2018 marks the fifth consecutive year of profitable growth
Posted byAntje Witte, Investor Relations
Our full-year results are now out, allow me to highlight some of the key points. What stood out to me was consistent growth in recent years and our research and development investments in the future.
UCB’s strong delivery in 2018 marked the fifth year of profitable growth in a row. Revenue in 2018 reached €4.6 billion, an increase of 2% (or 5% at constant exchange rates (CER)).
Net sales increased to €4.4 billion – a rise of 5% (or 8% CER). This was driven by our core products, sales of which rose 6% (10% CER). This helped the company’s underlying profitability (rEBITDA) to increase to € 1,398 million: up 2% (5% CER).
We are also pleased to share our financial outlook for 2019. This year, revenue is expected to be in the range of € 4.6 - 4.7 billion, with recurring EBITDA in the range of 27% - 29% of revenue, reflecting higher R&D investments.
It is also clear that we have a new blockbuster on our hands in the field of epilepsy. As this product reaches new markets, we are expecting sales to reach €1.4 billion by 2022. Our blockbuster immunology medicine is expected to reach €1.7 billion by 2024. To me, this suggests that the next five years could also be characterized by healthy growth.
And, as ever, we are looking beyond the short and medium-term horizons. The 2018 results and our 2019 financial outlook give us confidence to invest in the future.
UCB has a strong late stage pipeline currently offering six potential product launches in the next five years. Building on this solid foundation, we will accelerate our investments in future growth drivers – new solutions that offer value for patients and move UCB forward. Let me know if you would like to discuss these 6 potential future options for patients.
For more details, download our Full Year Financial Results or contact me directly: Antje.Witte@ucb.com.