Ferring Pharmaceuticals A/S

Ledelsesberetning

Key activities Ferring Pharmaceuticals A/S main activity is to act as an international pharma science centre of the Ferring Group, responsible for activities within research & product development. Around 80% of the employees are within these activities. The remaining 20% are within Global functions such as, Technical operations, IT and Legal, as well as local support functions.All costs are invoiced to the Ferring Group companies, which own the underlying activity or research and development project and receive the service, with an agreed mark-up percentage. Development in the year The income statement of the Company for 2024 shows a profit of DKK 76.9 million, and at 31 December 2024 the balance sheet of the Company shows a positive equity of DKK 266.2 million. Revenue increased from DKK 1,458 million in 2023 to DKK 1.690 million in 2024, mainly driven by higher research & development activities. The profit before tax increased from DKK 86.2 million in 2023 to DKK 99.0 million in 2024, in line with higher revenue. The past year and follow-up on development expectations from last year The actual net profit after tax for the year was higher than the expectations disclosed in the prior year annual report which is primarily a result of higher research & development activities in the current year. Investments Investments amounted to DKK 9,9 million in 2024 against DKK 17,9 million in 2023. The investments levels for the two years are to be seen in the context of our recent move to the newly build domicile, Soundport, in March 2022. Capital resources Ferring Pharmaceuticals A/S has equity of DKK 266.2 million (2023: DKK 189.3 million). The increase is explained by the results for the year. No dividend for 2024. Targets and expectations for the year ahead Management expects activities in 2025 to be at the level of 2024. This implies an expectation of revenue in the range of DKK 1.650 – 1.725 million, compared to DKK 1.690 million for 2024. The profit before financial income and expenses is expected to be in the range of DKK 100 – 105 million, compared to DKK 103,2 million in 2024.