Almirall jumps with FY EBITDA growth, outlook

Almirall

24/02/2025 08:46

** Shares in Almirall  ALM.MC  rise 7.5%, one of the best
performers on the Madrid General Index  .SMSI , after the
Spanish drugmaker said its FY EBITDA grew 10.6% year-on-year to
192.6 million euros ($201.84 million)
    ** Dermatology sales were up 17.8% year-on-year and the
company recorded a net profit of 10.1 million euros after a net
loss of 38,5 million euros in 2023, but below a consensus of
17.8 million euros gain
    ** Jefferies says net sales are broadly in-line with cons
and its own estimates, adds EBITDA is 3% ahead of consensus but
impairments drive a net income miss
    ** "Cons is in-line with initial 2025 implied sales and
EBITDA outlook", Jefferies says 
    ** The broker adds also Almirall is aiming for a high double
digit organic CAGR in biologics sales, driven by Ebglyss' strong
performance in EU, plus Ilumetri's robust growth in an
increasingly competitive market
    ** Jefferies underlines Ebglyss opportunity still not
priced-in and sees a robust 11.5% net sales growth with
operating leverage then driving an attractive +34.8% adjusted
EPS CAGR over 2024-27E
    ** Up to the previous session's close, shares were up 10.7%​
YTD


($1 = 0.9542 euros)

 (Reporting by Tiago Brandao)
 ((Tiago.Brandao@thomsonreuters.com;))