Sobi publishes its Report for the Fourth Quarter and Full Year 2014

Swedish Orphan Biovitrum AB (publ) (Sobi) today announced its results for the fourth quarter and full year 2014. Revenues for the year totalled SEK 2,607 M (2,177), an increase of 20 per cent. Revenues in the fourth quarter were 15 per cent higher compared to the previous year. All parts of the business contributed to the result with Orfadin® and the Partner Products portfolio delivering strong performance.

Business Highlights Q4 2014

• Received positive opinion by the CHMP regarding Xiapex for the treatment of Peyronie's disease
• Exercised opt-in right for Elocta(TM)
• Marketing Authorisation Application for Elocta filed and validated for review by EMA
• Orfadin approved in Japan

Financial Highlights Q4 2014 (Q4 2013)

• Total revenues were SEK 705.3 M (610.8)
• Product revenues were SEK 575.3 M (448.0)
• Gross margin was 60 per cent (59)
• EBITA was SEK 38.2 M (65.2)
• EBITA excluding write-downs (Multiferon) was SEK 63.4 M (65.2)

Financial Highlights FY 2014 (FY 2013)

• Total revenues were SEK 2,607.0 M (2,176.7)
• Product revenues were SEK 1,988.8 M (1,557.7)
• Gross margin was 59 per cent (59)
• EBITA was SEK -43.4 M (211.0)
• EBITA excluding write-downs (Kiobrina/Multiferon) was SEK 306.7 M (211.0)
• Ended the year with a cash position of SEK 519.1 M (445.1)^[1]

"2014 was a pivotal year for Sobi marked by excellent commercial performance across the portfolio. Total revenues were SEK 2,607 million, an increase of 20 per cent over the prior year and above our estimates. Cash flow increased year over year and gross margin was stable," said Geoffrey McDonough, CEO and President.