Almirall confirms full-year target despite higher costs in first quarter

Almirall

13/05/2024 07:26

May 13 (Reuters) - Spanish pharmaceutical company
Almirall  ALM.MC  on Monday reiterated its profitability targets
for the full-year and said it is seeking acquisition targets,
even though its costs weighed on net profit in the first
quarter.   
    The company said its net profit fell 4% in the quarter to
7.4 million euros ($7.97 million) on higher costs, while
earnings before interest, taxes, depreciation and amortisation
rose 1.4% to 52.5 million euros.
     Almirall said it is on track to meet its 2024 full-year
target of EBITDA of between 175 and 190 million euros, up from
174 million euros in 2023 and high-single digit net sales
growth. It added it seeks "new inorganic growth opportunities."
    ($1 = 0.9282 euros)

 (Reporting by Matteo Allievi, editing by Inti Landauro and
Louise Heavens)
 ((matteo.allievi@thomsonreuters.com;))