Investor Presentation First Nine Months of 2023
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Investor presentation
First nine months of 2023
Currency impact on Novo Nordisk's P/L
Operational currency impact
All movements in currencies will directly impact the
individual reported functional lines of the Novo
Nordisk's P&L statement
The currency effect on e.g. operating profit growth is
the difference between the reported growth and the
operating profit growth at CER
Key currencies account for around 80% of the total
currency exposure
No hedging effects are included in the operating profit
Sensitivity table gives an indication of gain/loss of a 5%
immediate change in exchange rates compared to
exchange rates on announcement day
DKK million
Income statement
Net sales
Cost of goods sold
2022
2021
176,954
(28,448)
140,800
(23,658)
Gross profit
148,506
117,142
Sales and distribution costs
(46,217)
(37,008)
Research and development costs
(24,047)
(17,772)
Administrative costs
(4,467)
(4,050)
Other operating income and expenses
Operating profit
Financial income
1,034
332
74,809
58,644
239'
•
2,887
Financial expenses
(5,986)
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Profit before income taxes
69,062
Income taxes
Net profit
(13,537)
55,525
(2,451)
59,080
(11,323)
47,757
Note: Example is based on Annual Report 2022
Earnings per share
Basic earnings per share (DKK)
24.51
20.79
Diluted earnings per share (DKK)
24.44
20.74
Novo NordiskⓇ
Financial currency impact
All gain/losses from hedging contracts are included in
the financial income/expenses
All key currencies are hedged:
•
USD 12 months
•
JPY 12 months
•
CAD 9 months
•
GBP 1 months
CNY 12 months
Hedging is primarily performed with the use of
forward contracts
Net financials includes hedging gain/loss including the
cost of hedging and the effect from currency
gain/losses of balances in non-hedged currencies
Hedging costs are the interest rate differentials
between DKK and hedged currenciesView entire presentation