Roche Holding AG (LTS:0QOK)

CHF 248.4 1.25 (0.51%) Market Cap: 201.45 Bil Enterprise Value: 231.01 Bil PE Ratio: 18.78 PB Ratio: 6.84 GF Score: 84/100

Half Year 2024 Roche Holding AG Earnings Call Transcript

Jul 25, 2024 / 12:00PM GMT

Release Date Price: CHF280.3 (+3.05%)

Transcript

Thomas Schinecker

Roche Holding AG - Chief Executive Officer - Roche Group

Thank you very much, and hello to everyone. Good morning, good afternoon, wherever you are. I'm really looking forward to sharing our half-year results with you today.

Now, let me take you through this slide first. We've had a very strong growth in the first half year. Group sales increased by 8%, excluding COVID by 8 -- by 5%, excluding COVID by 8%. And specifically in the second quarter, as you will see in a second, we had significant growth of 9%, overall. Pharma is growing very well in the base business with 8%, Diagnostics growing 9%.

Both the COVID-19 sales decrease and also the LOE impact, both in line with guidance. The sales decrease in COVID-19 is CHF0.8 billion and also the LOE impact is CHF0.6 billion. There was not much COVID impact in the second quarter. Core operating profit increased by 11%, so significant growth here due to good cost management and shifting resources within the organization. With that, our group core operating margin increased almost 2 percentage points. Our core EPS grew 9% and

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