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22-Mar-2022

Dermapharm Holding SE: Most successful business year in the company's history - Adjusted Group EBITDA at the upper end of the outlook

DGAP-News: Dermapharm Holding SE / Key word(s): Preliminary Results
22.03.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

Dermapharm Holding SE: Most successful business year in the company's history - Adjusted Group EBITDA at the upper end of the outlook

» Group turnover increased by around 19% versus previous year to EUR 943 million

» Adjusted Group EBITDA increased by around 75% to EUR 351 million

» Adjusted Group EBITDA margin of 37.2%

» Strong demand for immuno-strengthening products

» Encouraging development of Allergopharma products


Grünwald, 22 March 2022 - Dermapharm Holding SE ("Dermapharm"), a fast-growing manufacturer of branded pharmaceuticals, today publishes its unaudited preliminary IFRS consolidated financial figures for the financial year 2021. Despite difficult general conditions due to the COVID-19 pandemic, price increases in procurement and emerging supply bottlenecks, Dermapharm has succeeded in meeting the guidance for the financial year 2021 published in December 2021 and in continuing its profitable growth course. Dermapharm's broadly positioned product portfolio and its deep in-house value creation had a particularly positive effect on the successful business development in 2021.

Group revenue increased by 19% to EUR 943 million in the 2021 financial year (previous year: EUR 794 million). Group earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off effects of EUR -3.3 million, rose by 75% year-on-year to EUR 351 million (previous year: EUR 201 million). Compared to the 2020 financial year, the adjusted Group EBITDA margin increased by 11.9 percentage points to 37.2% (previous year: 25.3%). Unadjusted Group EBITDA improved by 91% to EUR 354 million in the reporting period just ended (previous year: EUR 185 million), corresponding to an unadjusted Group EBITDA margin of 37.6% (previous year: 23.2%).

"The year 2021 was the most successful financial year in our 30-year company history; we can all be very proud of this. Despite the ongoing COVID-19-pandemic as well as increasing price increases and scarcity of resources, we succeeded in further developing the company, providing significant support in the fight against the pandemic and ensuring permanent supply availability of the product range", said Dr. Hans-Georg Feldmeier, CEO of Dermapharm Holding SE.

The growth drivers in the 2021 financial year were the continued high demand for products to strengthen the immune system, above all the vitamin D preparations of the Dekristol(R) and Dekristolvit(R) family, the Allergopharma preparations for specific immunotherapy and the vaccine production in cooperation with BioNTech SE. However, significant growth was also achieved in the rest of the portfolio with products such as Ketozolin(R), Myditin(R), Hygroton(R), Solacutan(R) or Calcipotriderm(R).

"Our broadly diversified brand product portfolio performed better than the reference market in the past business year. Independence from the success of individual products is a decisive success factor, especially in times of crisis. Particularly in view of the inconceivable war in Ukraine, which is currently overshadowing global economic developments, it is essential to have a robust business model and to be able to adapt to changing market conditions", Dr. Feldmeier explains.

"We are following the events in Ukraine with great concern. Dermapharm Holding SE and its subsidiary mibe Ukraine LLC are also affected by this conflict. Our concern and sympathy are naturally with the civilian population on the ground. We are in contact with our employees and offer them help and support. Together with our staff, we are also supporting Ukraine not only with financial donations, but also with donations of medicines", Dr. Feldmeier continues.

Dermapharm will publish an outlook for the current financial year on 29 March 2022. Dermapharm will announce the final audited figures for the 2021 financial year with the full 2021 annual report on 12 April 2022.

IFRS financial figures compared to the previous year (preliminary)

EUR million 2021 2020 Change
Consolidated revenue 943 794 +19%
Adjusted consolidated EBITDA* 351 201 +75%
Adjusted EBITDA margin* (%) 37.2 25.3 +11.9 pp
Consolidated EBITDA 354 185 +91%
EBITDA margin (%) 37.6 23.2 +14.4 pp

* EBITDA 2021 was adjusted for nonrecurring expenses amounting to EUR -3.3 million.
* EBITDA 2020 was adjusted for nonrecurring expenses amounting to EUR 16.1 million.


Company profile:

Dermapharm - Pharmaceutical Excellence "Made in Germany"

Dermapharm is a rapidly growing manufacturer of branded pharmaceuticals. Founded in 1991, the company is based in Grünwald near Munich. The company's integrated business model comprises inhouse development, production and the distribution of brand products by a trained pharmaceutical sales force. In addition to its main location in Brehna near Leipzig, Dermapharm also operates other production, development and distribution locations in Europe (primarily in Germany) and the United States.

In the "Branded pharmaceuticals and other healthcare products" segment, Dermapharm has approximately 1,300 marketing authorisations with more than 380 active pharmaceutical ingredients. Dermapharm's portfolio of pharmaceuticals, medical devices and food supplements are tailored to selected therapeutic areas in which the Company is a market leader, especially in Germany.

In the "Herbal extracts" segment, Dermapharm can tap the expertise of 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. Since the beginning of 2022, the segment has been complemented by the German C³ Group, which develops, produces and markets natural and synthetic cannabinoids. The C³ Group is the market leader for dronabinol in Germany and Austria.

Dermapharm's business model also includes the "Parallel import business" segment that operates under the "axicorp" brand. Based on revenue, axicorp was among the top five parallel import companies in Germany in 2021.

With a consistent R&D strategy and numerous successful product and company acquisitions and by stepping up its internationalisation efforts, Dermapharm has continuously optimised its business over the past 30 years and sought external growth opportunities in addition to organic growth. Dermapharm is firmly committed to continuing on this profitable growth course in the future.

Contact

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



22.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: Dermapharm Holding SE
Lil-Dagover-Ring 7
82031 Grünwald
Germany
Phone: +49 (0)89 64 86-0
E-mail: ir@dermapharm.com
Internet: ir.dermapharm.de
ISIN: DE000A2GS5D8
WKN: A2GS5D
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 1307911

 
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Last Updated: 22-Mar-2022