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Hikma delivers strong growth in revenue and profit in 2019

London, 27 February 2020 – Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical company, today reports its preliminary audited results for the year ended 31 December 2019.   

2019 core1 results summary 

• Group core revenue of $2,203 million, up 6% 

• Group core operating profit of $508 million, up 10% 

• Core basic earnings per share of 150.4 cents, up 9%  

2019 reported results summary 

• Group revenue of $2,207 million, up 7%

• Group operating profit of $493 million, up 33%

• Basic earnings per share of 200.8 cents, up 72%

• Cashflow from operating activities of $472 million, up 10%

• Net debt reduced to $242 million and low leverage maintained (net debt to core EBITDA2 ratio 0.4x)

• Full year dividend of 44 cents per share, up from 38 cents per share  

2019 highlights

• Injectables core revenue up 7% driven by strong demand for our broad portfolio and recent launches

• Generics core operating profit up 33% reflecting excellent commercial execution and reduced costs

• Branded core revenue up 8% driven by strong demand across most of our MENA markets

• 108 new products launched across all markets, expanding our global product portfolio  • 18 licensing agreements signed for the US and MENA

• Completed a repeat clinical endpoint study for our generic version of Advair Diskus® 

• Entered into a long-term supply agreement with Civica Rx to assist in the delivery of essential medicines in short supply to US hospitals  

Siggi Olafsson, Chief Executive Officer of Hikma, said:   

“2019 was another very good year for Hikma, driven by strong demand for our broad product portfolio, excellent commercial execution and increased operational efficiencies across the organization.  During a challenging year for the industry, we delivered strong financial performance and made important progress on our strategic objectives, including strengthening our operations, building our portfolio and pipeline, forming new partnerships, developing our people and attracting new talent across the Group.  These actions were reflected in our financial results in 2019, with each of our three businesses delivering good organic growth in revenue and operating profit. 

I am proud of what our teams have achieved across the Group, enabling us to provide high-quality medicines to the people that need them most, every day.  We remain highly focussed on executing our strategic priorities, which will drive further growth in 2020 and beyond, creating sustainable value for all our stakeholders.” 

Core results  2019 $ million  2018 $ million  Change Constant currency3 change 
Core revenue 2,203  2,076  6%  6% 
Core operating profit 508 460 10%  9% 
Core EBITDA 593 549 8%  6% 
Core profit attributable to shareholders 364 332 10%  7% 
Core basic earnings per share (cents) 150.4  137.8  9%  7% 
Reported results      2019 $ million  2018 $ million  Change Constant currency3 change 
Revenue 2,207 2,070 7%  6%
Operating profit 493 371 33%  31% 
EBITDA 592 492 20%  19% 
Profit attributable to shareholders  486 282 72%  70% 
Basic earnings per share (cents)  200.8 117.0  72%  69% 

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Last Updated: 28-Feb-2020