Annual Report 2025

Annual Report 2025

Consolidated Statements of Profit or Loss

Consolidated Statements of Profit or Loss

 

 

 

 

Year Ended December 31,

(in thousands of $ except for shares and EPS)

 

Note

 

2025

 

2024

 

2023

Product net sales

 

16

 

4,151,316

 

2,185,883

 

1,190,783

Other operating income1)

 

15

 

96,734

 

66,156

 

77,811

Total operating income

 

 

 

4,248,050

 

2,252,039

 

1,268,594

 

 

 

 

 

 

 

 

 

Cost of sales

 

7

 

(450,665)

 

(227,289)

 

(117,835)

Research and development expenses

 

17

 

(1,364,132)

 

(983,423)

 

(859,492)

Selling, general and administrative expenses

 

18

 

(1,367,057)

 

(1,055,337)

 

(711,905)

Loss from investment in a joint venture

 

25

 

(12,390)

 

(7,644)

 

(4,411)

Total operating expenses

 

 

 

(3,194,244)

 

(2,273,693)

 

(1,693,643)

 

 

 

 

 

 

 

 

 

Operating profit/(loss)

 

 

 

1,053,806

 

(21,654)

 

(425,049)

 

 

 

 

 

 

 

 

 

Financial income

 

 

 

163,091

 

157,509

 

107,386

Financial expense

 

 

 

(4,082)

 

(2,464)

 

(906)

Exchange gains/(losses)

 

21

 

65,792

 

(48,211)

 

14,073

 

 

 

 

 

 

 

 

 

Profit/(Loss) for the year before taxes

 

 

 

1,278,607

 

85,180

 

(304,496)

Income tax benefit

 

22

 

13,428

 

747,860

 

9,443

Profit/(Loss) for the year

 

 

 

1,292,035

 

833,040

 

(295,053)

Profit/(Loss) for the year attributable to:

 

 

 

 

 

 

 

 

Owners of the parent

 

 

 

1,292,035

 

833,040

 

(295,053)

Weighted average number of shares used for basic profit/(loss) per share

 

23

 

61,295,149

 

59,855,585

 

57,169,253

Basic profit/(loss) per share (in $)

 

23

 

21.08

 

13.92

 

(5.16)

Weighted average number of shares used for diluted profit/(loss) per share

 

23

 

66,029,215

 

65,177,815

 

57,169,253

Diluted profit/(loss) per share (in $)

 

23

 

19.57

 

12.78

 

(5.16)

The accompanying notes form an integral part of these consolidated financial statements.

1)

Comparative figures have been aligned with the presentation adopted in the current period, reflecting the combination of collaboration revenue and other operating income.