9M 2023 Financial Performance

Full year figures: EBIT and Adjusted EBITDA 9M 2023: APPENDIX DKKm 2022 2021 2020 2022 (A%) Revenue Cost of sales 18,246 16,299 17,672 12% 3,951 3,648 4,166 8% Sales & Distribution (S&D) costs 6,610 5,885 5,946 12% Administrative expenses 1,079 933 966 16% Research & Development (R&D) costs 3,754 3,823 4,545 (2%) Total operating expenses 15,394 14,289 15,623 8% EBIT 2,852 2,010 1,990 42% EBITDA 4,663 3,720 4,783 25% Adjusted EBITDA Cost of sales S&D R&D 4,823 3,990 21% 21.7% 22.4% 23.6% 36.2% 36.1% 33.6% Administrative expenses 5.9% 5.7% 5.5% 20.6% 23.5% 25.7% EBIT margin 15.6% 12.3% 11.3% EBITDA margin 25.6% 22.8% 27.1% Adjusted EBITDA margin 26.4% 24.5% 17 47 Lundbeck

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