EQS-News

Strong organic growth in core markets underscores resilience of Dermapharm Holding SE's corporate strategy

EQS-News: Dermapharm Holding SE / Key word(s): Quarterly / Interim Statement/Quarter Results Strong organic growth in core markets underscores resilience of Dermapharm Holding SE's corporate strategy 15.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Strong organic growth in core marketsunderscores resilience of Dermapharm Holding SE's corporate strategy

  

• Robust, double-digit organic growth in high-margin "branded pharmaceuticals" largely offsets projected decline in vaccine production.
• Revenue in "Other healthcare products" segment down year on year due to temporary consumer reticence, particularly in France.
• Consolidated revenue falls as projected by 6.4% year on year to EUR 298.7 million; above-average profitability in the vaccine business in the prior-year quarter leads to decline in adjusted EBITDA in Q1 2024 by 16.2% to EUR 88.7 million.
• Board of Management confirms outlook for 2024 overall, continues to expect consolidated revenue of EUR 1,170–1,210 million and adjusted EBITDA of EUR 305–315 million.

 

Grünwald, 15 May 2024 – Dermapharm Holding SE ("Dermapharm"), a rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today publishes its results for the first three months of 2024.

The existing portfolio in the "Branded pharmaceuticals" segment again recorded strong organic growth in Q1 2024 as against the prior-year quarter, meaning that the decline in vaccine revenue was largely, albeit not entirely, compensated for. In addition, the consumer reticence observed in recent months, particularly in France, caused revenue at Arkopharma to decline temporarily. Consolidated revenue declined slightly as a result, falling by 6.4% year on year to EUR 298.7 million (Q1 2023: EUR 319.1 million).

The tapering off of the vaccine business also impacted EBITDA. Adjusted EBITDA declined by 16.2% to EUR 88.7 million (Q1 2023: EUR 105.8 million). This translates to a margin of 29.7% (Q1 2023: 33.2%). After adjusting for the vaccine business, however, EBITDA and the EBITDA margin rose sharply – demonstrating the robustness and profitability of the Dermapharm Group's underlying sustainable business.