SOURCE: UCB

March 03, 2009 01:07 ET

UCB: Full Year 2008 Financial Results

BRUSSELS, BELGIUM--(Marketwire - March 3, 2009) -


UCB continues on track

Full Year 2008 Financial Results


  * Despite the loss of Zyrtec® business in the U.S. after a full
    year of generic competition, a stable revenue of EUR 3.6 billion
    (-1% actual, +4% at constant exchange rates) was achieved
  * Strong underlying profitability (recurring EBITDA) of EUR 733
    million (-1% actual, +6% at constant exchange rates)
  * Reported net profit of EUR 42 million (-74% actual, -67% at
    constant exchange rates) after substantial pre-tax one-off,
    non-recurring, restructuring (EUR 272 million) and impairment
    (EUR 160 million) charges
  * 7 regulatory approvals, including three new molecular entities in
    the U.S.
  * 6 regulatory filings across major markets: U.S., Europe and Japan
  * SHAPE: major achievements to accelerate the transformation of the
    organisation and to increase its focus on UCB's core disease
    areas, products and geographies
  * Outlook 2009: revenue expected to reach approximately EUR 3.3
    billion following the patent expiry of Keppra® in the U.S.;
    underlying profitability target (recurring EBITDA) increased to
    greater than EUR 680 million; net profit expected to exceed EUR
    130 million, excluding capital gains from the already announced
    divestment of non-core assets
  * Stable gross dividend of EUR 0.92 per share recommended by Board
    of Directors

Brussels (Belgium), March 3, 2009 - 7:00 AM (CET) - press release, regulated information - UCB announced today its consolidated full year 2008 financial results. It was a year of solid operational achievement which accelerated the transformation of the company towards becoming a focused biopharmaceutical company.

"UCB has completed a year of significant execution. We delivered stable revenue and strong underlying profitability, successfully absorbing the anticipated loss from the major patent expiry of Zyrtec® in the U.S. in December 2007 and from the loss of exclusivity for Keppra® in the U.S. in November 2008. This included the approval of three new molecular entities in the U.S. providing the fuel for future growth", said Roch Doliveux, Chief Executive Officer, UCB. "With the launch of the SHAPE programme, UCB continued its transformation into a focused, specialist biopharma company concentrated on severe diseases of the central nervous system and immunology, thereby improving its competitiveness and profitability, and sharpening its ability to bring benefits to patients with severe disease."


The full press release can be downloaded from the following link: http://hugin.info/133973/R/1294433/293591.pdf

For further information
Antje Witte
Corporate Communications & Investor Relations, UCB
T +32.2.559.9414
antje.witte@ucb.com

Richard Simpson
Investor Relations, UCB
T+32.2.559.9494
richard.simpson@ucb.com

Nancy Nackaerts
External Communications, UCB
T +32 2 559 9264
nancy.nackaerts@ucb.com

Michael Tuck-Sherman
Investor Relations, UCB
T +32.2.559.9712
michael.tuck-sherman@ucb.com


This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



Copyright © Hugin AS 2009. All rights reserved.

Contact Information