Earnings release
Page 1
● ● almirall feel the science Almirall delivers solid nine months 2021 results and tightens its upgraded guidance ● Press Release Barcelona , Spain November 15 , 2021 Strong Core business performance with growth in Core Net Sales € 601.7 MM ( + 6.2 % year - on - year ) and Core EBITDA reaching € 164.2 MM , ( + 20.3 % year - on - year ) driven by positive contribution from Growth Drivers and a strong EU dermatology performance Key Growth Drivers underpinning increase in Core Net Sales . Strong performance from IlumetriⓇ with sales growing sequentially quarter - on - quarter and Klisyri® receiving positive feedback from dermatologists and patients , making steady gains month over month in the US market and showing strong early positive signals in the recent launch in Germany Top - line read out of lebrikizumab's data in August , with primary and all key secondary endpoints including itch , interference of itch on sleep and quality of life with people with moderate - to - severe atopic dermatitis met at Week 16 in two pivotal Phase 3 trials and safety profile consistent with prior studies Good progress of the remaining late - stage R & D pipeline . Klisyri® recently launched in Germany and the UK with the roll - out on track in the rest of the European market . Successful regulatory approval of Wynzora® in seven EU countries Tightening upgraded Guidance for 2021 : Core Net Sales mid - single - digit growth and Core EBITDA between € 200 MM ( from € 195 MM ) and € 215 MM Simplified capital structure after having successfully issued € 300 MM Senior Notes maturing in 2026 Almirall , S.A. ( ALM ) , the global biopharmaceutical company based Barcelona , has announced today its 9M 2021 financial results . The company reports a robust business performance year - to - date as it sees the continuation of the good momentum from its growth drivers and recent launches . Overall , the solid evolution of the Core business led to the Core EBITDA increasing by 20.3 % from last year , reaching € 164.2 MM for the 9 month period . The normalized net income excluding , among others , the intangible impairments booked in Q2 is slightly down compared to last year reaching € 61.4 MM . The company delivered a very strong Operating Cash Flow generating € 161.4 MM . During this quarter , Almirall has successfully issued € 300 MM Senior Notes maturing in 2026. The new bonds , which will bear an annual interest of 2.125 % payable semi - annually , will be used to repay € 250 MM of convertible bonds that come due at the end of the year . The simplified capital structure brings longer maturity profile and flexibility for additional inorganic growth . Almirall reiterates its upgraded sales guidance for 2021 ( Core Net Sales mid - single - digit growth ) and tightens the Core EBITDA range by increasing the base level to € 200 MM from € 195 MM ( € 200 MM - € 215 MM ) .