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At a group level, Roche’s sales last year fell 7 percent to 58.7 billion francs, the group announced on Thursday. There was a 1 percent increase in fixed exchange rates. Therefore, growth was better than management expected, which expected a decline in sales in the low single-digit percentage range.
Sales of the pharmaceutical division were 2 percent less, at 44.6 billion. Revenues in the diagnostics business fell 20 percent to 14.1 billion francs. The division has experienced a decline in Covid test sales since the end of the coronavirus pandemic.
Roche put its consolidated profit at 12.4 billion francs, down more than 7 percent from 13.5 billion francs in the previous year. The underlying operating result, which analysts use as a reference, fell 13 percent.
Reported sales figures are roughly in line with analyst estimates. However, at the core profit level, these are slightly lower.
Lower wages for bosses
The slight decrease in upper wages is also noteworthy. Thomas Schinecker (48), CEO of Roche since March 2023, earned 9.6 million francs last year. His predecessor, Severin Schwan (56), received a total compensation of 11.5 million francs for 2022.
Schwan, currently chairman of the board, earned approximately 4.5 million francs in 2023. His predecessor, Christoph Franz (63), received a total of 5.9 million francs for 2022.
All members of Roche management received a total of 34.4 million francs in the reporting year. Last year this figure was 37.2 million francs.
careful guesses
Roche isn’t staying too far out of the window when it comes to the outlook for fiscal 2024, which has already begun. Management around CEO Thomas Schinecker assumes sales will increase in the mid-single-digit percentage range at constant exchange rates. Core earnings per share are also expected to grow in the mid-single-digit percentage range. The group also continues to strive to increase the dividend in Swiss francs. (SDA/rae)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
