Q1 2026 Almirall SA Earnings Call Transcript
Key Points
- Almirall SA (ALMRY) reported a steady performance in Q1 2026, aligning with market expectations and maintaining a 9% net sales growth over the last 12 months.
- The company's biologics portfolio, particularly Ilumetri and Ebglyss, showed strong growth, with Ilumetri achieving a 12% year-on-year increase in net sales.
- Ebglyss has rapidly become the second largest product for Almirall SA (ALMRY), with sales more than doubling to EUR42 million, driven by successful European rollout.
- Almirall SA (ALMRY) continues to advance its pipeline with three proof-of-concept studies in Phase II and plans for three additional studies, indicating a robust R&D strategy.
- The company maintains a strong financial position with a net debt-to-EBITDA ratio of 0.1, providing financial flexibility for future investments.
- The first-quarter growth appeared lower due to the high comparative base from Q1 2025, which included divestments and revenue phasing effects.
- The US market performance declined year-on-year, impacted by ongoing generic competition and exchange rate fluctuations.
- SG&A expenses are expected to increase in the coming quarters, driven by the phasing of marketing and promotional activities.
- The gross margin faced slight pressure due to higher royalty tiers associated with Ilumetri's net sales growth.
- Legacy products such as Crestor, Sativex, and Eklira experienced lower sales, offsetting gains from other products.
Good day, and thank you for standing by. Welcome to the Almirall's first-quarter 2026 results conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Pablo Divasson, Head of Investor Relations. Please go ahead.
Thank you very much, Matalena. Good morning, everyone. Thank you for joining us for today's quarterly earnings update and review of Almirall's first-quarter financial results for 2026. As always, we are sharing the slides we are using today in the Investors section of almirall.com.
Please move to slide number 2. Let me remind you that information presented in this call contains forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from what we are sharing today.
Please move to slide 3. Presenting today, we have Carlos Gallardo, Chairman and Chief Executive Officer
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
