PARIS (dpa-AFX) - Sanofi (SNYNF) reported that its first-quarter net income attributable to equity holders rose to 1.68 billion euros or 1.35 euros per share from 1.14 billion euros or 0.91 euros per share last year.
Business earnings per share increased 15.6% to 1.63 euros on both a reported basis and at CER, with roughly half of the growth due to the COVID-19 impact.
Company sales for the first-quarter were 8.97 billion euros, up 6.9% on a reported basis. Exchange rate movements had a positive effect of 0.3 percentage points, mainly driven by the strength of the U.S. dollar and the Japanese yen, partially offset by the decrease in the Brazilian real and the Argentine peso. At CER, Company sales increased 6.6%.
Sanofi continues to expect 2020 business earnings per share to grow around 5% at CER, barring unforeseen major adverse events. Sanofi expects the favorable first-quarter COVID-19 impact on sales and business earnings per share to be mainly offset during the second quarter. Applying average April 2020 exchange rates, the currency impact on 2020 business earnings per share is estimated to be between -1% to -2%.
Copyright RTT News/dpa-AFX
© 2020 AFX News
