Full Year 2024 Roche Holding AG Earnings Call Transcript
Key Points
- Roche Holding AG (RHHBF) reported a strong overall group sales growth of 7% for 2024, with the base business excluding COVID-19 growing impressively at 9%.
- Core operating profit increased by 14%, and the group core operating margin improved by 2.1 percentage points.
- The company achieved significant milestones, including EU approval for a prefilled syringe and positive readouts in key trials.
- Roche Holding AG (RHHBF) increased its dividend for the 38th consecutive year, demonstrating strong shareholder returns.
- The company has a robust pipeline with 17 blockbuster medicines and plans for multiple Phase III readouts in 2025, indicating strong future growth potential.
- The final impact of COVID-19 sales reduction was CHF1.1 billion, aligning with previous guidance but still a notable decrease.
- The loss of exclusivity (LOE) impact was CHF1 billion, slightly better than guidance but still a significant headwind.
- IFRS net income decreased by 19% in constant rates, impacted by major impairments and higher interest charges.
- Currency fluctuations negatively impacted sales, core operating profit, and core EPS, with a 4% to 6% reduction in each.
- The diagnostics division faced challenges with a decline in near patient care sales by 17%, primarily due to lower COVID-19 rapid antigen testing.
(Operator Instructions) One last remark, if you'd like to follow the presented slides on end as well, please feel free to go to roche.com/investors to download the presentation. At this time, it's my pleasure to introduce you to Thomas Schinecker, CEO Roche Group. Mr. Schinecker, the stage is yours.
Thank you very much, and hello to everyone wherever in the world you are. I'm really excited to share with you the results of 2024 for the Roche Group because I believe they have been -- this year has really been an excellent year for us.
So let's look at the performance. So overall, group sales was at 7%. The base business, meaning excluding COVID-19, green with impressive 9%. Varma, 9%; and Diagnostics, 8%. We saw the last and final impact of COVID-19 sales in -- reduction in 2024.
So there is no more impact going forward. The final impact was CHF1.1 billion, so exactly in line with the guidance that we gave at the beginning of the year.
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