• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases
      • All News Releases
      • All Public Company
      • English-only


      • News Releases Overview
      • Multimedia Gallery
      • All Multimedia
      • All Photos
      • All Videos


      • Multimedia Gallery Overview
      • Trending Topics
      • All Trending Topics


  • Business & Money
      • Auto & Transportation
      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation


      • Auto & Transportation Overview
      • Business Technology
      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors


      • Business Technology Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Financial Services & Investing
      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Stock Offering
      • Stock Split
      • Venture Capital


      • Financial Services & Investing Overview
      • General Business
      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News


      • General Business Overview
  • Science & Tech
      • Consumer Technology
      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications


      • Consumer Technology Overview
      • Energy & Natural Resources
      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities


      • Energy & Natural Resources Overview
      • Environ­ment
      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters


      • Environ­ment Overview
      • Heavy Industry & Manufacturing
      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco


      • Heavy Industry & Manufacturing Overview
      • Telecomm­unications
      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications


      • Telecomm­unications Overview
  • Lifestyle & Health
      • Consumer Products & Retail
      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys


      • Consumer Products & Retail Overview
      • Entertain­ment & Media
      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television


      • Entertain­ment & Media Overview
      • Health
      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine


      • Health Overview
      • Sports
      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories


      • Sports Overview
      • Travel
      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry


      • Travel Overview
  • Policy & Public Interest
      • Policy & Public Interest
      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy


      • Policy & Public Interest Overview
  • People & Culture
      • People & Culture
      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women


      • People & Culture Overview
      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO

      Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Policy & Public Interest
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • People & Culture
    • People & Culture
    • Send a Release
    • Sign Up
    • Log In
    • Resources
    • Blog
    • Journalists
    • RSS
    • GDPR
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Almirall's 2020 Full-Year Results
  • USA - English
  • Deutschland - Deutsch

Almirall delivers on latest 2020 guidance and sets growth targets for 2021

Almirall_Logo

News provided by

Almirall, S.A.

Feb 22, 2021, 01:39 ET

Share this article

Share this article


BARCELONA, Spain, Feb. 22, 2021 /PRNewswire/ --

  • The company delivered on its latest guidance despite a challenging year impacted by COVID-19 and the genericization of Aczone®: Net Sales €807.4 MM (-5.4%, flat excluding the Aczone® generic impact), Total Revenues €814.5 MM (-10.3%), EBITDA €238.3MM (-21.7%), all year-on-year and due to the expected generic competition to Aczone in the US and a reduction in milestones from AstraZeneca
  • Almirall appointed Gianfranco Nazzi as the new CEO, effective May 1, 2021. Mr. Nazzi will bring continuity to the strategy as the business prepares for important launches to support future growth prospects
  • A continued positive outlook for key growth drivers will be boosted in 2021 by the recent launch of Klisyri® (tirbanibulin) in the US, with the launch in Europe expected in the second half of 2021 
  • Almirall is advancing our strong late-stage pipeline aiming to unlock  significant mid-term value. Key 2021 milestones are expected to include topline phase 3 lebrikizumab data and the anticipated approval in Europe for a psoriasis cream (calcipotriene and betamethasone dipropionate) commercialised under the tradename Wynzora® in US
  • Introducing Core Guidance for 2021: Core Net Sales growth of mid-single-digit and Core EBITDA of €190-€210 MM (versus 2020 Core EBITDA of €181 MM) which equates to total EBITDA of approximately €215-€235 MM
  • Dividend proposal of €0.19 per share will be submitted at the next Annual General Meeting May 7th

Financial highlights (€ rounded million)






2020

2019

Variation

Variation
(CER1)

Total Revenues

814.5

908.4

(10.3%)

(10.3%)

·  Net Sales

807.4

853.1

(5.4%)

(5.3%)

·  Other Income

7.1

55.3

(87.2%)

(87.5%)

Gross Profit

560.1

603.9

(7.3%)

(7.1%)

·  % of sales

69.4%

70.8%



EBITDA

238.3

304.2

(21.7%)

(21.6%)

Normalized Net Income

95.1

136.1

(30.1%)

(29.9%)

[1] CER (Constant Exchange Rates): Excluding the effects of exchange rate fluctuations.


"2020 has been a challenging year given the impact of COVID-19 and the genericization of Aczone®, however, we have delivered the latest guidance with an EBITDA of €238.3 MM and Net Sales of €807.4 MM.

The pandemic has created an unprecedented situation and I am proud of our employees who have worked hard and continued to put the patient at the heart of everything we do. We maintained our unwavering commitment to patients and we ensured an uninterrupted supply of our medicines for patients in need throughout the pandemic.

To highlight our key products performance, Ilumetri® continued to perform strongly with increasing market share within the anti-IL23 class in Germany. Skilarence® performed within expectations having been impacted by COVID-19 related restrictions. Seysara® has seen a modest recovery from May 2020 having also been adversely impacted by COVID-19. We rely on growth in our key products to continue to improve our core EBITDA in 2021 and we expect Core Net sales to be boosted by new launches, like Klisyri® for actinic keratosis. Klisyri® was recently launched in the US and is expected to be launched in Europe in H2 2021, with global peak sales expected to reach €250 million in the future.

We have begun 2021 with the appointment of Gianfranco Nazzi as the new CEO of Almirall, effective May 1, 2021. We are sure that his wealth of international experience in the pharmaceutical sector will help Almirall achieve its objectives of sustained growth in its core business going forward.

We have also announced two important collaborations during the first weeks of 2021 with Tyris Therapeutics and MC2 Therapeutics that will reinforce our pipeline potential and will allow Almirall to expand its innovative options in Medical Dermatology. We will continue to make significant efforts to build and develop our pipeline of future products by maintaining an investment of around 10% to 12% of our annual Net Sales in R&D. Almirall is very well positioned and has all of the ingredients to grow our core business in the coming years."

Mike McClellan, CFO and Interim CEO.

Almirall, S.A. (ALM) the global biopharmaceutical company based in Barcelona, has announced its full-year 2020 financial results today.  

Summary results

  • Net Sales of €807.4 MM represents a decline of 5.4% year-on-year, impacted both by COVID-19 and the generic competition to Aczone®. Net sales excluding the impact of the Aczone® generic competition in the US were flat versus 2019.
  • Total Revenues reached €814.5 MM, a 10.3% year-on-year decrease, and were additionally impacted by the expected significant decline in Other Income (-87.2%) due to the reduction in milestones from AstraZeneca.
  • Gross Profit of €560.1 MM reflected a decline of -7.3% as expected relating to the generic competition to Aczone® in the US.
  • Operating Cash Flow reached €165 MM (+95% growth vs. 9M 2020) and Financial Debt totalled €392.5 MM, ending with a net debt to EBITDA ratio of 1.6x.
  • Research & Development expenses were €78.9 MM (-14.4%).
  • Selling, General & Administrative expenses were €370.2 MM, with a 6.1% lower spend on sales & marketing largely due to COVID-19.
  • EBITDA for 2020 was €238.3 MM, down 21.7% driven by the generic competition to Aczone® as well as the significant decline in Other Income.
  • Normalised Net Income was €95.1 MM.
  • Shareholders Equity represented 56.8% of Total Assets.  

Conclusions and 2021 Outlook

We delivered the latest Guidance despite a challenging year with impact from COVID-19 and the generic competition of Aczone®. Our key products and new launches will continue to grow our Core Net Sales and Core EBITDA in 2021. With the arrival of Gianfranco Nazzi as the new CEO, we will continue to drive our strategy as the business prepares for important launches to support future growth prospects. At Almirall, we are committed to developing our pipeline to unlock the significant potential to grow our core Medical Dermatology business with exciting milestones coming in 2021. We are also focused on leveraging our strong balance sheet for external opportunities to generate sustainable value for shareholders.

2021 Full Year Guidance vs. 2020

Core Net Sales: mid-single-digit growth (versus €755 MM in 2020).

Core EBITDA: between €190 - €210 MM (versus €181 MM in 2020) which equates to approximately €215 - €235 MM of total EBITDA.

For more information on 2020 Full year results,  please visit https://www.almirall.com/newsroom/news/2020_financial_results

Logo - https://mma.prnewswire.com/media/1217694/Almirall_Logo.jpg

SOURCE Almirall, S.A.

Modal title

Also from this source

Almirall and MC2 Therapeutics enter a license, collaboration and...


Almirall announces Gianfranco Nazzi as new CEO...

Explore

More news releases in similar topics

  • Biotechnology
  • Pharmaceuticals
  • Medical Pharmaceuticals
  • Health Care & Hospitals
  • Banking & Financial Services

    Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

    Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

    About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement

    • Asia
    • Brazil
    • Canada
    • Czech
    • Denmark
    • Finland
    • France
    • Germany
    • India
    • Israel
    • Italy
    • Mexico
    • Middle East
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Russia
    • Slovakia
    • Spain
    • Sweden
    • United Kingdom

    My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision


Products


About


My Services
  • All News Releases
  • Online Member Center
  • ProfNet℠
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2021 Cision US Inc.