Novartis: earnings growth at constant FX in 2022
(CercleFinance.com) - Novartis reports core EPS of $6.
12 for FY 2022, up 6% at constant exchange rates (CER) (+14% excluding the impact of Roche's core earnings), and core operating income of nearly 16.7 billion dollars, up 8% at CER.
At over 50.5 billion dollars, the Swiss healthcare group's sales rose 4% CER (-2% on a reported basis), with similar increases for the innovative medicines division and the Sandoz generics and biosimilars subsidiary.
The previously announced share buyback of up to 15 billion dollars continues, with 4.9 billion dollars still to be executed, and a dividend of 3.20 Swiss francs per share, up 3.2%, will be proposed for FY 2022.
For 2023, Novartis is targeting low- to mid-single-digit sales growth and mid-single-digit core operating income growth (and mid- to high-single-digit growth for the innovative medecines division).
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