It reduces its normalized net profit by 58.8%

Almirall registered a net result of 4.3 million euros in 2022 compared to the losses of 40.9 million euros recorded in 2021, as reported by the biopharmaceutical company on Monday.

The normalized net profit stood at 33.5 million euros in 2022, a figure 58.8% lower than that of 2021.

Total group revenue increased 5% last year, to 878.5 million euros, while core net sales (excluding AstraZeneca and Covis) improved 6.6%, to 863.2 million euros, driven by its European dermatology business.

The gross operating result (Ebitda) of the biopharmaceutical company totaled 198.3 million euros in 2022, with a decrease of 15.8% over 2021, which the company attributes to the greater investment in RD and the increase in general expenses and of administration.

The latter increased by 4.3% in 2022, to 409.7 million euros, due to support for the recent launches of the Wynzora and Klisyri products in Europe and the deployment of Ilumetri in new countries.

All in all, Almirall has highlighted that in 2022 it managed to meet its growth objective both in 'core' net sales and in Ebitda. For 2023, the goal has been set to achieve an Ebitda of between 165 and 180 million euros, and an increase in 'core' sales "from low to medium digits".

Almirall has highlighted that in 2022 it consolidated its position in Europe, with growth of 18.4% in the dermatology business driven by new launches. The company hopes that the upcoming launch of 'lebrikizumab' for atopic dermatitis will place it in a good position to accelerate its growth in the medium term.

"We are satisfied with how Almirall has obtained solid financial results in 2022, meeting our financial estimates, thanks to the excellent evolution of our main business, dermatology, which continues to post good results, driven by the products we have recently launched and the strength shown for our business in Europe", underlined the president and CEO of Almirall, Carlos Gallardo.

Gallardo expects that during 2023 the growth engines of the company will maintain their positive trajectory during this year while the launch of 'lebrikizumab' for atopic dermatitis is prepared.

"We are very well positioned for growth in the medium and long term. The strength of our balance sheet and the flexibility of our capital structure will allow us to continue exploring inorganic growth options that are aligned with our corporate strategy," added Gallardo.

GALLARDO WILL CONTINUE AS CEO

Precisely, Almirall's board of directors has asked Carlos Gallardo to continue as CEO and has temporarily suspended the search for a new CEO "after the positive evolution, performance and momentum of the company towards its key priorities in recent months ".

Gallardo, who has accepted the board's request, will also continue as chairman of the board of directors.

In addition, the council will create a new Governance Committee to control and balance the position of the president-CEO, as specified by the biopharmaceutical company.

The company has also reported that it will propose the payment of a dividend of 0.19 euros per share for approval at the next annual general meeting, scheduled for May 5, an amount that is in line with the dividend of previous years.