Corporate Presentation
2023 FY Profit & Loss
ZBAL&
ZEALAND PHARMA
DKK million
Revenue
2023 FY
2022 FY
342.8
104.0
Gross profit
323.6
104.0
Research and development expenses
-684.9
-614.0
Sales and marketing expenses
-30.6
-32.3
General and administrative expenses
-185.3
-237.2
Other operating Items
5.0
-57.6
P&L reflecting Zealand's investment in its differentiated assets targeting
obesity
•
Revenue of DKK 343 million is driven by milestones from Boehringer Ingelheim for
survodutide and Sanofi for lixisenatide, the agreement with Novo Nordisk for
ZegalogueⓇ and proceeds from the agreement with Alexion.
• Total operating expenses of DKK 896 million are slightly lower than last year, driven
by lower G&A expenses due to cost reduction efforts following the announced
restructuring on March 30, 2022, offset by higher R&D expenses. 76% of OPEX
allocated to R&D driven by investments in the clinical advancement of the obesity
pipeline and progression of the late-stage rare disease assets.
•
The loss in net financial items relates primarily to the final repayment and termination
of the loan agreement with Oberland Capital in May 2023 (DKK 137 million).
Net operating expenses
-895.8
-941.1
Operating result
-572.2
-837.2
2023 FY OPEX composition
Net financial items
Result before tax
Tax
-136.6
-134.9
DKKm
-708.9
-972.0
185
(20%)
-5
(-1%)
5.1
6.4
Research and development
Sales and marketing
General and administration
Other operating items
31
(3%)
Net result for the year from continuing
operations
-703.7
-965.6
Discontinued operations
Net result for the year
-236.5
-703.7
-1,202.1
685
(76%)
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