Special dividend : Glaxo(Gsk)

GSK

SK delivers further progress against strategy with 2015 sales of £24 billion (+6%), core EPS 75.7p (-15%) and total EPS 174.3p, +>100% CER

2016 core EPS percentage growth expected to reach double digits (CER)

  • Group sales +6% CER on a reported basis and +1% CER pro-forma

– Pharmaceuticals £14.2 billion, -7% (-1% pro-forma); Vaccines £3.7 billion, +19% (+3% pro-forma); Consumer Healthcare £6 billion, +44% (+6% pro-forma)

  • £2 billion of new product sales driven by HIV (Tivicay, Triumeq), Respiratory (Relvar/Breo, Anoro, Incruse) and Meningitis vaccines (Menveo, Bexsero)

– Growing sales contribution: Q4 sales £682 million, (Q3: £591 million)
– Nucala, a new biologic treatment for severe asthma, launched at the end of 2015
– New product sales now expected to reach £6 billion target up to two years earlier (2018 vs 2020)

  • Integration and restructuring programme on schedule

– £1 billion incremental annual cost savings delivered in 2015 for costs of £1.9 billion
– On track to deliver £3 billion of annual cost savings by end 2017

  • 2015 core EPS 75.7p, -15% CER, ahead of financial guidance

– Reflects short-term dilution from transaction partly offset by integration and restructuring benefits

  • 2015 total EPS 174.3p, +>100% CER

– Reflects impact of transaction gains, partly offset by restructuring charges and revaluation of the contingent consideration relating to improved outlook for HIV business

  • 2016 core EPS percentage growth expected to reach double digits CER

– If FX rates held at January average levels estimated impact of +5% on 2016 Sterling core EPS growth

  • 2015 ordinary dividend of 80p and special dividend of 20p confirmed

– Special dividend to be paid alongside Q4 ordinary dividend in April 2016
– Continue to expect 80p full year dividend for 2016 and 2017

  • New R&D portfolio of ~40 assets to drive long-term performance; multiple development milestones expected in 2016/2017

– Up to 10 regulatory filings include Shingrix (shingles vaccine), sirukumab (RA), Benlysta SC (lupus) and ICS/LABA/LAMA (COPD)
– Up to 10 Phase lll starts include cabotegravir (HIV), daprodustat (anaemia) and Men ABCWY vaccine
– Up to 20 Phase ll starts in Immuno-inflammation, Oncology, Respiratory and Infectious diseases
– Estimated R&D rate of return maintained at 13%


 

Azioni in portafoglio :69

Dividendi incassati :88.62

Nuovo dividendo annuo stimato :54+13(special dividend)

Payback :6,87%


 

GSK

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