2016 was an outstanding year for Actelion with the company delivering record sales and earnings alongside a continued focus on maximizing shareholder value. During 2016, product sales rose 15% at CER to reach 2,412 million Swiss francs. This excellent performance was mostly driven by the strong Uptravi® launch in the United States and continued strong Opsumit® uptake in markets around the globe.
Actelion continues to measure and report core operating results which more accurately reflect 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.
The strong commercial performance coupled with tight financial oversight resulted in core operating income growth of 17% at CER to 992 million Swiss francs and core earnings per share growth of 27% at CER to 8.18 Swiss francs.
US GAAP operating income increased by 14% whilst US GAAP diluted EPS increased by 25%, both at CER.
(1) CER percentage changes are calculated by reconsolidating both the 2016 and 2015 results at constant currencies (the average monthly exchange rates for 2015)
|in CHF millions
(except for per share data)
|Full Year Results 2016||Full Year Results 2015||% Variance in CHF||% Variance at CER|
|Core operating expenses||1,420||1,228||16||14|
|Core operating income||992||814||22||17|
|Diluted Core EPS||8.18||6.16||33||27|
|Diluted US GAAP EPS||6.46||4.91||32||25|
|No of shares in calculation||107.8||112.5||-||-|