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hikma . Press Release Hikma delivers strong performance in 2020 London , 25 February 2021 - Hikma Pharmaceuticals PLC ( ' Hikma ' or ' Group ' ) , the multinational pharmaceutical company , today reports its preliminary audited results for the year ended 31 December 2020 . Highlights : Core results ( underlying ) $ million Constant currency² 2020 2019 Change change Core revenue 2,341 2,203 6 % 6 % Core operating profit 566 508 11 % 17 % Core profit attributable to shareholders 408 364 12 % 20 % Core basic earnings per share ( cents ) ³ 172.9 150.4 15 % 23 % Reported results ( statutory ) $ million Revenue Operating profit Profit attributable to shareholders Cashflow from operating activities Basic earnings per share ( cents ) ³ Total dividend per share ( cents ) ³ Strong financial performance Constant currency² 2020 2019 Change change 2,341 2,207 6 % 6 % 579 493 17 % 23 % 431 486 ( 11 ) % ( 5 ) % 464 472 ( 2 ) % 182.6 200.8 ( 9 ) % ( 3 ) % 50.0 44.0 14 % • Core Group revenue up 6 % , reflecting growth in all three businesses Core operating profit up 11 % , driven by strong growth in profit of Generics and Injectables • Strong cashflow from operating activities of $ 464 million , whilst maintaining higher inventory levels to ensure continuity of supply during the COVID - 19 pandemic • Continued investment in R & D of 6 % of revenue , with growing pipeline of complex products • Healthy balance sheet , with net debt of $ 605 million and low leverage at 0.9x net debt to core EBITDA5 1 Core results throughout the document are presented to show the underlying performance of the Group , excluding the exceptional items and other adjustments set out in Note 5 of the Group consolidated financial statements . Core results are a non - IFRS measure and a reconciliation to reported IFRS measures is provided on page 12 2 Constant currency numbers in 2020 represent reported 2020 numbers translated using 2019 exchange rates , excluding price increases in the business resulting from the devaluation of currencies and excluding the impact from hyperinflation accounting . In 2020 Lebanon and Sudan were considered hyperinflationary economies , therefore the spot exchange rate as at 31 December 2020 was used to translate the results of these operations into US dollars In June 2020 , Hikma purchased 12.8 million ordinary shares from Boehringer Ingelheim , which are being held in treasury . Earnings per share is calculated using the weighted average number of shares outstanding during the period . Dividend per share is calculated using the number of shares in issue at 31 December 2020 . 4 Group net debt is calculated as Group total debt less Group total cash , including restricted cash . Group net debt is a non - IFRS measure . See page 13 for a reconciliation of Group net debt to reported IFRS figures 5 Core EBITDA is earnings before interest , tax , depreciation , amortisation and impairment charges / reversals . EBITDA is a non - IFRS measure , see page 13 for a reconciliation to reported IFRS results 1