葛兰素史克Glaxosmithkline（GSK）2025年第二季度财报「LSE」（英文版）（64页）.pdf

1、GSK delivers continued strong performanceStrong Specialty Medicines performance drives sales and core operating profit growthTotal Q2 2025 sales 8.0 billion+1%AER;+6%CERSpecialty Medicines sales 3.3 billion(+15%);Respiratory,Immunology&Inflammation 1.0 billion(+10%);Oncology 0.5 billion(+42%);HIV sa

2、les 1.9 billion(+12%)Vaccines sales 2.1 billion(+9%);Shingrix 0.9 billion(+6%);Meningitis vaccines 0.4 billion(+22%);and Arexvy 0.1 billion(+13%)General Medicines sales 2.6 billion(-6%);Trelegy 0.8 billion(+4%)Total operating profit+33%and Total EPS+35%driven by lower CCL charges partly offset by in

3、tangible asset impairmentsCore operating profit+12%and Core EPS+15%reflecting Specialty Medicines and Vaccines growth,higher royalty income and disciplined increased investment in R&D portfolio progression in Oncology and VaccinesCash generated from operations of 2.4 billion with free cash flow of 1

4、.1 billion(Financial Performance Q2 2025 results unless otherwise stated,growth%and commentary at CER as defined on page 57.In Q2 2025,the adverse currency impact of AER versus CER primarily reflected the strengthening of Sterling against the USD.See page 10 for further details.)Q2 2025Year to datem

5、%AER%CERm%AER%CERTurnover 7,986 1 6 15,502 2 5 Total operating profit 2,023 23 33 4,239 35 41 Total operating margin%25.3%4.5ppts 5.4ppts 27.3%6.8ppts 7.2ppts Total EPS 35.5p 23 35 75.3p 38 45 Core operating profit 2,631 5 12 5,164 4 8 Core operating margin%32.9%1.1ppts 1.8ppts 33.3%0.8ppts 1.1ppts

6、Core EPS 46.5p 7 15 91.4p 6 10 Cash generated from operations 2,433 47 3,734 35 Pipeline progress and investment delivering future growth opportunities:5 major new product approvals expected in 2025:3 US Approvals now received for Penmenvy meningitis vaccine,Blujepa first-in-class antibiotic treatme