Q3 2025 Almirall SA Earnings Call Transcript
Key Points
- Almirall SA (FRA:E2Z) reported a strong performance with net sales growing nearly 13% year on year, driven by the European dermatology portfolio.
- The company remains on track to achieve over 300 million in peak net sales for its product Ilumetri, which has shown steady 12% growth year on year.
- Almirall's product, Elis, has quickly become the second best-selling product, with sales nearly quadrupling year on year to 75.5 million.
- The company has a low net debt to EBITDA ratio of 0.1, providing significant flexibility for licensing opportunities and acquisitions.
- Almirall's R&D pipeline is progressing well, with several phase 2 clinical studies planned across different dermatological diseases in the coming months.
- Gross margin moderated to 64.9% of sales, reflecting ongoing pressure related to Ilumetri royalties.
- SG&A expenses increased by 6.2%, with expectations of further pickup in expenditure in the final quarter.
- The company's performance in the US declined due to persistent pressure on the legacy portfolio and ongoing generic competition.
- R&D spending increased by about 14% year on year, which may impact short-term profitability.
- The effective tax rate remains high at around 40%, impacted by the inability to offset US tax losses against European profits.
Good day and thank you for standing by. Welcome to the Almirall nine month 2025 financial results and business update, conference call and webcast. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to our first speaker today, Pablo Divason, head of IR. Please go ahead, sir.
Thank you very much, Nadia.
Thank you for joining us for.
Update and review of Almira.
Months financial results after.
As always, we are sharing deadlines we are using today in the investor section.
Please move to item 2.
Remind you that the information presented in this code contains form.
Which involve non.
Risk, uncertainties and.
That may cause actual results to materially differ from what we are sharing today. Please move.
Lovely.
Presenting today we have Carlos Ayala, Chairman and chief.
John.
And.
Carlos
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