Report
Thomas Vranken

UCB FY24 results beat topline expectations, growth drivers unleashed

As UCB accelerates its product launches, revenue growth spikes to € 6.15bn (+19% CER), while 24.0% adj. EBITDA margin came in nicely in line with expectations. We deem FY25 revenue guidance of € 6.5-6.7bn rather cautious, slightly below our and CSS expectations, but still reflecting strong momentum for growth drivers Bimzelx, Zilbrysq, Rystiggo, Fintepla and Evenity. € 214 TP and Accumulate rating reiterated.
Underlying
UCB S.A.

UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Thomas Vranken

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