Roche 2020 Net Profit Up Slightly; Proposes Dividend Increase
By Cecilia Butini
Roche Holding AG said Thursday that its 2020 net profit rose
slightly, and the company proposed increasing its dividend.
The Swiss pharmaceutical major posted net income of 14.30
billion Swiss francs ($15.91 billion), up slightly from CHF14.11
billion in 2019.
The increase in profit was attributed to the lower goodwill
write-offs compared with the previous year, the company said.
Core operating profit came in at CHF21.54 billion, compared with
Sales were CHF58.32 billion in 2020, which compared with
CHF61.47 billion, the company said.
Core earnings per share were CHF19.16, compared with CHF20.16
the year prior.
Sales in the pharmaceutical division were hit by
stronger-than-expected competition from biosimilars, which
generated a reduction in sales of CHF5.1 billion in the U.S.,
Europe and Japan, the company said. The coronavirus pandemic also
affected the pharma business, mainly due to missed medical
The company said the board proposed to increase the dividend to
CHF9.10, subject to shareholders approval.
For 2021, Roche expects sales to grow in the
low-to-mid-single-digit range at constant exchange rates, despite
the impact of biosimilars. Core earnings per share are expected to
grow broadly in line with sales at constant exchange rates, Roche
Write to Cecilia Butini at email@example.com
(END) Dow Jones Newswires
February 04, 2021 01:50 ET (06:50 GMT)
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