Spain · Delayed Price · Currency is EUR Almirall Earnings Call Transcripts
Fiscal Year 2026
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Net sales rose 7.5% to EUR 603 million in H1 2026, led by strong European dermatology growth and robust performance from Ilumetri and Ebglyss. EBITDA margin reached 25%, achieving the 2028 target early, and full-year guidance is reiterated with further acceleration expected in H2.
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Q1 2026 saw steady growth driven by strong biologics performance, especially Ebglyss and Ilumetri, with net sales up 2.2% year-over-year and robust expansion in European dermatology. Guidance for 2026 is reiterated, supported by a deep pipeline and disciplined capital allocation.
Fiscal Year 2025
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Delivered strong 2025 results with 12.4% net sales growth and 21% EBITDA increase, driven by European dermatology and biologics. 2026 guidance targets 9%-12% sales growth and continued margin expansion, supported by a robust pipeline and financial flexibility.
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Strong year-to-date growth driven by dermatology portfolio, with Illumetri and Ebgly leading sales increases. Guidance for 2025 is reiterated, targeting double-digit net sales CAGR through 2030 and a 25% EBITDA margin by 2028. Margin pressure from royalties and evolving competition noted.
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Strong H1 2025 results with 13% net sales growth, led by ILUMETRI and Eblis, support reaffirmed guidance and midterm outlook. Robust pipeline progress, disciplined capital allocation, and low leverage position the company for continued growth.
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Dermatology-focused growth is driven by strong launches of Ebglyss and Ilumetri, with double-digit sales growth and margin expansion expected through 2028. A robust pipeline, stable mature portfolio, and minimal US exposure position the company for sustained value creation.
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Q1 2025 saw double-digit sales and EBITDA growth, led by Ilumetri and Eblas, with strong European dermatology performance and robust R&D investment. Guidance for 2025 and midterm outlook were reiterated, with minimal tariff risk and continued focus on innovation and market expansion.
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Strong growth in medical dermatology is driven by leading biologics Ebglyss and Ilumetri, with robust sales, expanding indications, and a promising pipeline. Double-digit sales growth and margin expansion are expected through 2028, supported by disciplined R&D and selective M&A.
Fiscal Year 2024
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Double-digit net sales and EBITDA growth in 2024 were driven by strong execution in dermatology, especially with Ilumetri and Ebglyss. 2025 guidance anticipates further acceleration in sales and margin expansion, supported by robust pipeline investments and continued market expansion.
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Net sales rose 7.9% to EUR 728 million and EBITDA grew 3% in the first nine months of 2024, driven by strong European dermatology performance and successful launches of Ilumetri and EBGLYSS. Guidance for the full year is reiterated, with continued investment in R&D and expectations for margin expansion.
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Strong H1 2024 results with 7% net sales growth and 3.2% EBITDA increase, led by European dermatology. Key products Ilumetri and Ebglyss drove performance, with further launches and R&D progress supporting reiterated full-year guidance.