Investor Presentation: First Nine Months of 2020
15
Investor presentation
First nine months of 2020
Financial results - First nine months of 2020
First nine
months of
First nine
months
Change
(reported)
Change
(CER)
In DKK million
Sales
Gross profit
Gross margin
2020
of 2019
94,808
79,495
83.8%
89,604
6%
7%
74,948
6%
83.6%
Sales and distribution costs
23,162
22,287
4%
5%
Percentage of sales
24.4%
24.9%
Research and development costs
10,979
9,836
12%
12%
Percentage of sales
11.6%
11.0%
Administration costs
2,760
2,772
0%
1%
Percentage of sales
2.9%
3.1%
Other operating income, net
354
557
(36%)
Operating profit
42,948
Operating margin
45.3%
40,610
45.3%
6%
7%
Financial items (net)
(1,820)
(3,136)
(42%)
Profit before income tax
41,128
37,474
10%
Income taxes
8,308
7,240
15%
Effective tax rate
20.2%
19.3%
Net profit
32,820
30,234
9%
Diluted earnings per share (DKK)
14.00
12.68
10%
CER: Constant exchange rates
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