Key figures
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark.
DKK million |
|
2020 |
|
2021 |
|
2022 |
|
2023 |
|
2024 |
|
2023-24 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Financial performance |
|
|
|
|
|
|
|
|
|
|
|
Change |
|||||||||
Net sales |
|
126,946 |
|
140,800 |
|
176,954 |
|
232,261 |
|
290,403 |
|
25% |
|||||||||
Sales growth as reported |
|
4.0% |
|
10.9% |
|
25.7% |
|
31.3% |
|
25.0% |
|
|
|||||||||
Sales growth in constant exchange rates1 |
|
6.7% |
|
13.8% |
|
16.4% |
|
35.6% |
|
25.7% |
|
|
|||||||||
Operating profit |
|
54,126 |
|
58,644 |
|
74,809 |
|
102,574 |
|
128,339 |
|
25% |
|||||||||
Operating profit growth as reported |
|
3.1% |
|
8.3% |
|
27.6% |
|
37.1% |
|
25.1% |
|
|
|||||||||
Operating profit growth in constant exchange rates1 |
|
6.8% |
|
12.7% |
|
14.6% |
|
43.7% |
|
26.2% |
|
|
|||||||||
Depreciation, amortisation and impairment losses |
|
5,753 |
|
6,025 |
|
7,362 |
|
9,413 |
|
19,107 |
|
103% |
|||||||||
EBITDA1,2 |
|
59,879 |
|
64,669 |
|
82,171 |
|
111,987 |
|
147,446 |
|
32% |
|||||||||
EBITDA growth as reported |
|
3.0% |
|
8.0% |
|
27.1% |
|
36.3% |
|
31.7% |
|
|
|||||||||
EBITDA growth in constant exchange rates |
|
6.7% |
|
12.0% |
|
14.9% |
|
42.4% |
|
32.7% |
|
|
|||||||||
Net financials |
|
(996) |
|
436 |
|
(5,747) |
|
2,100 |
|
(1,148) |
|
|
|||||||||
Profit before income taxes |
|
53,130 |
|
59,080 |
|
69,062 |
|
104,674 |
|
127,191 |
|
22% |
|||||||||
Effective tax rate3 |
|
20.7% |
|
19.2% |
|
19.6% |
|
20.1% |
|
20.6% |
|
|
|||||||||
Net profit |
|
42,138 |
|
47,757 |
|
55,525 |
|
83,683 |
|
100,988 |
|
21% |
|||||||||
Purchase of property, plant and equipment3 |
|
5,825 |
|
6,335 |
|
12,146 |
|
25,806 |
|
47,164 |
|
83% |
|||||||||
Purchase of intangible assets3 |
|
16,256 |
|
1,050 |
|
2,607 |
|
13,090 |
|
4,145 |
|
(68%) |
|||||||||
Cash used for acquisition of businesses |
|
— |
|
18,283 |
|
7,075 |
|
— |
|
82,163 |
|
|
|||||||||
Free cash flow1 |
|
28,565 |
|
29,319 |
|
57,362 |
|
68,326 |
|
(14,707) |
|
|
|||||||||
Total assets |
|
144,922 |
|
194,508 |
|
241,257 |
|
314,486 |
|
465,795 |
|
48% |
|||||||||
Equity |
|
63,325 |
|
70,746 |
|
83,486 |
|
106,561 |
|
143,486 |
|
35% |
|||||||||
Financial ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Gross margin3 |
|
83.5% |
|
83.2% |
|
83.9% |
|
84.6% |
|
84.7% |
|
|
|||||||||
Sales and distribution costs in percentage of sales |
|
25.9% |
|
26.3% |
|
26.1% |
|
24.4% |
|
21.4% |
|
|
|||||||||
Research and development costs in percentage of sales |
|
12.2% |
|
12.6% |
|
13.6% |
|
14.0% |
|
16.6% |
|
|
|||||||||
Operating margin3 |
|
42.6% |
|
41.7% |
|
42.3% |
|
44.2% |
|
44.2% |
|
|
|||||||||
Net profit margin3 |
|
33.2% |
|
33.9% |
|
31.4% |
|
36.0% |
|
34.8% |
|
|
|||||||||
Cash to earnings1 |
|
67.8% |
|
61.4% |
|
103.3% |
|
81.6% |
|
(14.6%) |
|
|
|||||||||
Return on invested capital1 |
|
82.8% |
|
69.0% |
|
73.6% |
|
88.5% |
|
63.9% |
|
|
|||||||||
Share performance and capital allocation |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Basic earnings per share/ADR in DKK3 |
|
9.03 |
|
10.40 |
|
12.26 |
|
18.67 |
|
22.67 |
|
21% |
|||||||||
Diluted earnings per share/ADR in DKK3 |
|
9.01 |
|
10.37 |
|
12.22 |
|
18.62 |
|
22.63 |
|
22% |
|||||||||
Total number of shares (million), end of year |
|
4,700 |
|
4,620 |
|
4,560 |
|
4,510 |
|
4,465 |
|
(1%) |
|||||||||
Dividend per share in DKK4 |
|
4.55 |
|
5.20 |
|
6.20 |
|
9.40 |
|
11.40 |
|
21% |
|||||||||
Total dividend (DKK million)4 |
|
21,066 |
|
23,711 |
|
27,950 |
|
41,987 |
|
50,683 |
|
21% |
|||||||||
Dividend payout ratio3 |
|
50.0% |
|
49.6% |
|
50.3% |
|
50.2% |
|
50.2% |
|
|
|||||||||
Share repurchases (DKK million) |
|
16,855 |
|
19,447 |
|
24,086 |
|
29,924 |
|
20,181 |
|
(33%) |
|||||||||
Closing share price (DKK) |
|
214 |
|
368 |
|
469 |
|
698 |
|
624 |
|
(11%) |
|||||||||
|
|||||||||||||||||||||