Novo Nordisk Q1 Net Profit Rises

(RTTNews) - Novo Nordisk (NVO) reported that its first quarter net profit increased by 28% to 25.41 billion Danish kroner. Earnings per share increased by 29% to 5.68 kroner. Operating profit increased by 27% in Danish kroner and by 30% at constant exchange rates or CER to 31.8 billion kroner.

First quarter sales increased by 22% measured in Danish kroner and by 24% at CER to 65.35 billion Danish kroner in the first three months of 2024.

For 2024, the company now expects operating profit growth to be 22% to 30% at CER. Given the current exchange rates versus the Danish krone, growth reported in DKK is expected to be in line with CER. Previous guidance was operating profit growth of 21% to 29% at CER.

For 2024, the company now expects sales growth to be 19% to 27% at CER. Given the current exchange rates versus the Danish krone, sales growth reported in DKK is now expected to be in line with CER. Prior guidance was sales growth of 18% to 26% at CER.

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