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Swedish Orphan Biovitrum (SOBI) investor relations material
Swedish Orphan Biovitrum Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 16% Q4 revenue growth at constant currency, with 37% growth in the strategic portfolio and strong performance across all regions, driven by innovative medicines and new product launches.
Full-year 2025 revenue grew 15% at constant currency, with all regions contributing and a 40% adjusted EBITDA/EBITA margin, reflecting operational excellence and cost alignment.
Strategic acquisitions, notably Arthrosi Therapeutics, and product launches such as Aspaveli and Olezarsen, have strengthened the pipeline and positioned the business for future leadership in key therapeutic areas.
Six high-value medicines are expected to launch by 2028, radically transforming the company’s trajectory.
Significant pipeline progress with pivotal Tryngolza data, Gamifant proof-of-concept, and regulatory submissions for Aspaveli and NASP.
Financial highlights
Q4 revenues reached SEK 7,821M, up 16% at constant currencies; full-year revenue was SEK 28,238M, up 15% at CER.
Adjusted gross margin improved to 81% in Q4 (from 78% prior year); full-year adjusted gross margin was 79%.
Q4 adjusted EBITDA/EBITA margin was 41%, up from 34% last year; full-year margin reached 40% (up 4 points year-over-year).
Q4 profit for the period was SEK 1,862M, up 34% year-over-year; adjusted EPS before dilution was SEK 5.70, up 42%.
Operating cash flow for Q4 was SEK 2,981M, up 66% year-over-year; net debt at year-end was SEK 10,081M.
Outlook and guidance
2026 revenue expected to grow at a low double-digit percentage at CER, with adjusted EBITDA/EBITA margin anticipated in the mid-30s percentage of revenue.
Significant investments planned in 2026 for launches and development, including Aspaveli, Olezarsen, Arthrosi, and Gamifant, which will moderate EBITDA/EBITA margin.
No dividend proposed for 2025.
Key drivers include continued Altuvoct launch, investments in Aspaveli and NASP, Tryngolza filing, and incorporation of Arthrosi.
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