AstraZeneca PLC - Fourth Quarter and Full Year Results 2006
“AstraZeneca reports strong financial results
for 2006, with EPS up 34 percent, and progress in strengthening the
pipeline; Company continues to drive productivity
improvements.”
Financial Highlights
| Group | 4th Quarter 2006 $m | 4th Quarter 2005 $m | Actual % | CER % | Full Year 2006 $m | Full Year 2005 $m | Actual % | CER % |
| Sales | 7,154 | 6,286 | +14 | +11 | 26,475 | 23,950 | +11 | +11 |
| Operating Profit | 2,003 | 1,636 | +22 | +24 | 8,216 | 6,502 | +26 | +28 |
| Profit before Tax | 2,103 | 1,689 | +25 | +26 | 8,543 | 6,667 | +28 | +29 |
| Earnings per Share | $0.93 | $0.77 | +21 | +22 | $3.86 | $2.91 | +33 | +34 |
| Adjusted to exclude Toprol-XLTM in US** | ||||||||
| Sales | 6,878 | 5,940 | +16 | +13 | 25,093 | 22,659 | +11 | +11 |
| Earnings per Share | $0.83 | $0.66 | +26 | +29 | $3.36 | $2.50 | +35 | +36 |
** This Non-GAAP
presentation excludes US sales and earnings contribution from
Toprol-XLTM from both current year and prior year
periods.
All narrative
in this section refers to growth rates at constant exchange rates
(CER) unless otherwise indicated
• Sales for the full year increased by 11 percent to $26,475 million.
• Strong performance of five key growth products (NexiumTM, SeroquelTM, CrestorTM, ArimidexTM and SymbicortTM) with combined sales reaching $13,318 million, up 23 percent for the full year.
• Operating profit increased by 28 percent for the full year to $8,216 million. Operating margin improved by 3.8 percentage points to 31.0 percent of sales.
• Free cash flow of $6,788 million for the full year. Returns to shareholders totalled $5,382 million (dividends $2,220 million; net share repurchases $3,162 million).
• Since December 2005, the Company has entered into twelve significant licensing and acquisition projects and nine significant research collaborations.
• On 11 January 2007, AstraZeneca announced a worldwide collaboration with Bristol-Myers Squibb to develop and commercialise two diabetes compounds, including saxagliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor in Phase III development.
• The Company continues to drive productivity; initiative to improve asset utilisation announced (see page 3).
• The Company anticipates earnings per share for 2007 (excluding any contribution from US sales of Toprol-
XLTM and excluding any one-off costs associated with productivity initiatives) in the range of $3.80 to $4.05 (compared with EPS in 2006 excluding Toprol-XLTM of $3.36).
•
Dividend increased by 32 percent to
$1.72 for the full year. Net share repurchases for 2007 set at $4
billion.
LONDON, 1
February 2007-David Brennan, Chief Executive Officer,
said:
“In 2006, AstraZeneca reported another strong set of
financial results and progress in strengthening the pipeline, but
more remains to be done. Our agenda is clear. We are determined to
maintain the sales momentum of our current product portfolio and to
continue to build a pipeline to sustain our growth, while driving
further productivity improvements and enhancing cash returns
to shareholders.”
Media Enquiries: Steve Brown/Edel McCaffrey (London) (020) 7304 5033/5034
Staffan Ternby (Södertälje) (8) 553 26107
Emily Denney (Wilmington) (302) 886 3451
Analyst/Investor Enquiries: Mina Blair/Jonathan Hunt/Karl Hård (London) (020) 7304 5084/5087/5322
Staffan Ternby (Södertälje) (8) 553 26107
Ed Seage/Jörgen Winroth (US) (302) 886 4065/(212) 579 0506
Pictures of senior executives are
available on www.newscast.co.uk.
Broadcast footage of AstraZeneca products and activities is
available on www.thenewsmarket.com/astrazeneca. Interviews with
David Brennan, Chief Executive Officer, Jon Symonds, Chief
Financial Officer and John Patterson, Executive Director
Development are available on www.astrazeneca.com
For full report, see attachments
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