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Key Financials

FY2021 (31 December 2021), if not indicated otherwise

For detailed information, download the annual reports in our download center.

 

8 years of strong growth: Continued investment in innovation to deliver growth


 

Guidance

Based on UCB’s current assessment of the COVID-19 pandemic, UCB remains confident in the fundamental underlying demand for its products and its prospects for long-term growth. UCB will continue to closely follow evolving COVID-19 pandemic diligently to assess potential near- and mid-term challenges.

The figures of the guidance 2022 and 2025 as mentioned below were calculated on the same basis as the actual figures for 2021. The financial guidance 2022 will be updated upon closing of the planned Zogenix, Inc. acquisition.

Upcoming Report

2022 Half-Year Results

More information closer to the date

2022 Revenue

€ 5.15 - 5.4 billion

based on continued core product growth and taking into account loss of exclusivity impacts

2022 adj. EBITDA 

26% - 27%

reflecting the continued high R&D and marketing & selling investment levels

2022 Core EPS

€ 4.80 - € 5.30

based on an average of 189 million shares outstanding

2025 Revenue

at least € 6 billion

2025 adj. EBITDA

Low- to mid-thirties

2025 Improved ESG

rating performance


 

Product Sales

Strong underlying net sales growth thanks to a resilient product portfolio & new launches.

NAYZILAM® only available in the U.S., EVENITY® sales outside of Europe reported by Amgen

VIMPAT® peak sales guidance

≥ € 1.5 billion by 2022

achieved

CIMZIA® peak sales guidance

≥ € 2 billion by 2024

BRIVIACT® peak sales guidance

≥ € 600 million in 2026


 

Cash Flows

The evolution of cash flow generated by bio-pharmaceutical activities is affected by the following:

  • Cash flow from operating activities amounted to € 1 553 million, all related to continuing operations, compared to € 1 081 million in 2020. The cash inflow stems
    from underlying net profitability, deferred income related to partnerships, higher outstanding payables in the last quarter, offset with higher receivables after a strong Q4 2021 and taxes paid.
  • Cash flow from investing activities showed an outflow of € 487 million from  continuing operations, compared to € 2 228 million in 2020 and includes tangible (€ 282 million) and intangible (€ 211 million) capital expenditures, investments in venture funds, offset with the sale of non-core assets.
  • Cash flow from financing activities had an outflow of € 1 119 million, mainly including the issuance of an € 500 million senior unsecured bond, offset with the repayment of institutional Eurobonds (€ 700 million), repayment of bank borrowings (€ 512 million), the dividend paid to UCB shareholders (€ 240 million), the  acquisition of treasury shares (€ 60 million) and interest payments.

 

Debt Financing

Net financial debt of € -860 million as per end December 2021 compared to net financial debt of € -1 411 million as of end December 2020, mainly relates to the underlying net profitability, offset by the dividend payment on the 2020 results and the acquisition of own shares. The net debt to adjusted EBITDA ratio for 2021 is 0.52.

UCB has established a Euro Medium Term Note (EMTN) Program> for its long-term funding needs which enables UCB to issue unsecured bonds with a tenor of minimum 1 year within a € 5 billion program.

Debt financing

As from 2009 UCB successfully implemented a debt diversification and refinancing strategy. The company issued bonds that are outstanding bonds per 31 December 2021:

In addition to these bonds, UCB entered into a USD 2.07 billion bullet floating rate syndicated term loan maturing in 2025, in connection with the acquisition of Ra Pharmaceuticals, Inc and of which USD 1 315 billion remained outstanding on 31 December 2021.