Sanofi Q1: robust 7% sales growth driven by launches, underpins full-year guidance
Paris, April 25, 2024
Sales growth of 6.7%at CER and business EPS(1)of €1.78
R&D transformation advanced further
Corporate Social Responsibility progress
Business EPS guidance reiterated
Paul Hudson, Chief Executive Officer, commented:
“We are off to an excellent start in 2024, delivering on our strategic priorities and a transformation of our portfolio of medicines and vaccines to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. Continued strong performance by Dupixent and our new launches drove sales growth of seven percent. In parallel, we are delivering on our promise of increased investments in our late-stage pipeline to fully realize its value for patients and Sanofi. We are awaiting regulatory decisions for Dupixent in COPD, a progressive disease with limited effective treatment options. If approved, Dupixent will be the first biologic treatment in COPD. With the robust progress in our portfolio transformation, we reaffirm our financial guidance for 2024.”
Q1 2024 | Change | Change at CER | |
IFRS net sales reported | €10,464m | +2.4% | +6.7% |
IFRS net income reported | €1,133m | -43.2% | _ |
IFRS EPS reported | €0.91 | -43.1% | _ |
Free cash flow(3) | €(309)m | -120.1% | _ |
Business operating income | €2,843m | -14.7% | -4.2% |
Business net income(1) | €2,219m | -17.8% | -7.4% |
Business EPS(1) | €1.78 | -17.6% | -7.4% |
Changes in net sales are expressed at constant exchange rates (CER) unless otherwise indicated (definition in Appendix 7). (1) In order to facilitate an understanding of operational performance, Sanofi comments on the business net income statement. Business net income is a non-IFRS financial measure (definition in Appendix 7). The consolidated income statement for Q1 2024 is provided in Appendix 3 and a reconciliation of reported IFRS net income to business net income is set forth in Appendix 4; (2) 2023 business EPS was €8.11; (3) Free cash flow is a non-IFRS financial measure (definition in Appendix 7).
Attachment
Source: Sanofi - Aventis Groupe