENDIX Strong strategic brands growth globally United States International Markets Europe Solid +16% +3% +14% underlying growth in U.S., Europe and International Markets driven by demand Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Strategic brands Strategic brands Strategic brands up
Slide 29: Strategic brands are major revenue contributors, continuing strong growth momentum
Q1 2023: APPENDIX Strategic brands are major revenue contributors, continuing strong growth momentum Strategic brands* revenue (Quarterly - DKKm) +19% (+23% reported) Strategic brands sales growth Europe International Markets United States 4,000 +23% DKK 3.3bn Global Lundbeck sales in Q1 2023 report
Slide 30: Vyepti: Strong uptake continues
Q1 2023: APPENDIX Vyepti: Strong uptake continues Grew 97% (+106% reported) and reached DKK 0.4bn in Q1 2023 Vyepti sales Vyepti sales (Quarterly - DKKm) (FY – DKKm) Launched in the U.S., Australia, 400 1,250 Canada, Denmark, Estonia, Finland, +106% reported +104% Germany, Kuwait, Singapore, Sweden,
Slide 31: Brintellix/Trintellix: Solid underlying performance driven by strong clinical profile
Q1 2023: APPENDIX Brintellix/Trintellix: Solid underlying performance driven by strong clinical profile Brintellix/Trintellix sales per region Brintellix/Trintellix (Quarterly - DKKm) (FY – DKKm) Grew 7% (+9% reported) and reached DKK 1.1bn in Q1 2023 1,500 6,000 Europe United States Europe United S
Slide 32: Rexulti: Growing 28% – an effective drug that is meeting patient needs
Q1 2023: APPENDIX Rexulti: Growing 28% – an effective drug that is meeting patient needs Rexulti sales per region* Rexulti sales* Grew 22% (+28% reported) to (Quarterly - DKKm) (FY - DKKm) DKK 1.1bn in Q1 2023 1,500 4,500 Other regions Other regions +37% reported Continued solid traction United Stat
Slide 33: Abilify Maintena: Growing 16% in Q1 2023
Q1 2023: APPENDIX Abilify Maintena: Growing 16% in Q1 2023 Grew 14% (+16% reported) to DKK 0.8bn in Q1 2023 Abilify Maintena sales per region** Abilify Maintena** (Quarterly - DKKm) (FY – DKKm) Global LAI market up 1.3% 1,050 Europe United States 4,000 Europe United States to USD 1.6bn (Q1 2023)* In
Slide 34: Cipralex/Lexapro: Continue stable performance
Q1 2023: APPENDIX Cipralex/Lexapro: Continue stable performance Cipralex/Lexapro Cipralex/Lexapro Down 3% (-3% reported) reaching (Quarterly - DKKm) (FY– DKKm) DKK 0.7bn in Q1 2023 900 3,000 Europe International Markets Europe International Markets +1% reported -3% 2,500 The biggest markets are repo
Slide 35: Sabril: Sales impacted by generic erosion from Q3 2017
Q1 2023: APPENDIX Sabril: Sales impacted by generic erosion from Q3 2017 Sabril sales Sabril sales (Quarterly - DKKm) (FY– DKKm) 250 800 -3% reported 200 Down 31% (-28% reported) to DKK -28% reported 0.1bn in Q1 2023 600 150 Down 14% (-3% reported) to DKK 100 0.6bn in 2022 400 50 0 200 Q1.20 Q1.21 Q
Slide 36: Onfi: Sales impacted by generic erosion from October 2018
Q1 2023: APPENDIX Onfi: Sales impacted by generic erosion from October 2018 Onfi sales Onfi sales (Quarterly - DKKm) (FY – DKKm) 200 700 Grew 72% (+82% reported) to DKK 0.2bn in Q1 2023 +82% at reported -16% at reported Down 25% (-16% reported) to 100 350 DKK 0.4bn in 2022 Onfi included in Other pha
Slide 37: Other pharmaceuticals
Q1 2023: APPENDIX Other pharmaceuticals Grew 6% (+8% reported) to DKK 1.0bn in Q1 2023 Other pharmaceuticals Other pharmaceuticals (Quarterly - DKKm) (FY – DKKm) Down 11% (-5% reported) to DKK 3.0bn in 2022 2,000 6,300 5,400 Around 15 mature products included 1,500 4,500 -5% Biggest products are Azi
Slide 38: Other revenue
Q1 2023: APPENDIX Other revenue Other revenue Other revenue (Quarterly - DKKm) (FY – DKKm) Down 5% (-3% reported) to DKK 500 150 63m in Q1 2023 -20% reported Down 22% (-20% reported) to -3% reported DKK 277m in 2022 250 Mostly contract manufacturing to third-party 0 0 Q1.20 Q1.21 Q1.22 Q1.23 2020 20
Slide 39: Brexpiprazole offers an exciting treatment option for patients with Agitation in Alzheimer's Dementia
Q1 2023: APPENDIX Brexpiprazole offers an exciting treatment option for patients with Agitation in Alzheimer’s Dementia (AAD) Prevalence of AAD in community Agitation is a substantial medical challenge for patients living dwelling setting by severity level** with Alzheimer’s Disease and their caregi
Slide 40: Brexpiprazole offers an exciting treatment option for agitation associated with dementia due to Alzheimer's
Q1 2023: APPENDIX Brexpiprazole offers an exciting treatment option for patients with agitation associated with dementia due to Alzheimer’s Primary Endpoint: Change from Baseline in Key Secondary Endpoint: Change from CMAI Total (MMRM) (Study 213) Baseline in CGI-S score (MMRM) (Study 213) An estima
Slide 41: Brexpiprazole demonstrated efficacy on both primary (CMAI) and key secondary (CGI-S) endpoints
Q1 2023: APPENDIX Brexpiprazole demonstrated efficacy on both the primary (CMAI) and key secondary (CGI-S) endpoints at Week 12 Primary Endpoint: Change from Baseline in CMAI Key Secondary Endpoint: Change from Baseline in Total (MMRM) (Study 213) CGI-S score (MMRM) (Study 213) 0 2 4 6 8 10 12 0 2 4
Slide 42: Both 2 mg and 3 mg doses showed statistically significant improvements vs. placebo on the CMAI
Q1 2023: APPENDIX Both 2 mg and 3 mg doses showed statistically significant improvements vs. placebo on the CMAI Study 213: Fixed dose study Mean change from baseline in CMAI Total score by dose 0 2 4 6 8 10 12 0 2 4 6 8 10 12 0 0 -4 -4 -8 -8 -12 -12 -16 -16 -20 p=0.024 -20 Placebo (n=116) ** ** Pla
Slide 43: The efficacy of brexpiprazole in study 213 was consistent with prior studies 283 and 284
Q1 2023: APPENDIX The efficacy of brexpiprazole in study 213 was consistent with the prior studies 283 and 284 Study 283: Fixed dose study Study 284: Flexible dose study (post hoc) Study 213: Fixed dose study Mean change from baseline Mean change from baseline Mean change from baseline in CMAI Total
Slide 44: Brexpiprazole was generally well-tolerated and no new safety signals were observed
Q1 2023: APPENDIX Brexpiprazole was generally well-tolerated and no new safety signals were observed Study 213: Adverse events 2% % Patients 0 2 4 6 8 10 Brexpiprazole 3 mg (n=153) Asthenia Brexpiprazole 2 mg (n=73) The only TEAEs with more than 5% incidence in All brexpiprazole (n=226) patients tr
Slide 45: Brexpiprazole, in combination with sertraline, is being evaluated in two phase III PTSD trials
Q1 2023: APPENDIX Brexpiprazole, in combination with sertraline, is being evaluated in two phase III PTSD trials High unmet need in Post-traumatic Exploratory PoC study in PTSD4 Phase III program Stress Disorder (PTSD) suggested effects of brexpiprazole Study #1: Flexible-dose study5 in combination
Slide 46: Migraine prevention represents a large and underserved market
Q1 2023: APPENDIX Migraine prevention represents a large and underserved market Migraine is divided into two major categories, episodic and Addressable population chronic depending on the frequency of headaches (major countries) 1-14 headache days >14 headache days per month per month ~135m – Migrai
Slide 47: Vyepti: Moving into new frontiers; adapting based on learnings
Q1 2023: APPENDIX Vyepti: Moving into new frontiers; adapting based on learnings US & Europe Asia program Well-established effect China: New insights Japan: Unknown effect PROMISE I/II SUNLIGHT SUNRISE SUNSET RELIEF • China, Europe, Korea • Japan, China, Europe, Korea • MOH in chronic migraine • Chr
Slide 48: Vyepti: Phase III study for treatment of cluster headache
Q1 2023: APPENDIX 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 people across the world ALLEVIATE phase III study to evaluate eptinezumab in episodic Cluster Headache
Slide 49: Lu AF28996: A potentially new oral treatment for Parkinson's
Q1 2023: APPENDIX 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 of Lu AF28996 to even in
Slide 50: Lu AF82422 in phase II - Multiple System Atrophy
Q1 2023: APPENDIX Lu AF82422 in phase II - Potential first therapy delaying disease progression in Multiple System Atrophy Medical condition Alpha-synucleinopathies: Multiple System Atrophy – A rare, aggressive, disease with a high unmet medical need Molecule Anti alpha-synuclein IgG1 antibody – Bin
Slide 51: Anti CD40L ('515) – first neuroimmunology program progressing in phase I
Q1 2023: APPENDIX Anti CD40L (‘515) – first neuroimmunology program progressing in phase I Medical condition Immune-mediated nervous system disorders Molecular structure of Lu AG22515 (scFv)2-Fab fusion Molecular weight 100 kDA Molecule Anti-CD40L Anti-CD40L Differentiated anti-CD40L antibody-like
Slide 52: Anti-ACTH mAb ('909): First neurohormonal program started clinical development
Q1 2023: APPENDIX Anti-ACTH mAb (‘909): First neurohormonal program started clinical development HPA axis Medical condition Neurohormonal dysfunctions related to HPA axis Molecule Anti-ACTH humanized IgG1 antibody – First in class mAb with potential to offer a safe and efficacious treatment alternat
Slide 53: Broad MAGLipase program ongoing
Q1 2023: APPENDIX Broad MAGLipase program ongoing Lu AG06466 Inhibitor of the monoacylglycerol lipase (MAGL) and selective modulator of the endocannabinoid system CNS penetrant Phase Ib study • PTSD (n=35) completed Q1 20231) Lu AG06474 • Peripherally restricted • Phase I study initiated in August 2
Slide 54: Focus on promising biology
Q1 2023: APPENDIX Focus on promising biology Selected four biology clusters feeding into our strategy Scientifically well-described areas still rich in targets with untapped potential High feasibility for early de-risking and maintaining a competitive edge Circuitry / neuronal biology Well-establish
Slide 55: EBIT and Adjusted EBITDA – Q1 2023
Q1 2023: APPENDIX EBIT and Adjusted EBITDA – Q1 2023 Change DKKm Q1 2023 Q1 2022 Change (CER) Revenue 5,044 4,372 15% 11%* Gross profit 4,003 3,527 13% 11% thereof adjustments 101 - - - thereof depreciation/amortization 464 368 26% 24% Sales and distribution costs 1,673 1,435 17% 15% thereof depreci
Slide 56: Historical Core EBIT vs Adjusted EBITDA reconciliation
Q1 2023: APPENDIX Historical Core EBIT vs Adjusted EBITDA reconciliation Full Year 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 DKKm Reported Adjusted Core Result Reported Adjusted Core Result Reported Adjusted Core Result Reported Adjusted Core Result Reported Adjusted Core Result Revenue 18,246 18,246 18,
Slide 57: Overall Adjusted EBITDA reconciliation
Q1 2023: APPENDIX Overall Adjusted EBITDA reconciliation DKKm Full Year 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Historical Profit from operations (EBIT) 2,852 875 622 952 403 Amortization of product rights 1,371 309 315 347 400 Restructuring expenses -138 - -48 - -90 Other adjustments 70 - - - 70 Histo
Slide 58: 2022 and Q1 2023 impacted by appreciation of main currencies
Q1 2023: APPENDIX 2022 and Q1 2023 impacted by appreciation of main currencies FY 2022 sales by currency Main currencies** (January 1, 2022 = index 100) EUR Other* 120 17% Spot Hedge Avg. Avg. Avg. Avg. 21% Mar rate rate rate rate rate 115 31, YTD YTD FY Q1 Q1 2023 2023 2023 2022 2023 2022 110 CAD 5
Slide 59: Lundbeck is well-positioned through its strong balance sheet
Q1 2023: APPENDIX Lundbeck is well-positioned through its strong balance sheet Assets (DKKbn) Liabilities (DKKbn) 37.5 36.6 37.5 36.6 Inventories 4.1 4.0 Current liabilities 8.2 7.4 Receivables 3.8 4.2 Cash and bank balances 3.6 2.9 4.8 Bank and bond debt 5.1 Other non-current assets 3.5 3.5 Other n
Slide 60: Financial position and dividend
Q1 2023: APPENDIX Financial position and dividend DKKm 31.03.2023 31.12.2022 Dividend (DKK) Intangible assets 22,006 22,500 Dividend Yield (r.h.s.) 3 5% Other non-current assets 3,484 3,540 4% Current assets 11,134 11,412 Assets 36,624 37,452 3% Equity 20,980 20,779 2% Non-current liabilities 8,198
Slide 61: Cash generation
Q1 2023: APPENDIX Cash generation DKKm Q1 2023 Q1 2022 FY 2022 FY 2021 FY 2020 Cash flows from operating activities 378 (205) 3,519 2,272 3,837 Cash flows from investing activities (77) (1,163) (1,892) (610) (467) Cash flows from operating and investing 301 (1,368) 1,627 1,662 3,370 activities (free
Slide 62: Solid financial foundation from which to execute on our strategy
Q1 2023: APPENDIX Solid financial foundation from which to execute on our strategy Net debt and Net debt/EBITDA Net debt (FY - DKKm) Net debt/EBITDA 8,000 1.6 6,635 6,000 FY 2023: Cash flow negatively impacted by 1.2 • Dividend increase from DKK 397m to DKK 576m 4,000 0.8 • CAPEX investments 2,000 0
Slide 63: Funding and debt maturity
Q1 2023: APPENDIX Funding and debt maturity Debt maturity profile (EURm equivalent) A diversified and long-term balanced debt portfolio is a priority to Lundbeck 1,500 This includes access to various funding sources as well as a balanced maturity profile to support the Expand and Invest to Grow stra
Slide 64: Solid growth in revenue and Adjusted EBITDA expected to continue over the mid-term
Q1 2023: APPENDIX Solid growth in revenue and Adjusted EBITDA expected to continue over the mid-term Revenue performance (DKKbn) Expected organic development towards mid-term aspiration (3-4 years) Mid-single • Continued double-digit growth for strategic digit CAGR brands in aggregate • Slight erosi
Slide 65: For more information, please contact Investor Relations
Q1 2023: APPENDIX For more information, please contact Investor Relations Number of A-shares 199,148,222 IR contact Number of B-shares 796,592,888 Total 995,741,110 Palle Holm Olesen Listed on the Copenhagen Stock Treasury A shares 466,028 VP; Head of Investor Relations Exchange since June 18, 1999