Almirall falls more than 2% at the opening after announcing a 56% drop in its half-year result

July 24 () –

Almirall’s shares fell more than 2% in the early stages of the session on Monday after publishing its accounts for the first half, with a net profit of 12 million euros, a figure 56% lower than that of the same period of 2022.

The biopharmaceutical company started the trading session downward, with a decrease of 2.12% around 9:45 am, to 8.31 euros per share.

Almirall notified the National Securities Market Commission (CNMV) that at the end of June the company’s net sales reached 466.1 million euros between January and June, 6.8% more, driven by its European dermatology business, which increased its sales by 15% compared to the first half of 2022, to almost 195 million euros, thanks to its key products and recent launches.

The gross operating result (Ebitda) of the biopharmaceutical company totaled 101.3 million euros in the first half, with a decrease of 5.9% compared to the same period last year.

The company has attributed the decrease in its Ebitda to the lower contribution, compared to the first half of 2022, of the other income item due to the reduction in income received as milestones within the agreement with Astra Zeneca/Covis.

In any case, after the results of the first half, Almirall maintains its estimates of achieving “low to medium single-digit” net sales growth in 2023 and an Ebitda of between 165 and 180 million euros.

Until June, the group made an investment in general and administration expenses of 214.6 million euros, 2.1% more than last year, to support recent and future launches.