Investor Presentation First Nine Months of 2022
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Investor presentation First nine months of 2022
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 65-85% 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
Cost of goods sold
Gross profit
Note: Example is based on Annual Report 2021
Novo NordiskⓇ
DKK million
2021
2020
Income statement
Net sales
140,800
126,946
(23,658)
(20,932)
Financial currency impact
All gain/losses from hedging contracts are included in
the financial income/expenses
All key currencies are hedged:
•
117,142
106,014
USD 12 months
•
iSales and distribution costs
Research and development costs
Administrative costs
JPY 12 months
(37,008)
(32,928)
•
CAD 9 months
(17,772)
(15,462)
(4,050)
(3,958)
GBP 11 months
Other operating income and expenses
332
460
•
CNY 0 months
Operating profit
58,644
54,126
Financial income
2,887
1,628
Financial expenses
(2,451)
(2,624)
Profit before income taxes
59,080
53,130
Income taxes
(11,323)
(10,992)
NET PROFIT
47,757
42,138
Basic earnings per share (DKK)
20.79
18.05
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 currencies
Diluted earnings per share (DKK)
20.74
18.01View entire presentation