Novo Nordisk reported a significant increase in first-quarter profits, soaring up by 28% to reach 25.41 billion Danish kroner. Earnings per share also grew by 29%, valued at 5.68 kroner. The company's operating profit experienced a 27% rise, measured in Danish kroner, and a 30% escalation when calculated at constant exchange rates, amassing a total of 31.8 billion kroner.
Sales for the first quarter of 2024 also displayed notable growth, augmenting by 22% in Danish kroner. When calculated at constant exchange rates, the increase was 24%, totaling 65.35 billion Danish kroner in the first quarter.
For the fiscal year 2024, Novo Nordisk has revised its forecast. It now anticipates that operating profit growth will be between 22% and 30% when calculated at constant exchange rates. Given the current exchange rates against the Danish krone, the growth reported in the Danish currency is expected to align with the growth rate at constant exchange rates. This represents an increase from the previous estimate, which projected an operating profit growth rate of 21% to 29%.
In terms of sales growth for 2024, the company anticipates a 19% to 27% increase at constant exchange rates. As with the operating profit, given the current exchange rates, the sales growth reported in Danish kroner is expected to align with the growth rate at constant exchange rates. This is a minor bump from the prior projection which forecasted sales growth of 18% to 26%.