CSL (ASX: CSL) has reported its full-year results for FY20. We take a look at the company's headline figures, key commentary and guidance outlook, plus review the share market's reaction across the trading day.

Headline result

Global biotechnology firm CSL has reported a 9% increase in revenue based on constant currency terms.Meanwhile, its reported net profit after tax leapt 17% to US$2.1 billion, with earnings per share rising by the same percentage to US$4.63 per share.The company has declared a final dividend of US$1.07 per share, bringing full-year dividends to US$2.02, 9% higher than throughout FY19. Shares in CSL will trade ex-dividend on Thursday, September 10.Shares in CSL surged 6.4% today to close on $312.05, with shareholders taking confidence in the company's resilient performance through COVID-19.

Key commentary

CSL has today confirmed that it has seen "no material revenue impact" resulting from COVID-19 thus far, which has allowed the business to continue to operate with buoyant growth across its immunoglobulin portfolio. In this portfolio, PRIVIGEN sales grew 20% and HIZENTRA sales jumped 34%, supported by high patient demand for chronic conditions, treatment of Secondary Immune Deficiency, expanded CIDP label claim for both products, and the demand for home-based treatments amid COVID-19.With the exception of the Chinese market, where CSL is moving to a direct distributor model, Albumin sales also grew. However, across the broader portfolio, with the weight of the drag in sales across China factored into the equation, sales slumped 36%. Some level of normalisation in sales is expected to pick up now that the transition has been completed.Elsewhere, there was also a sharp rise in sales of other therapies including HAEGARDA and IDELVION, which grew by 12% and 25% respectively.In terms of CSL's flu-oriented operations, Seqirus, seasonal influenza vaccine sales have increased by 21%. Earnings before interest and taxes soared over 70% across this division thanks to the launch of two new products in FY20, FLUCELVAX and FLUAD.Although CSL opted to suspend clinical trials in the latter part of FY20 due to COVID-19 precautions, these trials have since recommenced. The pipeline of clinical trials includes some of the above-mentioned therapies, as well as others in varying stages of development, plus "R&D programs and partnerships aimed at fighting COVID-19".

Guidance outlook

CSL anticipate net profit after tax in the range of US$2.1 billion to US$2.265 billion (constant currency) in FY21, which would correspond with year-on-year growth of 8%. This includes R&D expenditure associated with efforts to find a vaccine for COVID-19.

Management note that demand for the company's immunoglobulins and influenza vaccines "remains strong". CSL's plasma and manufacturing facilities remain operational, allowing the company to continue serving its markets across the world.

CSL's Seqirus division is expected to perform strongly again in FY21 on the back of government messaging that it believes will encourage the population to protect itself from influenza.Some challenges impacting the plasma industry have been outlined, including difficulties in collecting plasma over recent months amid lockdown measures. Nonetheless, the company continues to invest in plasma collection and expects the pandemic to eventually "recede".