Sobi Reports Strong Q4 2024 Results: A Year of Growth and Promising Future

Sobi's Robust Q4 2024 Results: Ending the Year on a High Note

On February 5, 2025, Swedish Orphan Biovitrum AB (publ), commonly known as Sobi, shared its financial report for the fourth quarter of 2024. The report highlights a prosperous closure to a year marked by robust revenue growth and strategic advances. The company revealed that total revenue for Q4 2024 rose by an impressive 9%, reaching SEK 7,436 million, compared to SEK 6,844 million in the previous year. When adjusted for constant exchange rates, this growth stands at an 8% increase.

Key Revenue Growth Areas

The report indicates that haematology products were instrumental to this growth, with revenues shooting up by 22% at constant exchange rates to SEK 4,487 million, compared to SEK 3,640 million year-on-year. This surge in sales was primarily fueled by several key products: Doptelet®, which accounted for SEK 1,147 million in sales (up from SEK 727 million), followed by Vonjo® with SEK 416 million (up from SEK 322 million), and Aspaveli®/Empaveli® contributing SEK 269 million (up from SEK 186 million). Additionally, the newly launched Altuvoct® also made a significant impact with sales of SEK 302 million, showcasing the successful integration of new products into Sobi's portfolio.

On the flip side, revenue from immunology decreased by 12% at constant exchange rates to SEK 2,564 million, primarily due to a substantial drop in Synagis® sales, which plummeted to SEK 68 million from 897 million. However, this decline was somewhat mitigated by strong sales of Beyfortus®, which generated royalties of SEK 1,207 million, up from SEK 890 million, and Kineret® reported sales of SEK 777 million compared to SEK 621 million last year.

The strategic portfolio's performance was particularly noteworthy, with revenue soaring by 50% at constant exchange rates to SEK 4,099 million, compared to SEK 2,722 million previously.

2024 Full-Year Performance

In the broader context, Sobi's total revenue for the entire year of 2024 surged by 18%, or 19% when accounting for constant exchange rates, totaling SEK 26,027 million, up from SEK 22,123 million in 2023. The haematology segment alone contributed a 24% increase at constant exchange rates, while the immunology sector recorded an 11% growth at constant exchange rates.

One notable highlight for Sobi was the adjusted EBITA (earnings before tax, interest, and amortization) margin, which stood at 36%, an increase from the previous year’s margin of 34%. Despite these successes, the board has decided to propose no dividends for the financial year 2024.

Looking Ahead: 2025 Outlook

As Sobi pivots towards the new year, the company anticipates growth in revenue by a high single-digit percentage at constant exchange rates. The adjusted EBITA margin is expected to remain in the mid-30% range of revenue, indicating a focus on sustained profitability moving forward.

Management Changes

In a notable governance change, David Meek has been appointed as a new member and chair of the board. This transition is expected to bring fresh perspectives as Sobi continues to navigate the biopharmaceutical landscape.

Sobi, recognized for transforming the lives of individuals affected by rare and debilitating diseases, currently employs around 1,800 staff members across various global locations, including Europe, North America, the Middle East, and Asia. The company remains committed to providing reliable access to innovative medicines within the realms of haematology, immunology, and specialized care.

To discuss these results in detail, Sobi has organized a conference call for investors, analysts, and media representatives on February 5, 2025, at 1430 CET. Participants will have the opportunity to delve into the specifics of the report, followed by a Q&A session. Interested parties can access the call through provided dial-in details from various countries.

For more information on Sobi’s ongoing initiatives and future plans, stakeholders can visit the official website at sobi.com or follow the latest updates on their LinkedIn page.