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Six - month interim report ( Q2 ) 2021 ( unaudited ) ALK reports revenue up 13 % with sales growth across its portfolio , outlook updated ALK's revenue growth increased during Q2 on continued strong momentum for tablet sales and a recovery in sales of legacy products . ALK saw overall revenue growth of 13 % for the quarter and tablet sales growth of 23 % with better than expected earnings , despite a significant , planned increase in R & D spend . Based on year - to - date results , and improved forecasts for H2 , ALK has upgraded its 2021 financial outlook . ALK Company release No. 16/2021 Q2 2021 financial highlights ▶ Total revenue was up 13 % in local currencies at DKK 868 million ( 772 ) . This compares against a Q2 last year that showed flat overall growth due to the negative impact of COVID , especially on legacy products . Currency effects reduced reported growth by 1 percentage point . Tablet sales grew by 23 % to DKK 401 million ( last year : 324 with 25 % growth ) . Growth was held back slightly by the phasing of product shipments to Japan . Combined sales of SCIT and SLIT - drops increased 4 % , with other products up 13 % . Revenue growth in Europe increased to 14 % , with North America up 33 % and International revenue down 15 % on the phasing of product shipments to Japan and China . ▸ Operating profit ( EBITDA ) was better than expected at DKK 48 million ( 75 ) , reflecting an improved gross margin but also a planned DKK 69 million increase in R & D spend . Revenue for the first six months was up 11 % with tablet sales growth of 28 % , while EBITDA was almost unchanged at DKK 274 million ( 273 ) . Free cash flow was positive at DKK 128 million ( 27 ) and the improvement was driven by the phasing of investments and changes to working capital . Key events and strategic progress ALK continues to make good progress on its strategic priorities : ▶ The adolescent safety clinical trial for ODACTRA® was completed as planned in support of a future US application to expand its use to include adolescents . ▶ A further 22 approvals were secured for ALK's tablet portfolio . ▶ ALK finalised a development and licensing agreement with Catalent on the use of a proprietary tablet formulation technology in ALK's food AIT programme . ▶ ALK has refinanced its loan facilities so that it now has DKK 1.5 billion in credit facilities , of which , DKK 1.2 billion is currently unused . After the quarter ended , ALK and China - based pharmaceutical company Grandpharma announced an agreement that will see ALK's adrenaline autoinjector , Jext® , registered and launched in China . 2021 financial outlook As announced on 9 August 2021 , based on its H1 performance and latest forecasts for H2 2021 , ALK has upgraded its full - year financial outlook especially with regards to increasing earnings to reflect an improved sales forecast , as well as cost savings and a minor adjustment to the anticipated timing of clinical development activities . As a result : ▶ Revenue is now expected to grow 10-12 % in local currencies ( previously : 9-12 ) , to reflect an improved sales forecast . ▶ EBITDA is now increased to DKK 450-500 million ( previously : 375-425 ) , benefiting from the improved sales outlook , cost savings and timing of clinical development activities . ALK still expects an increased gross margin , a significant increase in R & D expenses although slightly lower than previously assumed and a gradual normalisation of sales and marketing activities compared to last year , which was affected by COVID . Free cash flow is now expected at ~ DKK minus 100 million ( previously : minus 200 ) mainly reflecting the revised earnings outlook . Hørsholm , 11 August 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 Ilkjær , mobile +45 3050 2014 Today , ALK is hosting a conference call for analysts and investors at 1.30 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 1.25 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 : 91659552 # . 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 16/2021 - 11 August 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 : 529900SG CREUZCZ7P 020