(CercleFinance.com) – The Spanish pharmaceutical company Almirall took nearly 4% on the Madrid Stock Exchange on Monday after reporting better-than-expected annual results.
The Barcelona-based group, which specializes in dermatology, announced this morning that it has achieved its objectives for the 2022 financial year, in particular by generating a turnover up 6.6% to 863.2 million euros.
The consensus for its part anticipated a turnover of 855 million euros.
Operating profit (Ebitda) stood at 198.3 million euros, a figure down 15.8% year-on-year but above the consensus of 194 million euros.
For 2023, Almirall expects to record a turnover increase of 0% to 5% compared to 2022 for an Ebitda expected between 165 and 180 million euros.
According to analysts, these prospects, admittedly a little disappointing, bear witness to the increased investment effort made by the Spanish group.
“While this penalizes our short-term forecasts, we remain optimistic about the medium-term growth prospects, with the authorization for lebrikizumab in the second half, which will undoubtedly be the catalyst of the year”, underline so RBC analysts.
According to them, lebrikizumab, an experimental treatment against atopic dermatitis, could call into question the status of Sanofi’s Dupixent, whose sales currently amount to several billion euros in Europe alone.
Since a historic strategic shift initiated in 2014, Almirall has shown its ambition to become a ‘major’ player in medical dermatology.
Listed on the IBEX 35 index, the stock rose 3.8% on Monday following this publication.
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