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Three - month interim report ( Q1 ) 2021 ( Unaudited ) ALK reports 9 % sales growth in Q1 fuelled by better than expected tablet growth of 32 % The first three months of 2021 represented ALK's best - ever quarter , with revenue exceeding DKK 1 billion for the first time , despite the continuing effects of COVID . ALK saw revenue growth of 9 % and tablet sales growth of 32 % , driven by strong performances across the tablet portfolio in Europe and Japan . This comes on top of a strong first quarter last year that was largely unaffected by COVID . Operating profit ( EBITDA ) increased 14 % despite increased activity levels across the organisation . ALK updates its financial outlook for 2021 on stronger tablet sales . ALK Company release No. 11/2021 Q1 2021 highlights ▸ Total revenue was up 9 % in local currencies at DKK 1,021 million ( 956 ) . ▸ Tablet sales grew by 32 % to DKK 466 million ( 356 ) and continued to be the primary driver of growth . Combined SCIT and SLIT - drops sales were down 10 % on the dual effects of COVID and planned product discontinuations . ▸ ALK saw revenue growth from all of its regions with sales in Europe up 5 % , sales in North America up 16 % and revenue from International markets up 29 % . Planned product discontinuations impacted growth in Europe by approximately 4 percentage points . ▸ Operating profit ( EBITDA ) increased 14 % to DKK 226 million ( 198 ) , benefiting from operational leverage despite a planned , significant increase in R & D costs . ▸ Free cash flow improved to DKK 86 million ( 21 ) largely driven by the improved earnings . Key events and strategic progress ▸ ALK continues to execute on its four strategic priorities in order to deliver sustained , high growth and improve profitability . The tablet portfolio now accounts for more than 50 % of ALK's allergy immunotherapy sales , with the most significant contribution coming from Europe , and Germany in particular , as the transition to registered , evidence - based medicines accelerated . ▸ COVID continues to distort the allergy market to some extent , primarily in Europe , with some countries experiencing a further wave of infections and taking measures to contain the virus which continues to affect patients ' ability and willingness to visit allergy clinics . ALK is continuously monitoring the impact of COVID on its overall clinical development programme . Importantly , patient recruitment for the key European and North American clinical trial of the house dust mite tablet for allergic rhinitis in children is now proceeding according to plan . Manufacturing and supply remained resilient , and product inventories are still robust . Improved 2021 financial outlook ALK is updating its financial outlook for 2021 based on solid Q1 earnings , and a stronger full - year outlook for tablet sales , which is still partly offset by continuing uncertainty around COVID and its ongoing impact on sales of ALK's legacy products . ALK assumes that patients ' ability and willingness to visit health care professionals will remain somewhat constrained in selected countries over the coming months . As a result : ▸ Revenue is now expected to grow 9-12 % in local currencies ( previously : 8-12 ) , driven by tablet sales growth of ~ 25 % ( previously : > 20 % ) . ▸ EBITDA is now expected at DKK 375-425 million ( previously : 325-425 ) , benefiting from the improved tablet sales outlook . ALK still expects an increased gross margin , a significant increase in R & D expenses and a gradual normalisation of sales and marketing activities . ▸ Free cash flow is now expected at ~ DKK minus 200 million ( previously : minus 200-300 ) reflecting the revised earnings outlook . Hørsholm , 5 May 2021 ALK - Abelló A / S Comparative figures for 2020 are shown in brackets . Revenue growth rates are stated in local currencies , unless otherwise indicated For further information , contact : Investor Relations : Per Plotnikof , tel . +45 4574 7527 , mobile +45 2261 2525 Media : Jeppe Illkjær , mobile +45 3050 2014 Today , ALK is hosting a conference call for analysts and investors at 2.00 p.m. ( CEST ) at which Management will review the financial results and the outlook . The conference call will be audio cast on https://ir.alk.net . Please call in before 1.55 p.m. ( CEST ) . Danish participants should call in on tel . +45 3544 5577 and international participants should call in on tel . +44 333 300 0804 or +1 631 913 1422. Please use the Participant Pin Code : 84819816 # . The conference call will also be webcast live on our website , where the related presentation will be made available shortly before the call begins . Page 1 of 15 Company release No 11/2021 - 5 May 2021 ALK - Abelló A / S - Bøge Allé 6-8 - DK - 2970 Hørsholm - Denmark - www.alk.net Tel +45 4574 7576 - CVR No 63 71 79 16 LEI code : 529900SGCREUZCZ7P020