full announcement

03 Feb 2016 07:30 CET

Novo Nordisk increased operating profit by 43% in 2015 to DKK 49.4 billion

14% local currency operating profit growth adjusted for NNIT divestment

Sales increased by 22% in Danish kroner and by 8% in local currencies to 107.9 billion.

  • Sales of modern and new-generation insulin increased by 22% (9% in local currencies).
  • Sales of Victoza® increased by 34% (18% in local currencies).
  • Sales in North America increased by 32% (11% in local currencies).
  • Sales in International Operations increased by 19% (15% in local currencies).
  • Sales in Region China increased by 22% (4% in local currencies).
Operating profit increased by 43% in Danish kroner and by 21% in local currencies to DKK 49.4 billion. Adjusted for the DKK 2.4 billion non-recurring income related to the partial divestment of NNIT, the operating margin was 43.6% corresponding to an increase in operating profit in local currencies of 14%.

Net profit increased by 32% to DKK 34.9 billion. Diluted earnings per share increased by 34% to DKK 13.52. Adjusted for the partial divestment of NNIT, net profit and diluted earnings per share increased by 22% and 25% respectively.

In 2015, Novo Nordisk achieved its four long-term financial targets established in January 2013 and consequently, the Board of Directors has approved three updated long-term financial targets to guide Novo Nordisk's performance. The target for operating profit growth has now been set at 10%, whereas no target for operating margin development has been established, as the operating margin is expected to stay at the current level around 44%. The targets for operating profit after tax to net operating assets and cash to earnings remain unchanged at 125% and 90% respectively.

For 2016, sales growth is expected to be 5-9% measured in local currencies. Growth in operating profit is also expected to be 5-9% measured in local currencies, adjusted for the non-recurring impact of the partial divestment of NNIT and the income related to the out-licensing of assets for inflammatory disorders, both in 2015. Growth reported in DKK, for both items, is expected to be around 1 percentage point lower than the local currency levels.

At the Annual General Meeting on 18 March 2016, the Board of Directors will propose a 28% increase in dividend to DKK 6.40 per share of DKK 0.20 and intends to initiate a new 12-months share repurchase programme of up to DKK 14 billion. 

Lars Rebien Sørensen, president and CEO: "We are very pleased with Novo Nordisk's performance in 2015 and the achievement of our four long-term financial targets. In 2016 we will continue to focus on the global launch of Tresiba® and we are encouraged by the recent SWITCH 2 data, which further demonstrate the ability of Tresiba® to reduce the risk of hypoglycaemia in people with type 2 diabetes on basal insulin therapy."

Contacts for further information

Katrine Sperling +45 3079 6718
Ken Inchausti (US) +1 267 809 7552
Peter Hugreffe Ankersen +45 3075 9085
Daniel Bohsen +45 3079 6376
Melanie Raouzeos +45 3075 3479
Kasper Veje +45 3075 8519

Company announcement No 8 / 2016