ANNUAL REPORT 2021
LUNDBECK
ANNUAL REPORT 2021
= CONTENTS
47/111
**
THE LUNDBECK
SHARE
2021 was an eventful year for Lundbeck
with solid financial results and
continued progression against our
Expand and Invest to Grow strategy.
The Lundbeck share price began the
year at DKK 208.80 (closing price end
2020), reached a year high of DKK
258.10 (16 February), recorded a year
low of DKK 152.45 (14 December) and
ended the year at DKK 168.85. This is a
decrease of 19% for the year. In
comparison, the Danish OMXC25 index
increased by 17%, while the MSCI
European Pharmaceutical Index
increased by 20%.
https://www.lundbeck.com/global/investors/the-share/analyst-coverage
https://www.lundbeck.com/global/investors/reports-and-presentations
TURNOVER
Total trading in Lundbeck shares amounted to DKK 22.9 billion
in 2021, while the average daily turnover was DKK 91.1 million,
a decrease of 17% compared to 2020. A total of 117 million
shares were traded in 2021, equivalent to 464,493 shares per
day, a decrease of 7% compared to 2020.
Lundbeck has an American Depository Receipt (ADR) Level 1
program. The ADR volume decreased slightly during 2021. At
the end of 2021,208,407 ADRs were outstanding, representing
0.1% of the total shares or 0.3% of the free float.
SHARE CAPITAL
Lundbeck shares are listed on the Copenhagen Stock
Exchange, Nasdaq Copenhagen. All shares belong to the same
class and rank equally. The shares are negotiable and there are
no restrictions on their transferability. Each share has a nominal
value of DKK 5 and carries one vote. At the end of 2021,
Lundbeck's total share capital amounted to DKK 996 million,
which is equivalent to 199.2 million shares.
COMPOSITION OF SHAREHOLDERS
According to the Lundbeck share register, the company had
approximately 66,000 shareholders at the end of 2021,
representing approximately 99% of the outstanding shares. The
Lundbeck Foundation (Lundbeckfond Invest A/S) is the
company's largest shareholder, holding 137,351,918 shares at
the end of 2021, which equals 69% of the share capital and
voting rights.
The Lundbeck Foundation is the only shareholder to report a
holding in excess of 5% of the share capital. At the end of 2021,
investors in North America held 28% of the free float compared
to 32% in 2020; European (excl. Danish) investors held 27%
compared to 31% in 2020; Danish investors held 17%
compared to 14% in 2020; rest of the world held 2%, compared
to 4% in 2020, and other investors, incl. private, held 27%
compared to 19% in 2020.
In order to fund our long-term share-based incentive programs,
Lundbeck acquired treasury shares in 2021 at a value of DKK
34 million (DKK 29 million in 2020), corresponding to 144,000
shares (114,000 shares in 2020).
At the end of 2021, Lundbeck's Board of Directors and
Executive Management held a total of 156,384 Lundbeck
shares compared to 137,883 Lundbeck shares by the end of
2020. The total number of shares in 2021 corresponds to 0.08%
of the total shares outstanding.
LUNDBECK AND THE EQUITY MARKET
Through the Investor Relations (IR) function, Lundbeck aspires
to provide a fair and accurate view of its activities by providing
ongoing communications with prospective and existing
shareholders and equity analysts. Through regular meetings
and dialogue, we convey relevant information about our vision
and goals, business areas and financial development.
In 2021, IR activity was materially impacted by the global
pandemic with lockdowns and travel restrictions. Lundbeck's
Investor Relations team held more than 250 meetings, most of
them based on digital platforms such as Teams and Zoom.
Lundbeck has also participated/presented at 12 investor
conferences, again most of which were virtual.
Lundbeck is currently covered by 18 sell-side analysts, incl. the
major global investment banks that regularly produce research
reports on Lundbeck. A list of analysts covering Lundbeck is
available on www.lundbeck.com*.
After the announcement of our interim and full-year reports,
members of Lundbeck's Executive Management and Investor
Relations team always conduct roadshows to inform investors
and analysts about the company's latest developments. Our
investor presentations are available for download on
www.lundbeck.com**.View entire presentation