PR Newswire
BARCELONA, Spain , May 9, 2022 /PRNewswire/ --
- Good start to the year with Core Net Sales* at €218.8 MM (+1.6% year-on-year) driven by recently launched products and good performance of European Dermatology portfolio
- Total EBITDA reached €59.6MM which includes a net positive impact of €9MM from the transfer of global rights for Eklira® and Duaklir® from AstraZeneca to Covis Pharma
- Solid Core results with strong EU Dermatology performance as sales increased +31% year-on-year due to the positive contribution from growth drivers. Ilumetri® continues to show strong performance with excellent momentum of the anti IL-23 class while the recent rollouts of Klisyri® and Wynzora® in Europe are gaining good traction
- The company is working hard on the late-stage pipeline to leverage its significant potential and preparing the business for important launches such as lebrikizumab following positive 16 week-data from phase 3 clinical studies reported this quarter
- Mr. Carlos Gallardo has been appointed Chairman and President of the Board of Directors of Almirall at the General Shareholders Meeting on May 6 th . His international experience in the pharmaceutical industry as well as in the digital health sector will support Almirall in its growth trajectory and help position the company as a leader in Dermatology
- Based on the good performance of the business in Q1, Almirall is reiterating its 2022 guidance
Almirall, S.A. (ALM) , the global biopharmaceutical company based in Barcelona , has announced its Q1 2022 financial results.
Summary of results
- Core Net Sales* reached €218.8 MM, a +1.6% year-on-year increase with positive contribution from growth drivers. Core EBITDA* reached €50.3 MM, a -26% year-on-year decrease, in line with expected performance as Q1 2021 had the positive effect of €16MM in one-offs**.
- Total EBITDA was at €59.6 MM, a -19,7% year-on-year decrease, and it includes the net positive impact from other income related to the AstraZeneca and Covis Pharma agreement (€9MM)***.
- Almirall finished Q1 with a very healthy balance sheet with Net Debt of €253.0MM and a 1.1 x Net Debt to EBITDA .
- SG&A (Selling, General and Administrative) expenses were €102.9 MM (47% of Core Net Sales*), higher than last year as expected to support the launch of Wynzora®, Klisyri® in the US & EU, and Ilumetri® rollout in key countries.
- Core Gross Margin * of 66.7% was in line with expectations. Product divestments in Q1 2021 benefited the comparable period.***
*Core business excludes AstraZeneca and Covis Pharma contribution: Deferred Income and Other Income.
** Divestments of a small product in Spain and licensing out income from other products with a combined positive impact on Net Sales of €16 MM.
*** €9 MM booked in Q1 2022 boosting Total EBITDA following from the transfer of global rights for Eklira® and Duaklir® from AstraZeneca to Covis Pharma.
Further information from Almirall's Q1 results is available at: https://www.almirall.com/media/newsroom
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SOURCE Almirall, S.A.