Ipsen FY23 Profit Flat, Sales Rise; Sees Growth In FY24, Backs Mid-term View

(RTTNews) - French biopharmaceutical company Ipsen SA (IPSEY) Thursday reported that its fiscal 2023 IFRS consolidated net profit was 647.2 million euros, nearly flat with last year's 647.5 million euros.

IFRS earnings per share dropped 1 percent to 7.73 euros from 7.81 euros last year.

Core consolidated net profit was 765.5 million euros, compared to 872.4 million euros in the prior year. Core earnings per share were 9.15 euros, compared to 10.51 euros a year ago.

Total sales grew 3.4 percent to 3.13 billion euros from last year's 3.03 billion euros. Sales went up 6.7 percent at constant cexchange rates.

In the fourth quarter, sales were 818.5 million euros, up 0.2 percent on a reported basis and up 5.4 percent at constant exchange rates.

Looking ahead for fiscal 2024, the company projects total-sales growth greater than 6.0 percent, at constant currency, and core operating margin around 30 percent of total sales, higher than last year's 26.1 percent.

Ipsen anticipates four commercial launches in 2024, following regulatory decisions for Onivyde in 1L PDAC in the U.S, elafibranor in second-line PBC in the U.S. and in the E.U., as well as odevixibat in Alagille syndrome in the E.U.

Over the mid-term, the company still project total-sales average growth of at least 7 percent per year for the period 2023-2027 at constant exchange rates, and a core operating margin in 2027 of at least 32 percent of total sales.

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