NVO FY 2008 Earnings Report — Novo Nordisk A/S Revenue & Financial Results | Market Cap Arena

Novo Nordisk A/SNVO

FY 2008 Earnings

Reported December 30, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$7.2B	—	$6.6B	—	9.0%
Op. Income	$1.9B	—	$1.4B	—	38.5%
Gross Margin	77.8%	—	76.6%	—	1.2pp
Net Margin	21.2%	—	20.4%	—	0.8pp
EPS (Diluted)	$0.24	—	$0.21	—	15.7%
Free Cash Flow	$1.7B	—	$1.2B	—	43.4%

Revenue Flow

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$1.6B
GROSS PROFIT	$5.6B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	-$89M
Operating Expenses	$3.6B
Cost & Expenses	$5.2B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$50M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$480M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$384M
EBIT	$1.9B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$1.6B
GROSS PROFIT	$5.6B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	-$89M
Operating Expenses	$3.6B
Cost & Expenses	$5.2B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$50M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$480M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$384M
EBIT	$1.9B
EBITDA	$2.3B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$384M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$211M
Change in Working Capital	-$88M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$321M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$73M
Other Investing Activities	$30M
NET CASH FROM INVESTING	-$217M
Net Debt Issuance	-$24M
Common Stock Repurchased	-$742M
Common Dividends Paid	-$439M
Other Financing Activities	$839.4K
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$1.7B
Net Change in Cash	$646M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$217M
Net Receivables	$1.4B
Inventory	$1.5B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$2.9B
Goodwill	$0
Intangible Assets	$124M
Long-Term Investments	$0
Tax Assets	$267M
Other Non-Current Assets	$65M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$8.0B
Account Payables	$358M
Short-Term Debt	$210M
Deferred Revenue	$13M
Other Current Liabilities	$1.5B
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$154M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$379M
Other Non-Current Liabilities	$201M
TOTAL NON-CURRENT LIABILITIES	$734M
TOTAL LIABILITIES	$2.8B
Common Stock	$100M
Additional Paid-In Capital	$0
Retained Earnings	$5.3B
Treasury Stock	-$4M
Accum. Other Comp. Income	-$167M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$0
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$8.0B
Total Debt	$364M
Net Debt	-$1.0B