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DUBAI, UAE, Aug. 8, 2024 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is turning up the heat on P2P trading with an exciting new Block Trading Challenge packed with rewards. Starting now and running until August 30th, 2024,users can participate in a series of engaging tasks to earn USDT bonuses, enter lucky draws, and compete for top leaderboard positions. Bybit Rewards P2P Traders with Exciting New Block Trading Challenge To qualify for rewards, users simply need to complete specified Block Trading transactions during the campaign period. By fulfilling different task requirements, participants can earn a 200 USDT P2P coupon, enter a lucky draw for a chance to win up to 1,000 USDT, or secure a top spot on the leaderboard to claim exclusive USDT prizes. Bybit's P2P platform supports a wide range of fiat currencies, making it accessible to users worldwide and in the regions where we are compliant. Don't miss out on this opportunity to boost your earnings and elevate your trading experience. Join the Bybit P2P Block Trading Challenge campaign today! #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 39 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit Press.For media inquiries, please contact: media@bybit.com For more information, please visit: https://www.bybit.com For updates, please follow: Bybit's Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
SHANGHAI, Aug. 8, 2024 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced that it will release its unaudited financial results for the second quarter of 2024, on Thursday, August 22, 2024, before the open of the U.S. markets. The Company's management will hold an earnings conference call on Thursday, August 22, 2024 at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Beijing/Hong Kong Time) to discuss the financial results. Listeners may access the call by dialing the following numbers: United States (toll free): +1-888-317-6003 International: +1-412-317-6061 Mainland China (toll free): 400-120-6115 Hong Kong (toll free): 800-963-976 Hong Kong: +852-5808-1995 Access Code: 7845776 A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until August 29, 2024: United States: +1-877-344-7529 International: +1-412-317-0088 Replay Access Code: 2271132 A live and archived webcast of the conference call will also be available on the Company's investor relations website at https://ir.zkh.com. About ZKH Group Limited ZKH Group Limited (NYSE: ZKH) is a leading MRO procurement service platform in China, dedicated to propelling the MRO industry's digital transformation to drive cost reduction and efficiency improvement industry-wide. Leveraging its outstanding product selection and recommendation capabilities, ZKH provides digitalized, one-stop MRO procurement solutions that enable its customers to transparently and efficiently access a wide selection of quality products at competitive prices. ZKH also facilitates timely and reliable product delivery with professional fulfillment services. By catering specifically to the needs of MRO suppliers and customers through its unmatched digital infrastructure, ZKH empowers all participants in the value chain to achieve more. For more information, please visit https://ir.zkh.com. For investor and media inquiries, please contact: In China: ZKH Group LimitedIR DepartmentE-mail: IR@zkh.com Piacente Financial CommunicationsHui FanTel: +86-10-6508-0677E-mail: zkh@thepiacentegroup.com In the United States: Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050E-mail: zkh@thepiacentegroup.com
TAIPEI, Aug. 8, 2024 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced its financial results for the second quarter of 2024. Consolidated revenues reached NT$67.14 billion, up 15.2% year-on-year (YoY); operating income was NT$1.47 billion, up 87.9% quarter-on-quarter (QoQ) and 40.3% YoY, with 2.2% margin; net income[1] was NT$1.40 billion with earnings-per-share NT$0.47. For 1H 2024, Acer's consolidated revenues reached NT$125.97 billion, up 13.8% YoY; gross profits reached NT$13.37 billion with 15.1% growth YoY and 10.6% margin; operating income was NT$2.25 billion, up 75.1% YoY; and net income[1] was NT$2.61 billion with 36.6% growth YoY and earnings-per-share of NT$0.87. In the second quarter, businesses other than computers and displays contributed 28.1% of total revenues, and 35.2% of operating income. [1] Net income is reported as profit-after-tax in Acer's financial statements. About Acer Founded in 1976, Acer is one of the world's top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer's 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information. © 2024 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra.
Revenue increased by 6.6% and operating profit by 30.6%, driven by robust performance in tobacco business KT&G reaffirms commitment to maximizing corporate value with core business-driven growth and enhancing shareholder value through best-in-class shareholder return policy SEOUL, South Korea, Aug. 8, 2024 /PRNewswire/ -- KT&G Corporation ("KT&G" or the "Company") (KRX:033780), South Korea's leading tobacco manufacturer, today hosted an earnings conference call and announced its financial results for the second quarter ended June 30, 2024. The company reported consolidated revenue of KRW 1.424 trillion and operating profit of KRW 321.5 billion, marking year-over-year growth rate of 6.6% and 30.6%, respectively. KT&G's second quarter growth was mainly driven by the robust performance in the Overseas Cigarette business, which is one of the company's 3 core growth businesses (Overseas Cigarette, Next Generation Product, Health Functional Food). The Overseas Cigarette business achieved growth in all key metrics, including revenue, operating profit, and sales volume. The revenue, in particular, reached an all-time high of KRW 359.1 billion, with an impressive double-digit growth rate of 35.3% this quarter. The operating profit soared by 139.1% year-over-year. The domestic NGP (Next Generation Product or Heated Tobacco) business also saw growth in all 3 key metrics: revenue increased by 10.8%, operating profit by 42.8%, and sales volume by 7.7% year-over-year. The overseas business continued to improve its profitability, driven by an increased proportion of stick sales volume, which is the key growth driver of the business. The Health Functional Food business also expanded growth overseas, with revenue increasing by 38.4% year-over-year to KRW 92.6 billion. This growth was driven by a 75.4% increase in revenue from China, a key market, reaching KRW 61.9 billion. During the earnings conference call, KT&G also shared specific plans to execute the mid-to-long-term shareholder return plan introduced last year. The plan includes KRW 1.8 trillion in cash dividend, KRW 1 trillion allocated for share buyback, and cancellation of nearly 15% of its outstanding shares. In February, KT&G cancelled 3.5 million existing treasury shares (equivalent to around KRW 315 billion). On the same day, KT&G's Board of Directors resolved to declare an interim dividend of KRW 1,200 and plans for share buyback and cancellation, demonstrating the Board's continued dedication to enhancing shareholder value by faithfully executing the shareholder return policy. The total annual dividend for this year, including the interim dividend, is expected to increase compared to last year and continue on an upward trend. Moreover, KT&G plans to buy back 3.61 million treasury shares for immediate cancellation, worth approximately KRW 350 billion, starting from August 9, 2024. The total share cancellation amount for this year is expected to reach around KRW 665 billion. Additionally, KT&G plans to unveil a new corporate value enhancement plan in the second half of the year, continuing its strong commitment to the shareholder return policy. Also, KT&G intends to accelerate the achievement of its vision towards a 'Global Top-tier' company by strengthening fundamental competitiveness and structural reforms centered around the 3 core growth businesses. To that end, in July, the company executed a MoU with Philip Morris International for collaboration on U.S. PMTA (Pre-market Tobacco Product Application) submission for KT&G's new NGP products. KT&G also updated its full year outlook during the earnings conference call. The company projects the annual consolidated revenue to grow 2.5~3%, with operating profit expected to remain flat, reflecting changes in the business environment in the Health Functional Food and Real Estate sectors. KT&G's spokesperson said: "We achieved growth in both revenue and operating profit in the second quarter by expanding our overseas business, which delivered solid performance in our core growth areas. We will continue to maximize corporate value by strengthening the competitiveness of our core growth businesses and enhance shareholder value through our best-in-class shareholder return policy."
Record-breaking sales of approximately KRW 2.56 trillion despite the slowdown in the electric vehicle market Aiming for improved performance in the second half through thermal management solutions applicable to all vehicle types, including internal combustion engine, hybrid and electric vehicles SEOUL, South Korea, Aug. 8, 2024 /PRNewswire/ -- Hanon Systems (KS:018880), a leading global automotive thermal management supplier for electrified mobility, today announced consolidated sales of KRW 2.56 trillion for the second-quarter of 2024, achieving the highest quarterly and historical sales record. This represents an increase of approximately 5.4% compared to the same period last year. Operating profit for the second quarter was KRW 71.6 billion, a 9.6% increase from the previous quarter, marking a consistent rise in operating profit for three consecutive quarters. However, the 50% decrease in operating profit compared to the same period last year is attributed to temporary factors, including the high base effect from strong previous-year performance and the global slowdown in electric vehicle sales. For the first half of the year, sales reached KRW 4.9645 trillion, approaching the total half-year sales of KRW 5 trillion. Despite the global decline in electric vehicle production due to the slowdown in electric vehicle sales, the company's annual sales for 2024 are expected to show growth compared to the previous year, reaching approximately KRW 10 trillion. Hanon Systems plans to leverage its competitive advantage by diversifying its product development strategy to focus on not only EVs, but also hybrids and internal combustion engine vehicles, in line with the future strategic changes of its customers. The company expects that the expansion of its traditionally strong internal combustion engine vehicle products and the use of key electrification components, such as electric compressors, in hybrid vehicle thermal management systems will positively impact profitability. Co-CEO Subu Nagasubramony said Hanon Systems is swiftly responding to strategic direction changes from our customers. "We are aiming for improved performance in the second half of the year with our thermal management solutions technology, capable of addressing all vehicle types, including internal combustion engines, hybrids, and electric vehicles." 2Q 2023 1Q 2024 2Q 2024 Sales KRW 2.429 trillion KRW 2.4046 trillion KRW 2.5599 trillion Operating Profit KRW 143.4 billion KRW 65.3 billion KRW 71.6 billion Net Profit KRW 110.6 billion KRW 10.1 billion -KRW 31.2 billion About Hanon Systems Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure. The company currently operates 50 manufacturing sites and three regional innovation centers, and employs more than 20,000 people across 21 countries. To learn more, visit hanonsystems.com. Follow Hanon Systems: LinkedIn: https://www.linkedin.com/company/hanonsystems YouTube: https://www.youtube.com/channel/UC6bSZ7NMg7LPhXDyTOMwebQ/feed
Ad hoc announcement pursuant to art. 53 SIX Swiss Exchange Listing Rules MEDIA RELEASE Strong double-digit growth in biosimilars of 29% from existing portfolio and recent launches Second-quarter net sales[1] of USD 2.6 billion, up 9% in constant currencies (up 7% in USD) Half-year net sales of USD 5.0 billion, up 7% in constant currencies (up 6% in USD) Half-year core EBITDA margin[2] of 17.5%, a strong 210 basis point improvement versus H2 2023, driven by favorable biosimilars mix; within H1, margin expanded quarter-over-quarter Half-year 2024 EBITDA margin of 11.4%, due to one-time separation and transformation costs, and rationalization of specific manufacturing sites Net sales growth guidance increased to mid- to high-single digit in constant currencies (from mid-single digit) and reinforced confidence in core EBITDA margin of around 20% Executive Committee appointments: Rebecca Guntern as Chief Commercial Officer, and Christophe Delenta as President Europe, both effective September 1, 2024 Basel, August 8, 2024 – Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in generic and biosimilar medicines, today announced net sales for the second quarter and results for the half year ended June 30, 2024. For the second quarter, net sales were USD 2.6 billion, an increase of 9% in constant currencies compared to the same quarter of the prior year. For the half year, net sales were USD 5.0 billion, an increase of 7% in constant currencies compared to the prior year and core EBITDA margin was 17.5%. Richard Saynor, Chief Executive Officer of Sandoz, said: “We are executing on our strategy, meeting key milestones in our biosimilar business and progressing on our journey as a standalone company. In recent months, we saw strong uptake of Hyrimoz® in the US, received approval for Pyzchiva® (ustekinumab) and Wyost®/Jubbonti® (denosumab) in the US and Europe and secured a settlement agreement in the US with launch dates in the first half of 2025. We also advanced our separation and transformation programs, and broke ground on our new biosimilar manufacturing facility in Slovenia. “These strategic achievements came alongside solid financial results, as demonstrated by strong double-digit growth in biosimilars and a positive contribution by all three regions for the second quarter and half year. Our half-year 2024 core EBITDA margin was 17.5%, a strong 210 basis points improvement compared to the second half of 2023, primarily from recent biosimilars launches. We expect momentum in our business to continue in the second half of the year, with margin expansion coming from favorable product mix, leveraging expenses on growing topline, and contribution from our transformation program.” 1 Net sales in this document refer systematically to net sales to third parties. In the first half of 2023, third party sales excluded sales to our former parent. Post separation, sales to our former parent were reclassified as third-party sales.2 An explanation of non-IFRS measures can be found in the Supplementary financial information of the Half-Year Report 2024. EXECUTIVE COMMITTEE APPOINTMENTS Going into the second half of 2024, Sandoz is announcing some senior leadership changes. Pierre Bourdage, Sandoz Chief Commercial Officer and a member of the Executive Committee, is unfortunately stepping down from his role for personal health reasons. The company has appointed Rebecca Guntern, currently President Europe and a member of the Executive Committee, as the new Chief Commercial Officer effective September 1, 2024. A Swiss national, Rebecca is a seasoned commercial leader, who has been with Sandoz for almost two decades. She has successfully led the European organization across more than 40 countries since 2020. Under her tenure, the company’s leading position in Europe has further strengthened, particularly in biosimilars. Drawing on a strong bench of internal leaders, Christophe Delenta will succeed Rebecca Guntern as President Europe and become a member of the Executive Committee, also effective September 1, 2024. A French national, Christophe is currently Cluster Head within the Sandoz Europe region, overseeing the business in major EU markets such as France, Italy and Spain. He has more than 25 years of experience as a leader in pharmaceuticals, the last eight years of which were with Sandoz. Looking back on a successful career in a broad range of commercial roles, Christophe has worked in Europe, Africa, the United States and Latin America, in both generic and originator companies. Richard Saynor, Chief Executive Officer of Sandoz, said: “We would like to thank Pierre for his leadership and everything he has done for Sandoz for many years. Please join me in wishing him the very best, and in congratulating Rebecca and Christophe on their appointments.” SECOND QUARTER AND HALF-YEAR 2024 NET SALES RESULTS Net sales for the second quarter were USD 2.6 billion, up 9% in constant currencies, compared to the second quarter of 2023. Volume contributed nine percentage points of growth, with no impact from price erosion. Biosimilars were a key driver of growth in the quarter, while generics remained in line with the strong prior year sales. Net sales for the first half of 2024 were USD 5.0 billion, up 7% in constant currencies compared to prior year. Volume contributed nine percentage points of growth. This was partially offset by price erosion of two percentage points, a significant reduction compared to four percentage points in the prior year. The growth was primarily driven by biosimilars, with strong demand for both the base business and new in-market organic and acquired products in the US. Net sales by business Three months ended June 30 Change % Six months ended June 30 Change % USD millions unless indicated otherwise 2024 2023 USD cc* 2024 2023 USD cc Generics 1 835 1 850 -1 1 3 704 3 718 0 1 Biosimilars 720 533 35 37 1 343 1 049 28 29 Net sales to third parties 2 555 2 383 7 9 5 047 4 767 6 7 *constant currencies Generics overviewNet sales for the second quarter were USD 1.8 billion, up 1% in constant currencies, compared to the second quarter of 2023. Net sales for the first half were USD 3.7 billion, up 1% in constant currencies versus prior year. The momentum continued in the International region, aided by demand for the antifungal agent Mycamine®. Europe remained stable despite strong prior year comparisons. These include the strong sales of apixaban in the first half of 2023 which was withdrawn in the Netherlands following a court decision in August 2023, and an exceptional cough and cold season last year. Launches in North America are planned in the second half of the year, with the relative phasing impacting growth in the first half. Biosimilars overviewNet sales for the second quarter were USD 720 million, up 37% in constant currencies, compared to the second quarter of 2023. Net sales for the first half were USD 1.3 billion, up 29% in constant currencies versus prior year. The strong double-digit biosimilars growth reflects the uptake of Hyrimoz® (adalimumab) in the US, the acquisition of Cimerli® (ranibizumab), the continued strong demand for our first-ever biosimilar, Omnitrope® (somatropin) and the launch of Tyruko® (natalizumab) in Europe. Net sales by region Three months ended June 30 Change % Six months ended June 30 Change % USD millions unless indicated otherwise 2024 2023 USD cc 2024 2023 USD cc Europe 1 308 1 277 2 3 2 634 2 547 3 3 North America 620 508 22 23 1 144 1 004 14 14 International 627 598 5 9 1 269 1 216 4 10 Net sales to third parties 2 555 2 383 7 9 5 047 4 767 6 7 Europe overviewNet sales for the second quarter were USD 1.3 billion, up 3% in constant currencies, compared to the second quarter of 2023. Net sales for the first half were USD 2.6 billion, up 3% in constant currencies versus prior year. Strong growth in biosimilars continues, led by demand for Omnitrope® and the contribution from the recent launch of Tyruko®. This was partly offset by a stable generics business due to a strong prior year comparison. This includes the withdrawal of apixaban and an exceptional cough and cold season. North America overviewNet sales for the second quarter were USD 620 million, up 23% in constant currencies, compared to the second quarter of 2023. Net sales for the first half were USD 1.1 billion, up 14% in constant currencies versus prior year. Growth was driven by the ongoing uptake of Hyrimoz® in the US and the acquisition of Cimerli®. This was partly offset by a decline in generics sales due to the timing of new launches in the US, which are planned in the second half of 2024. International overviewNet sales for the second quarter were USD 627 million, up 9% in constant currencies, compared to the second quarter of 2023. Net sales for the first half were USD 1.3 billion, up 10% in constant currencies versus prior year. This was primarily a result of strong volume growth across both generics and biosimilars, the acquisition of Mycamine® in the prior year and favorable price dynamics, partly offset by the divestment of the Chinese business in the second quarter. HALF-YEAR KEY OPERATING AND NON-OPERATING RESULTS Six months ended June 30 Change % USD millions unless indicated otherwise 2024 2023 USD cc Net sales to third parties 5 047 4 767 6 7 Gross profit 2 380 2 374 0 3 Operating income 332 462 (28) (17) EBITDA 576 720 (20) (13) Net income 151 236 (36) (26) Core results Core gross profit 2 544 2 537 0 2 % of net sales to third parties 50.4 53.2 Core operating income 763 870 (12) (7) % of net sales to third parties 15.1 18.3 Core EBITDA 885 992 (11) (6) % of net sales to third parties 17.5 20.8 Core net income 484 591 (18) (13) Core diluted earnings per share (USD) 1.12 1.37 (18) (13) Core gross profit in the first half of 2024 was USD 2.5 billion, in line with prior year. Core gross profit margin was 50.4% compared to 53.2% in the first half of 2023. The favorable product mix from strong double-digit biosimilars growth partly offset price erosion and the inflation on cost of goods sold, which impacted results as of the second half of 2023. On a sequential basis, core gross profit margin improved by 170 basis points versus the second half of 2023, driven by favorable product mix from strong double-digit biosimilars growth. Core EBITDA in the first half of 2024 was USD 885 million versus USD 992 million in the prior year. Core EBITDA margin was 17.5% compared to 20.8% in the first half of 2023, driven by lower core gross profit margin. On a sequential basis, core EBITDA margin improved by 210 basis points compared to the second half of 2023, driven by favorable product mix from strong double-digit biosimilars growth. For the same reason, within H1, the margin expanded quarter-over-quarter. EBITDA in the first half of 2024 was USD 576 million versus USD 720 million in the prior year. Core adjustments for EBITDA in the first half of 2024 were USD 309 million compared to USD 272 million in the prior year, driven primarily by transformation costs of USD 140 million, separation costs of USD 118 million and rationalization of specific manufacturing sites of USD 42 million. Core net income was USD 484 million compared to USD 591 million in the prior year, mainly driven by lower core EBITDA and higher interest expense, partly offset by lower income tax. As a result, core diluted earnings per share was USD 1.12, compared to USD 1.37 in the prior year. The weighted average number of shares was 432.2 million in the first half of 2024. NET CASH FLOW, NET WORKING CAPITAL AND NET DEBT The company generated net cash flows from operating activities of USD 229 million, an improvement compared to USD 85 million in the prior year. Capital expenditures were USD 205 million, compared to USD 169 million in the prior year. This includes investments in our new biosimilars facility in Slovenia and our antibiotics facility in Austria, as well as separation-related investments in facilities and technology. Management free cash flow, defined as free cash flow adjusted for one-off items, was USD 237 million, an improvement compared to USD 1 million in the prior year. Free cash flow was USD 21 million, an improvement compared to negative USD 86 million in the prior year. Lower operating income was offset by a lower rate of increase of inventory following the spin-off from our former parent, and other working capital and operating items remaining stable despite strong topline growth. Net working capital of USD 3.9 billion increased by USD 173 million compared to December 31, 2023, primarily due to an increase in inventory driven by the build-up for product launches, and higher sales. Total cash and cash equivalents decreased to USD 0.7 billion on June 30, 2024, compared to USD 1.1 billion on December 31, 2023. Net cash flows from operating activities were more than offset by our first dividend payment of USD 215 million and the Cimerli® acquisition of USD 188 million. As a result of the above, net debt increased to USD 3.4 billion on June 30, 2024, compared to USD 3.1 billion on December 31, 2023. GUIDANCE 2024 On the back of favorable business momentum and accelerated growth in United States biosimilars, the company is increasing its full year 2024 net sales guidance to mid- to high-single digit growth in constant currencies versus prior year (from mid-single digit) and is confirming its core EBITDA margin of around 20%. HALF-YEAR REPORTThe company published its Half-Year Report 2024 today, which can be found on the Sandoz website. KEY LINKSWebcast – Live at 9am CETAnalyst Call PresentationAnalyst Consensus DISCLAIMERThis Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.This media release includes non-IFRS financial measures as defined by Sandoz. An explanation of non-IFRS measures can be found in the Supplementary financial information of the Half-Year Report 2024. ABOUT SANDOZSandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 800 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,500 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2023, Sandoz recorded sales of USD 9.6 billion. CONTACTS Global Media Relations contacts Investor Relations contacts Global.MediaRelations@sandoz.com Investor.Relations@sandoz.com Steffen Kurzawa+41 79 800 8501 Karen M. King+1 609 722 0982 Joerg E. Allgaeuer+49 171 838 4838 Laurent de Weck+41 79 795 7364 SUPPORTING FINANCIAL INFORMATION Quarterly sales H1 2024 USD millions unless indicated otherwise Q1 2024 Change % Q2 2024 Change % USD cc USD cc Generics 1 869 0 1 1 835 (1) 1 Biosimilars 623 21 21 720 35 37 Net sales to third parties 2 492 5 6 2 555 7 9 Europe 1 326 4 2 1 308 2 3 North America 524 6 6 620 22 23 International 642 4 12 627 5 9 Net sales to third parties 2 492 5 6 2 555 7 9 FY 2023 USD millions unless indicated otherwise Q1 2023 Change % Q2 2023 Change % Q3 2023 Change % Q4 2023 Change % USD cc USD cc USD cc USD cc Generics 1 868 2 6 1 850 4 6 1 794 5 4 1 920 6 6 Biosimilars 516 11 17 533 13 14 543 7 4 623 29 26 Net sales to third parties 2 384 4 9 2 383 5 8 2 337 6 4 2 543 11 10 Europe 1 270 10 16 1 277 14 12 1 204 11 3 1 272 10 4 North America 496 (5) (3) 508 (4) (2) 510 (4) (3) 615 20 20 International 618 (1) 4 598 (3) 8 623 3 12 656 4 14 Net sales to third parties 2 384 4 9 2 383 5 8 2 337 6 4 2 543 11 10 Reconciliation of core resultsReconciliation from IFRS results to core results H1 2024 USD millions unless indicated otherwise IFRS results Amortization of intangible assets1 Impairments2 Acquisition or divestment of businesses and related items3 Other items4 Core results Net sales 5 047 – – – – 5 047 Other revenues 15 – – – – 15 Cost of goods sold (2 682) 114 – 11 39 (2 518) Gross profit 2 380 114 – 11 39 2 544 Selling, general and administration (1 246) – – – 13 (1 233) Development and regulatory (489) – 1 – 1 (487) Other income 81 – – (30) (5) 46 Other expense (394) – 1 3 283 (107) Operating income5 332 114 2 (16) 331 763 Interest expense (126) – – – – (126) Other financial income and expense (2) – – – (12) (14) Income before taxes 204 114 2 (16) 319 623 Income taxes6 (53) (139) Net income 151 484 Basic earnings per share (USD) 0.35 1.12 Diluted earnings per share (USD) 0.35 1.12 1 Amortization of intangible assets: cost of goods sold includes the amortization of acquired rights to currently marketed products and other production-related intangible assets.2 Impairments: development and regulatory and other expense include impairment charges related to intangible assets and property, plant and equipment.3 Acquisition or divestment of businesses and related items: cost of goods sold, other income and other expense include the gain from the China business divestment and portfolio agreement and expenses related to the acquisition of the Cimerli® business.4 Other items: costs of goods sold and other expense include the Group-wide rationalization of manufacturing sites; costs of goods sold, selling general and administration, development and regulatory and other expense include the separation costs related to the spin-off; selling general and administration, other income and other expense include the costs related to the transformation program and other restructuring charges; other income and other expense also include legal-related items; other financial income and expense includes the monetary loss on the restatement of non-monetary items for subsidiaries in hyperinflationary economies.5 For further breakdown of core adjustments by category, refer to table Reconciliation from IFRS operating income to core net income.6 Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for items arising from legal settlements in certain jurisdictions. Due to these factors and the differing applicable tax rates in the various jurisdictions, the tax on the total adjustments of USD 419 million to arrive at the core results before tax amounts to USD 86 million. The average tax rate on the adjustments was 20.5%. Further reconciliations of core results are available in the Supplementary financial information of the Half-Year Report 2024, which can be found on the Sandoz website.
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