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Almirall turns around and posts slight gains after halving profit

Date: May 19, 2024 Time: 15:20:50

Almirall’s shares registered moderate rises and experienced a slight increase of 0.41%, up to 8.52 euros after publishing its accounts for the first half, which showed a net profit of twelve million euros, a figure 56% lower than the same period in 2022.

Almirall has notified the National Securities Market Commission (CNMV) that at the end of June the company’s net sales reached 466.1 million euros between January and June, 6.8% more, driven by its European dermatology business, which increased its sales by 15% compared to the first half of 2022, to almost 195 million euros, thanks to its key products and recent launches.

The gross operating result (Ebitda) of the biopharmaceutical company totaled 101.3 million euros in the first half, with a decrease of 5.9% compared to the same period last year. The company has attributed the decrease in its Ebitda to the lower contribution, compared to the first half of 2022, of the other income item due to the reduction in income received as milestones within the agreement with Astra Zeneca/Covis.

In any case, after the results of the first semester, Almirall maintains its estimates of achieving in 2023 a growth in its net sales “of a low to medium digit” and an Ebitda of between 165 and 180 million euros. Until June, the group made an investment in general and administration expenses of 214.6 million euros, 2.1% more than last year, to support recent and future launches.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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