Actelion delivered a strong performance during the first nine months of 2016. Product sales rose to 1,785 million Swiss francs, an increase of 14% at constant exchange rates (CER).
Actelion continues to measure, report and issue guidance on its core operating results, which more accurately reflects the underlying business performance. Core results exclude contract revenues, as well as costs related to employees stock compensation programs, depreciation, amortization, impairments and other items that management deems exceptional. Core operating income rose to 781 million Swiss francs, an increase of 14% at CER.
Core net income rose by 17% at CER to 691 million Swiss francs, and core diluted earnings per share (EPS) rose by 23% at CER to 6.38 Swiss francs.
US GAAP net income amounted to 581 million Swiss francs, and US GAAP diluted earnings per share amounted to 5.37 Swiss francs.
(1) CER percentage changes are calculated by reconsolidating both the 9M 2016 and 9M 2015 results at constant currencies (the average monthly exchange rates for 9M 2015)
|in CHF millions
(except for per share data)
|Results 9M 2016||Results 9M 2015||% Variance in CHF||% Variance at CER|
|Core operating expenses||1,004||871||15||13|
|Core operating income||781||651||20||14|
|Diluted Core EPS||6.38||4.94||29||23|
|Diluted US GAAP EPS||5.37||3.99||35||27|
|No of shares in calculation||108.3||113.4||-||-|
|2016 Core operating income||
Mid-teen percentage core operating income growth, at constant exchange rates and barring unforeseen events