Roche faces strong currency winds in first quarter
Swiss pharma firm Roche suffered from exchange rate effects in the first quarter. Sales in the reporting currency, the Swiss franc, were thus below the previous year's figure after the first three months.
Select your language
Generated with artificial intelligence.
Listening:
Roche faces strong currency winds in first quarter
+Get the most important news from Switzerland in your inbox
Roche generated sales of CHF14.7 billion ($18.7 billion) between January and March. While this represents a decrease of 5% in the reporting currency of Swiss francs, at constant exchange rates there was an increase of 6%. The Group thus met its own target, which is based on constant exchange rates.
At CHF11.5 billion (-4%), the Pharmaceuticals Division, as usual, contributed the lion’s share of Group sales. Roche’s diagnostics business generated sales of CHF3.3 billion (-7%).
Roche traditionally does not publish profit figures for odd-numbered quarters.
Roche’s reported figures are still in line with analysts’ estimates.
+ Can Swiss pharma giant Roche reshape the obesity market?
The management team headed by CEO Thomas Schinecker confirmed its previous guidance for the rest of the year.
At constant exchange rates, sales are expected to increase by a mid-single-digit percentage. Core earnings per share are expected to increase in the high single-digit percentage range. In addition, the Group will continue to endeavour to increase the dividend in Swiss francs.
Translated from German by AI/jdp
We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.
Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.
If you have any questions about how we work, write to us at english@swissinfo.ch
External Content
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.