Connect with us
Prague Gaming & TECH Summit 2024

Fintech PR

Half year reported NPATA US$2 billion¹,² Up 13% at constant currency³

Published

on

half-year-reported-npata-us$2-billion¹,²-up-13%-at-constant-currency³

Strong CSL Behring portfolio growth especially Ig

FINANCIAL HIGHLIGHTS4

  • Revenue $8.05 billion, up 11% at CC3
  • NPAT $1.90 billion1, up 17%
  • NPAT $1.94 billion1 at CC3, up 20%
  • NPATA $2.02 billion1,2 , up 11%
  • NPATA $2.06 billion1,2 at CC3, up 13%
  • NPATA1,2 earnings per share $4.182, up 11%
    • NPATA1,2 earnings per share $4.26 at CC3 up 13%
  • Interim dividend 5 of US$1.19 per share
    • Converted to Australian currency, the interim dividend is approximately A$1.81 per share, up 12%
  • Guidance reaffirmed – FY24 NPATA2,4 anticipated to be in the range of approximately $2.9 billion to $3.0 billion2 at CC3 

MELBOURNE, Australia, Feb. 13, 2024 /PRNewswire/ — CSL Limited (ASX:CSL; USOTC:CSLLY) today announces a reported net profit after tax of $1.90 billion1 for the 6 months ended 31 December 2023, up 20% on a constant currency basis3. Underlying profit (NPATA) was $2.02 billion1,2, up 13% on a constant currency basis to $2.06 billion1,2,3.

Dr. Paul McKenzie, CSL’s Chief Executive Officer and Managing Director said, “Our strong first-half result for the 2024 financial year was driven by CSL Behring’s exceptional performance across its portfolio, especially immunoglobulins.  The plasma initiatives we have implemented are starting to drive gross margin recovery.

“CSL Seqirus achieved solid growth in a challenging season.  Its portfolio of differentiated products outperformed the market.

“For CSL Vifor we are well prepared for the transitioning iron market.”  

PERFORMANCE

CSL Behring

Total revenue was $5,238 million, up 14%3 when compared to the prior comparable period.

Immunoglobulin (Ig) product sales of $2,757 million, increased 23%3 with strong growth recorded across all geographies driven by global plasma supply and patient demand.

PRIVIGEN®  / INTRAGRAM® (Immune Globulin Intravenous (Human), 10% Liquid) sales grew 27%3 as the momentum from the prior year continued in improving product availability and patient diagnosis rates.

HIZENTRA® (Immune Globulin Subcutaneous (Human), 20% Liquid) sales were up 18%3 driven by  patient diagnosis rates.  HIZENTRA® continues to be the clear market leader for subcutaneous immunoglobulin.

Underlying demand for Ig continues to be strong due to significant patient needs in core indications – namely Primary Immune Deficiency, Secondary Immune Deficiency and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).

Albumin sales of $613 million, were up 8%3

Sales were strong in emerging markets with solid growth in the US and Europe.  Growth in China was modest, tempered by competitive pressure.

Haemophilia product sales of $662 million increased 8%3.

IDELVION®, CSL Behring’s novel long-acting recombinant factor IX product achieved growth of 7%3  and continues to be the market leader in key markets.

HEMGENIX®, the first and only gene therapy for haemophilia B was successfully launched in the US in FY23 and patient referrals have been accelerating.

The haemophilia A market continued to be competitive resulting in a modest decline in sales for AFSTYLA®, a novel recombinant factor VIII product.

Plasma-derived haemophilia products, however, achieved growth of 8% driven by HUMATE® / HAEMATE®, therapies for the treatment of patients with von Willebrand disease.

Specialty products sales of $976 million, were up 6%3 led predominately by demand for KCENTRA® and HAEGARDA®.  

KCENTRA® (4 factor prothrombin complex concentrate) recorded sales growth of 12%3, as it continues to further penetrate the warfarin reversal market in the US.

HAEGARDA®, our therapy for patients with Hereditary Angioedema, increased 9%, driven by the continued shift from on-demand to prophylaxis treatment and a strong performance in the UK and Europe.

Garadacimab (Anti-FXIIa) for HAE, was filed for regulatory approval in the US and EU.

Plasma Collections

Plasma collections remain strong.  The cost of collections, which includes donor compensation and labour, continued to trend down. 

A new roll out plan for the RIKA plasmapheresis devices was developed.  Deployment across the US fleet is expected over the next 18 months.  In addition, results from an individualised nomogram trial conducted by our supplier have been submitted for regulatory approval.

CSL Seqirus

Total revenue of $1,804 million, was up 2%3 driven by the adjuvanted influenza vaccine FLUAD®, which increased by 14%3.

This growth was achieved against a backdrop of reduced rates of immunisation and highlights the strength of CSL Seqirus’ differentiated product portfolio.

During the period:

  • Self-amplifying mRNA vaccine for COVID was approved by Japan’s Ministry of Health, Labour and Welfare
  • aQIVc, a next generation influenza vaccine combining adjuvant technology with cell-based manufacturing, enrolled its last patient in the Phase III clinical study in January 2024.

CSL Vifor

Total revenue was $1,011 million.  The prior comparable period included only 5 months revenue following the acquisition of Vifor Pharma in August 2022.  

During the period:

  • Preparations were made for the transitioning iron market
  • There was strong performance from the long-acting erythropoiesis-stimulating agent, MIRCERA®
  • TAVNEOS® was successfully launched in multiple European countries

While the strategic potential of the business remains strong, we have dampened our near-term growth aspirations for CSL Vifor.

Expense Performance

Research and development (R&D) expenses were $669 million8 , up 11%3 when compared to the prior comparable period.  The increase in expenses reflects higher costs associated with the progression of the R&D portfolio and investment in R&D infrastructure.

Selling and marketing expenses (S&M) were $707 million8, up 2%3 in comparison to the prior comparable period.  An additional month of CSL Vifor and an increase in labour costs accounts for the increase in S&M expenses while other S&M expenses were held in line with the prior comparable period.

General and administrative (G&A) expenses were $323 million8, down 7%3  due to favourable foreign exchange differences and efficiencies generated from the centralisation of the group’s Enabling Functions.

Depreciation and amortisation (D&A) expense (excluding acquired intellectual property) was $297 million, up 1%3. 

Net finance costs were $234 million9, up 32%3.  The increase in net finance costs was due to the debt associated with the acquisition of Vifor Pharma and higher interest rates.

Financial position

Cashflow from operations was $1,069 million, up 9%. The increase was driven by higher profitability and overall growth in sales. This was partly offset by higher payments for income tax and interest.

Cash outflow from investing was $702 million, down significantly when compared to the prior comparable period as payment for the acquisition of Vifor Pharma was made in the prior period.

CSL’s balance sheet remains in a strong position with net assets of $19,162 million.

Current assets increased by 10% to $10,146 million. The main driver was an increase in receivables due to the increase in sales and the seasonality of CSL Seqirus.

Non-current assets increased by 1% to $27,158 million in comparison to the previous year.

Current liabilities increased by 2% to $4,718 million. The increase in interest-bearing liabilities and borrowings (bank debt) was offset by the decrease in trade and other payables and current tax liabilities.

Non-current liabilities decreased by 3% to $13,424 million. The decrease was due to the reclassification of certain bank borrowings as current, coupled with repayment across the Group’s debt portfolio including the private placement senior notes.

Outlook (at FY23 exchange rates)

Commenting on CSL’s outlook, Dr. McKenzie said, “For FY24, I am pleased to reaffirm our previous guidance.  CSL’s underlying profit, NPATA is expected be in the range of approximately $2.9 billion to $3.0 billion at constant currency3, representing growth over FY23 of approximately 13-17%[6]”

“CSL is in a strong position to deliver annualised double-digit earnings growth over the medium term.

“The strong growth in our immunoglobulins franchise is expected to continue as patient demand remains strong.

“We have a number of initiatives underway in plasma collections that are improving efficiencies and processing times, supporting continued expansion in CSL Behring’s gross margin.

“Our transformational gene therapy product for haemophilia B patients, HEMGENIX®, is attracting significant interest from patients and health care professionals and patient referrals have accelerated.  We expect more patients dosed in the second half of this financial year.

“CSL Seqirus has performed well in a challenging season.  However, due to the seasonality of this business we anticipate it to post a loss in the second half of the fiscal year.

“For CSL Vifor, we are operating within an evolving iron market. While there are challenges for near-term growth, we are well positioned for iron competition in the EU and further geographic expansion.  Our focus remains on unlocking value by leveraging capabilities across the CSL group”, Dr. McKenzie concluded.

In compiling the company’s financial forecasts for FY24, a number of key variables that may have a significant impact on guidance have been identified and these have been included in the endnote[7].

FURTHER INFORMATION

Additional details about CSL’s results are included in the company’s 4D statement, investor presentation slides and webcast, all of which can be found on CSL’s website www.csl.com  A glossary of medical terms can also be found on the website. 

Group Results

Half year ended December

US$ Millions

Dec  
2022
Reported

Dec  
2023
Reported

Dec
2023
at CC3

Change
%

Sales

6,943

7,804

7,707

11 %

  Other Revenue / Income

241

249

247

2 %

Total Revenue / Income

7,184

8,053

7,954

11 %

Earnings before Interest, Tax, Depreciation & Amortisation

2,515

3,042

3,047

21 %

  Depreciation/Amortisation

(293)

(297)

(296)

1 %

Other acquisition adjustments

Earnings before Interest and Tax8

   184

2,406   

50   

2,795   

49   

2,800   

16 %

  Net Interest Expense

(171)

(234)

(226)

32 %

  Tax Expense8

(358)

(491)

(465)

30 %

NPATA2

1,877

2,070

2,109

12 %

Amortisation of acquired intellectual property

(88)

(132)

(129)

Other acquisition adjustments

(184)

(50)

(49)

Income tax on the above adjustments

35

32

31

Net Profit After Tax

1,640

1,920

1,962

20 %

NPATA attributable to:

–          Shareholders of CSL Limited

1,818

2,017

2,056

13 %

–          Non-controlling interest

59

53

53

NPAT attributable to:

–          Shareholders of CSL Limited

1,623

1,901

1,942

20 %

–          Non-controlling interest

17

19

20

NPATA2 earnings per share1

Interim Dividend (US$)              

3.77   

1.07   

4.18   

1.19   

11%9

11%9

1 Attributable to CSL shareholders
2 Statutory net profit after tax (NPAT) before impairment and amortisation of acquired intellectual property, business acquisition and integration costs and the unwind of the inventory fair value uplift.
3 Constant currency (CC) removes the impact of exchange rate movements, facilitating the comparability of operational performance. For further detail refer to CSL’s Financial Statements for the Half Year ended December 2023 (Directors Report).
4 All figures are expressed in US dollars unless otherwise stated.
5 For shareholders with an Australian registered address, the interim dividend of US$1.19 per share (approximately A$1.81) is expected to be paid on 3 April 2024. For shareholders with a New Zealand registered address the interim dividend of US$1.19 per share (approximately NZ$1.94) is expected to be paid on 3 April 2024. The exchange rates will be fixed at the record date of 12 March 2024. All other shareholders will be paid in US$. CSL also offers shareholders the opportunity to receive dividend payments in US$ by direct credit to a US bank account.
6 % growth rates excludes the one-off gain from the sale of property in FY23 (NPATA $44m).
7 Key variables that could cause actual results to differ materially include: the success and timing of research and development activities; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; ability to collect plasma; trade buying patterns and fluctuations in interest and currency exchange rates; legislation or regulations that affect product production, distribution, pricing, reimbursement, access or tax; acquisitions and divestitures; research collaborations; litigation or government investigations; and CSL’s ability to protect its patents and other intellectual property.
8 Underlying results are adjusted to exclude amortisation of acquired intellectual property ($132 million), business acquisition and integrations costs and the unwind of the inventory fair value uplift.
9 At reported currency

For further information, please contact:

Investors:
Bernard Ronchi
Director, Investor Relations
CSL Limited
P: +61 3 9389 3470
E: [email protected]

Stephen McKeon
Director, Investor Relations
CSL Limited
P: +61 402 231 696
E: [email protected]

Media:
Jimmy Baker
Communications
CSL Limited
P: +61 450 909 211
E: [email protected] 

Logo – https://mma.prnewswire.com/media/341673/4541616/csl_behring_logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/half-year-reported-npata-us2-billion-up-13-at-constant-currency-302060221.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

United Imaging Showcases AI-Driven Innovations and Expands European Presence at ECR 2024

Published

on

united-imaging-showcases-ai-driven-innovations-and-expands-european-presence-at-ecr-2024

VIENNA, Feb. 23, 2024 /PRNewswire/ — United Imaging, a global leader in medical technology, is showcasing its full portfolio of AI-empowered innovations at the European Society of Radiology (ECR) 2024 in Vienna, Austria.  The company highlights its significant EU growth since establishing its regional headquarters in Poland in 2019.

Dr. Al Zhang, Ph.D, Chairman & Co-CEO of United Imaging, stated, “The theme of this year’s ECR, ‘next-generation radiology,’ aligns seamlessly with our innovation philosophy. We’re not just thinking about today; we’re actively shaping the future. At United Imaging, all our innovations are AI-driven, enhancing clinical workflows and supporting diverse scenarios, solidifying our commitment to delivering value to the global medical community. Our future-ready innovation strategy has propelled us to significant global growth.”

Lukasz MIZERKA, vice president of United Imaging international business and general manager for Europe, added, “Last March, we held our first brand launch at ECR, officially introducing our passion for change to the European market. During the year, we achieved swift progress, extending our footprint to numerous European countries with our high-end equipment, serving as testament to the resonance of our mission of bringing ‘equal healthcare for all’. This year marks both our second ECR and fifth year in Europe, and we’re going to present our full portfolio of groundbreaking products and numerous world-first innovations to showcase our confidence and persistence in Europe. We eagerly await everyone to witness our changes and embrace the bright future ahead.”

In five years, United Imaging has introduced hundreds of systems and reached 16 European countries, offering efficient and professional service. Globally, United Imaging’s products have reached more than 12,000 institutions in over 60 countries, including the U.S., France, Italy, Japan, Korea, and the UAE. Also, the company’s top-tier technologies have led to collaborations with prestigious institutions such as Yale University, UC Davis, Washington University in St. Louis, and University of Texas.

Highlighting the growth at ECR 2024, United Imaging will feature the uMR Jupiter 5T (not CE marked in EU) at ECR 2024, a revolutionary whole-body 5T MRI system. The world’s first whole-body ultra-high field 5T MR, the uMR Jupiter 5T, is a revolutionary whole-body 5T MRI system. It transcends the traditional constraints of ultra-high-field MRI, previously confined to imaging of the brain and selected MSK joints. The potential applications of the uMR Jupiter 5T extend to encompass not only the brain and MSK, but also the abdomen, cardiac, pelvis and other additional anatomical regions. The uMR Jupiter 5T has the potential to eclipse the capabilities of standard 3T MRI machines in resolution and signal-to-noise ratio, delivering clarity that empowers radiologists to ‘see the unseen.’ The uMR Jupiter 5T is also designed to overcome the key hurdles of ultra-high field MRI: image uniformity and radio frequency safety. It fits into existing 3T MRI spaces, signaling a significant advancement in the industry.

Pioneering the digital transformation of medical imaging, the booth will also feature AI platforms for the full portfolio of innovations. The uAIFI is an end-to-end technology platform that revolutionarily enhances MRI with AI-integrated hardware and software, significantly improving image quality and expediting diagnostic processes while enhancing user-friendliness. Pioneering with care, the uAIFI offers a holistic approach across the care continuum. Standout features include ACS, the AI-assisted MR acceleration technology designed to enhance both 2D and 3D imaging, and EasySense respiratory gating and monitoring, offering a unique, belt-free experience for patients while simultaneously streamlining the workflow for healthcare professionals, redefining the image quality standard. Evolving intelligently, this future-oriented, human-centered platform undoubtedly brings a new level of AI integration to uMR systems. In tandem with uMI scanners, uExcel is a multi-dimensional molecular imaging technology platform. It aims to meet the advanced demands for functionality, usability, safety, stability, and scientific research. Combined with uExcel UDP, the ultra-digital-platform detector, uExcel SCAN, the smart scanning toolset, uExcel CARE, the AI reconstruction engine, uExcel QA, the efficient quality control system and uExcel EXPLORE, the suite for scientific research, this platform empowers the exploration with ease and innovation both today and tomorrow, promising a more comfortable experience for patients, and a more effective workflow for doctors. Furthermore, the uVera Technology empowers the DSA system with intuitively bionic ability by intelligence-driven robotics, perception, and imaging. And the All-In-One Solution redefines radiotherapy workflow efficiency from CT simulation to treatment delivery.

Adhering to the “Born with AI” philosophy and aligning with the theme of this year’s ECR, “Next Generation Radiology,” United Imaging Intelligence (UII), an AI company within the United Imaging Group’s portfolio, will demonstrate how the fusion of AI is revolutionizing healthcare, highlighting the company’s comprehensive approach to innovation. At the company’s booth this year, UII is poised to showcase its latest medical AI technological breakthroughs, including groundbreaking AI applications of large medical image models and surgical planning, as well as a full spectrum of medical AI solutions across neurology, cardiology, thoracic care, and oncology.

In terms of novel AI applications, UII will unveil the uAI SAT, a smart annotation tool powered by the large medical image model, as well as the next generation of uAI Pioneer Portal, which is equipped with a goggle-less 3D monitor controlled by hand gestures. The audience will experience advancements in 3D surgical planning for thoracic, hepatobiliary, and urological surgeries. Additionally, with a wide array of clinical solutions, UII will also present its support throughout the entire clinical workflow from imaging and prevention to diagnosis, treatment, follow-up assessment, and research.

Aiming at propelling radiology into a new era of transformation, UII has deployed its innovative products in over 3,000 medical institutions worldwide and formed research and product collaborations in Europe, remaining steadfast in further expanding development and partnerships across the globe, thus universally enhancing medical AI accessibility.

(Notes: Products and features mentioned herein may not be commercially available in all countries. Their future availability cannot be guaranteed.)

Attendees of the ECR are welcome to explore the forefront of radiology at booth 401 – Expo X4, where United Imaging persists in connecting innovation with patient well-being through cutting-edge technologies.

View original content:https://www.prnewswire.co.uk/news-releases/united-imaging-showcases-ai-driven-innovations-and-expands-european-presence-at-ecr-2024-302068566.html

Continue Reading

Fintech PR

Flash News: Native Integrates OKX Wallet for Seamless Access

Published

on

flash-news:-native-integrates-okx-wallet-for-seamless-access

SINGAPORE, Feb. 22, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for February 23, 2024.

OKX Wallet’s browser extension is now integrated with Native, the invisible decentralized exchange (DEX) layer that allows each DEX to be owned by an individual project. By integrating OKX Wallet, Native users can now easily connect their wallets to access the DEX network’s deep liquidity pools directly from the Native interface.

The integration gives Native traders improved convenience by enabling decentralized trading without leaving Native. Users also maintain control of their private keys while trading on Native’s DEX layer, improving security.

OKX Wallet is a secure and user-friendly crypto wallet and gateway to decentralized apps. By integrating with Native, OKX Wallet gives its users access to Native’s broad DEX liquidity pools and trading capabilities. This creates a smooth, seamless trading experience for the Native community.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

Logo – https://mma.prnewswire.com/media/2014295/OKX_Logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/flash-news-native-integrates-okx-wallet-for-seamless-access-302069386.html

Continue Reading

Fintech

Revolut introduces robo-advisor service in the Republic of Ireland

Published

on

revolut-introduces-robo-advisor-service-in-the-republic-of-ireland

 

Revolut, the global financial super-app with a customer base exceeding 35 million worldwide, has recently unveiled its Robo-Advisor service in Ireland.

The company, known for its innovative approach to banking and financial services, aims to simplify the investment process for its users.

The introduction of the Robo-Advisor is a response to the growing demand for accessible investment options. Many potential investors find the research and management of investments time-consuming and complex, especially those with limited trading experience or those who cannot dedicate time to actively manage their portfolios.

Revolut operates as a financial super-app, offering a wide range of services from traditional banking to cryptocurrency trading. The app is designed to be a one-stop solution for users’ financial needs, making it easier to manage money in a fast-paced digital world.

The new Robo-Advisor service is designed to automate the investment process. By answering a series of questions, customers can have a fully diversified and customized portfolio created for them. This portfolio is then automatically managed, with investments made based on the customer’s risk tolerance and financial goals. The minimum investment to access the Robo-Advisor is EUR 100, with an annual management fee of 0.75% of the portfolio value.

Additional features of the Robo-Advisor include the ability for customers to set up recurring transfers from as little as EUR 10, allowing for regular portfolio growth and minimization of the impact of market volatility. The service also automatically rebalances portfolios and conducts periodic reviews to ensure alignment with the customer’s investment objectives.

Rolandas Juteika, Head of Wealth and Trading (EEA) said, “We are excited to add a Robo-Advisor to our suite of wealth and trading products. We know that many of our customers do not have the time to manage a portfolio or invest in individual securities. In fact, 53% of customers we surveyed last year said they simply don’t know where to start when it comes to investing. Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free solution.”

Revolut’s recent expansion of its investment offerings across the EEA, including shares of European listed companies and the introduction of Trading Pro for advanced traders, highlights its commitment to providing comprehensive financial solutions. With over 2,200 US-listed securities, 220+ EU-listed securities, and 270 ETFs available through the app, Revolut continues to enhance its platform, making investing more accessible to a broader audience.

Investment services in the EEA are provided by Revolut Securities Europe UAB, which is regulated by the Bank of Lithuania. While Revolut aims to make investing straightforward and efficient, it’s important for customers to remember that investments carry risks, including the potential for loss and currency fluctuations.

Source: Fintech Global

The post Revolut introduces robo-advisor service in the Republic of Ireland appeared first on HIPTHER Alerts.

Continue Reading

Trending