Building on solid FY 2023 results, Ipsen anticipates four launches in 2024

Total-sales growth in FY 2023 of 6.7% at CER1 (3.4% as reported) included strong sales from the growth platforms2 and good contributions from the new medicines. A core operating margin of 32.0% (IFRS operating margin of 26.1%), based on further enrichment of the pipeline and accelerated R&D investment, mainly from recent acquisitions

Financial guidance for 20243 comprises total-sales growth4 greater than 6.0% at CER1 and a core operating margin5 around 30% of total sales, including the impact of four potential launches and an advancing pipeline

A new phase of growth and mid-term financial outlook were outlined at the December 2023 capital-markets day

PARIS, FRANCE, 8 February 2024 – Ipsen ((Euronext: IPN, OTC:IPSEY), a global specialty-care biopharmaceutical company, today presents its financial results for the year and final quarter of 2023.

Extract of consolidated results for FY 2023 and FY 20226:

 
FY 2023
FY 2022
% change

 
€m
€m
Actual
CER1

Total Sales
3,127.5
3,025.0
3.4%
6.7%

Core Operating Income
1,001.0
1,115.4
-10.3%
 

Core operating margin
32.0%
36.9%
-4.9% pts
 

Core Consolidated Net Profit
765.5
872.4
-12.3%
 

Core earnings per share (fully diluted)
€9.15
€10.51
-13.0%
 

IFRS Operating Income
816.0  
729.9
11.8%
 

IFRS operating margin
26.1%
24.1%
2.0% pts
 

IFRS Consolidated Net Profit
647.2  
647.5
–
 

IFRS earnings per share (fully diluted)
€7.73
€7.81
-1.0%
 

Free Cash Flow
710.9
817.2
-13.0%
 

Closing net cash
65.1
398.8