EQS-News: Dermapharm Holding SE increases revenue as projected and exceeds guidance for adjusted consolidated EBITDA

Dermapharm Holding SE increases revenue as projected and exceeds guidance for adjusted consolidated EBITDA

• Consolidated revenue up 4.0% to EUR 1,180.8 million, driven by strong organic growth in the "Branded pharmaceuticals" segment
• Above-average increase in unadjusted consolidated EBITDA by 10.2% to EUR 308.9 million, unadjusted EBITDA margin improves by 1.5 percentage points to 26.2%
• Adjusted consolidated EBITDA of EUR 315.6 million results in adjusted EBITDA margin of 26.7%; adjustments decrease significantly to EUR 6.7 million compared to 2023
• Further EBITDA growth expected at the Group level, due primarily to the continued positive performance of the German branded pharmaceuticals business and the associated internationalisation efforts
• Board of Management intends to propose a dividend of 90 cents per share for the past financial year to the Annual General Meeting

Grünwald, 14 March 2025 – Dermapharm Holding SE ("Dermapharm"), an innovative and rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today published its unaudited preliminary consolidated figures (IFRS) for 2024 financial year.

The Group increased revenue by 4.0% to EUR 1,180.8 million in the reporting period (prior-year period: EUR 1,135.4 million). Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 1.7% to EUR 315.6 million (prior-year period: EUR 310.2 million). The adjusted consolidated EBITDA margin amounts to 26.7% (prior-year period: 27.3%). Unadjusted consolidated EBITDA rose by 10.2% from EUR 280.3 million in the prior-year period to EUR 308.9 million, with the unadjusted consolidated EBITDA margin improving by 1.5 percentage points to 26.2% (prior-year period: 24.7%). The Board of Management intends to propose a dividend of 90 cents per share for the past financial year to the Annual General Meeting.

"Once again, our integrated business model, which is based on a broad portfolio of products and proximity to our customers, has proven itself in a challenging market environment. The 'Made in Europe' quality seal stands for supply security and efficiency. These keys to success will ensure that we continue to grow in the current 2025 financial year and create long-term value for our shareholders," said Dr Hans-Georg Feldmeier, Chairman of the Board of Management of Dermapharm Holding SE.

Branded pharmaceuticals

The "Branded pharmaceuticals" segment recorded particularly strong organic growth. Both the branded pharmaceuticals business in the core DACH markets and the internationalisation strategy are key growth drivers for the Group. For the first time, Montavit was consolidated for the entire 12-month period in the past financial year (compared to just six months in 2023), resulting in positive inorganic revenue and earnings contributions. The increase in EBITDA also reflects this revenue growth.

Other healthcare products

The "Other healthcare products" segment recorded a decline in revenue and EBITDA, which was attributable primarily to the decrease in revenue at the Arkopharma Group. The first half of 2023 was marked by exceptionally high sales in the French pharmacy market, driven by a price increase at the beginning of 2023 and major product launches. Although sales to end customers via pharmacies remained at a high level, pharmacies began reducing their sizeable inventories at the end of 2023, resulting in lower demand in the first months of 2024. This trend was amplified by increasingly fierce competition and the associated pressure on prices and volumes. The decrease at Candoro ethics was primarily due to the relocation and consolidation of production at the new Friedrichsdorf site. The extremely solid organic growth and the in some cases fast-growing contributions from other companies in this segment were unable to offset the decline in revenue and EBITDA.

Parallel import business

The good availability of products led to an increase in revenue in the "Parallel import business" segment. However, regulatory changes have led to high statutory discounts, which, together with higher costs, have had a negative impact on earnings.

Further growth expected in financial year 2025

The Board of Management expects consolidated revenue of between EUR 1,160 million and EUR 1,200 million in the current financial year. Adjusted EBITDA is expected to grow to between EUR 322 million and EUR 332 million.
The Board of Management intends to propose a dividend of 90 cents per share for the past financial year to the Annual General Meeting. Dermapharm will publish its final audited figures for financial year 2024 along with its complete 2024 annual report on 28 March 2025.

IFRS figures for 2024 and the prior-year period

(excluding segment reconciliation/Group holding company)

 * 2024 EBITDA adjusted to eliminate non-recurring items amounting to EUR 6.7 million, including EBITDA of EUR -5.4 million at the Group holding company.
   2023 EBITDA adjusted to eliminate non-recurring items amounting to EUR 29.9 million, including EBITDA of EUR -5.6 million at the Group holding company.

Company profile:

Dermapharm – Pharmaceutical Excellence "Made in Europe"

Dermapharm is an innovative and rapidly growing manufacturer of branded pharmaceuticals and other healthcare products. Founded in 1991, the Company is based in Grünwald near Munich. In addition to its main location in Brehna near Leipzig, Dermapharm also operates other production, development and distribution locations in Germany, the rest of Europe and the United States.

In the "Branded pharmaceuticals" segment, Dermapharm has more than 1,300 marketing authorisations with roughly 400 active pharmaceutical ingredients. Dermapharm's portfolio of pharmaceuticals is tailored to selected therapeutic areas in which the Company is a market leader, especially in Germany. The Company's integrated business model extends from in-house product development and production through quality management and logistics to the distribution of branded pharmaceuticals by a trained pharmaceutical sales force.

Dermapharm bundles food supplements, herbal pharmaceuticals, cosmetics, medical devices, herbal extracts and medicinal cannabis in its "Other healthcare products" segment. In this segment, Dermapharm can tap the expertise of Arkopharma, the market leader for herbal food supplements in France, and the Spanish company Euromed S.A., a leading global manufacturer of herbal extracts and plant-based active ingredients for the pharmaceuticals, nutraceuticals, foodstuffs and cosmetics industries.

Dermapharm also operates the "Parallel import business" segment under the axicorp brand. axicorp imports originator pharmaceuticals from other EU Member States and resells them to pharmaceuticals wholesalers and pharmacies in Germany. This enables axicorp to benefit from the different pricing structures in the individual EU member states. Based on revenue, axicorp is currently the sixth largest parallel importer in Germany.

With a consistent R&D strategy and numerous successful product and company acquisitions and by stepping up its internationalisation efforts, the Group is continuously optimising its business activities and seeks external growth opportunities in addition to organic growth.

Contact

Investor Relations & Corporate Communications
Britta Hamberger
Tel.: +49 (0)89 – 64186-233
E-mail: ir@dermapharm.com