Half Year 2025 Galderma Group AG Earnings Call Transcript
Key Points
- Galderma Group AG (GDERF) reported a record net sales of $2.45 billion for the first half of 2025, representing a 12.2% year-on-year growth at constant currency.
- The company achieved double-digit growth in 7 out of its 10 markets, with significant market share gains in injectable aesthetics and dermatological skincare.
- Strong performance in injectable aesthetics, with net sales reaching $1.2 billion, up 9.8% year-on-year at constant currency.
- Galderma Group AG (GDERF) successfully reduced net leverage to 2.1 times and repaid $110 million of debt, while refinancing $1.04 billion of its term loan.
- The company raised its full-year guidance on net sales to 12% to 14% year-on-year growth at constant currency, up from the previous range of 10% to 12%.
- The margin of 22.7% reflects the anticipated adverse impact from nemolizumab, affecting profitability.
- The fillers segment faced challenges due to lower consumer demand and aggressive promotional activity from competitors, particularly in the US.
- Pricing pressures impacted the gross margin, especially in the US market.
- The company anticipates a slight decrease in underlying profitability in the second half due to increased marketing activities, US tariffs, and R&D spend phasing.
- There is a potential impact from US tariffs, which the company deems manageable but could affect future profitability.
Good day and thank you for standing by. Welcome to Galderma conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session with financial analysts. To ask a question during the session, analysts connected on the teleconference call will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to Emil Ivanov, head of strategy, Investor Relations and ESG to introduce the call. Emil, please go ahead.
Thank you. Welcome to the Germa half year 2025 financial results call. As customary, the press release, along with Germa's interim condensed financial statements were published at 7:00 a.m. Central European Standard Time today and can be consulted on our corporate website at any time.
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