Ipsen

IPN

Equity

ISIN FR0010259150 / Valor 2348805

Euronext - Euronext Paris (2024-09-18)

EUR 109.00-1.62%

Ipsen
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About company

Ipsen is a mid-sized global biopharmaceutical company that has been working in oncology since 1986. The company's portfolio includes treatments for various types of cancers, such as neuroendocrine tumor (NETs), kidney, liver, pancreas, thyroid, prostate, and breast cancer. Ipsen is dedicated to improving patients' lives through research, innovation, and the development of transformative medicines in Oncology, Rare Disease, and Neuroscience. The company also has ambitious goals in terms of ESG responsibility, focusing on Environment, Patients, People, and Governance as part of its Generation Ipsen strategy.

Summarized from source with an LLMView SourceSector: Healthcare

Total Sales Growth

In the first half of 2024, Ipsen reported a total sales growth of 9.5% at constant exchange rates (CER), or 8.0% as reported. This growth was primarily driven by the strong performances of Cabometyx® (cabozantinib) and Dysport® (abobotulinumtoxinA), along with contributions from Bylvay® (odevixibat) and Onivyde®.

Core Operating Margin

Ipsen's core operating margin for H1 2024 was 32.4%, which represents a decline of 1.6 percentage points compared to the same period in 2023. This decrease was mainly due to increased investment in research and development. The IFRS operating margin remained unchanged at 19.2%.

Upgraded Financial Guidance

Ipsen has upgraded its financial guidance for the full year 2024. The company now expects total sales growth to be greater than 7.0% at CER, up from the previous guidance of greater than 6.0%. Additionally, the core operating margin is anticipated to be greater than 30.0% of total sales, compared to the prior guidance of around 30%.

Core Consolidated Net Profit

For the first half of 2024, Ipsen reported a core consolidated net profit of €399.4 million, a 1.6% increase from €393.0 million in H1 2023. Core earnings per share (fully diluted) also saw a slight increase, reaching €4.78 compared to €4.73 in the same period last year.

Free Cash Flow and Net Debt

Ipsen's free cash flow for H1 2024 was €393.5 million, marking a 5.9% increase from €371.5 million in H1 2023. The company also reported a significant improvement in its closing net debt, which stood at €6.8 million, compared to €272.2 million at the end of H1 2023.

Summarized from source with an LLMView Source

Key figures

-13.4%1Y

32.4%3Y

19.4%5Y

Performance

23.5%1Y

28.0%3Y

37.5%5Y

Volatility