'Poor start to the year': Dermapharm dives on Q1 miss

Dermapharm Holding SE

18/05/2022 09:52

** Shares in Dermapharm  DMPG.DE  are down 6.3%, set for
their worst day in more than four months, after the German
dermatology drugmaker's first-quarter results missed estimates
    ** "Poor start to the year," Stifel says, noting the
quarterly consolidated revenue growth of 9% to 231.6 million
euros ($243.55 million) lies 8% below consensus  urn:newsml:reuters.com:*:nFWN2X91HU
    ** Adjusted EBITDA grew 18% to 75.1 million in the quarter,
missing consensus by 9%, according to the broker
    "Whilst EBITDA growth is significantly above FY22 guidance
of 3-7%, the miss to consensus is still likely to be taken
negatively by the market," Stifel says
    ** The broker says much of the miss may stem from
Dermapharm's Branded Pharmaceuticals division, as its sales were
12% below consensus
    ** Stifel adds the sales miss for the division appears to be
at least partially from lower-than-expected BioNTech  22UAy.DE 
sales
    ** Dermapharm cooperates with the German biotech company for
vaccine production
    ** The stock is at the bottom of the German small-cap index
 .SDAXI 

($1 = 0.9509 euros)

 (Reporting by Alexander Kloss)
 ((alexander.kloss@thomsonreuters.com))