Half-year results 2024: strong start into UCB’s decade of growth

At UCB, we are on a remarkable journey. Our growth is just beginning, fueled by a clear focus on delivering differentiated medicines to people living with severe diseases. This commitment has translated into a portfolio of solutions, composed of our growth drivers and foundational medicines, delivering impressive results, and marking the strong beginning of a decade+ of growth. In this blog post, I will share our financial performance, key regulatory milestones, and outlook, illustrating how we are once again delivering on our commitments.

We commenced 2024 with strong momentum, launching several successful products and experiencing significant growth, positioning us for an upward trajectory over the next decade.

The impressive mid-year performance for 2024 tells a story of dedication and commitment. Our intensified investments and exploration of new growth avenues have set UCB on a path of strong growth. Experiencing double-digit growth – after double-digit decline in the first half of 2023 -, our robust product portfolio and successful launches have brought us here. The underlying profitability, marked at €652 million, representing 23% of our revenue, is a testament to the solid groundwork, smart reallocation of resources and significant investments in product launches.

Our half-year 2024 performance is marked by accelerated launch investments and emerging growth. The newly launched growth drivers have shown strong performance – the combined five new products alone reached more than € 500 million net sales. Revenue reached €2.79 billion, with net sales reaching €2.64 billion increasing by 11% at actual rates.

Regulatory Approvals
In regulatory milestones, securing five filings with the U.S. regulatory authority, and five approvals for the EU and Japan as well as China are remarkable. With our growth drivers now offering treatment options against a range of ailments from generalized myasthenia gravis to epilepsy, our compassionate commitment to patient care shines through.

Enhanced ESG Ratings
We are proud to have improved our ESG ratings from ISS ESG and Sustainalytics. This achievement places UCB among the top 10% of pharmaceutical and biotech companies globally. It reflects our commitment to ethical responsibility and sustainable practices. We are also pleased with the growing access to our medicines across our regions, reflecting our efforts to create value for patients and all stakeholders, now and into the future.

Financial Guidance for 2024
Looking ahead, we are optimistic about our financial performance for the rest of the year. We have confirmed and fine-tuned our financial guidance for 2024, with the following expectations:

• Revenue expected now at the top-end of the range of € 5.5-5.7 billion
• Adjusted EBITDA: 23.0-24.5% of revenue
• Core EPS: € 3.70-4.40

Our achievements in the first half of 2024 underscore our dedication to innovation, patient care, and sustainable growth. Our commitment to pushing the boundaries of what's possible, driven by a genuine concern for bettering lives, guides everything we do. UCB's future is bright, and we are excited to continue this journey of progress and improvement.

Thank you for your continued support and interest in UCB. Together, we will make a difference in the lives of people living with severe diseases worldwide.

Stay tuned for more updates as we move forward into the second half of the year.