Galderma Group Ag · SIX:GALD
Galderma — Q1 2025 Earnings Presentation
32 slides from Galderma's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 trading update
Q1 2025 trading update APRIL 24, 2025
Slide 2: Forward-looking statements
Forward-looking statements Certain statements in this Presentation are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", " believes", "expects", "anticipates", "intends", "estimates",
Slide 3: Agenda: Highlights, Performance update, Trading update & outlook, Q&A
1. Highlights Flemming Ørnskov, M.D., MPH Chief Executive Officer 2. Performance update 3. Trading update & outlook Thomas Dittrich Chief Financial Officer 4. Q&A and final remarks 3
Slide 4: Highlights
GALDERMA EsT.1981 Highlights
Slide 5: 2025: A year of opportunities
2025: A year of opportunities 1 The first of 2 years with significant launches 2025-26 includes Nemluvio, Relfydess, Sculptra (China), Restylane SHAYPE (Brazil), new Restylane indications (U.S.), and Dermatological Skincare ongoing innovation 5 Dynamic approach 2 Global opportunity for further marke
Slide 6: Key highlights
Key highlights Record net sales for Q1, ahead of expectations, benefitting from focused Q1 2025 1,129 execution, favorable phasing in Injectable ACTUALS Net sales in M USD Aesthetics, and stronger than expected ramp- up of Nemluvio Broad-based growth across all product Q1 2025 +8.3% categories and g
Slide 7: Performance update
GALDERMA 2. Performance update
Slide 8: Strong momentum in net sales growth
Strong momentum in net sales growth Q1 2025 constant currency year-on-year growth DERMATOLOGICAL THERAPEUTIC INJECTABLE AESTHETICS SKINCARE DERMATOLOGY +9.9% +7.8% +4.9% +8.3% Volume as the primary FILLERS & growth driver NEUROMODULATORS BIOSTIMULATORS +21.4% -2.3% +10.4% International +5.0% U.S. 8
Slide 9: Injectable Aesthetics
Injectable Aesthetics Key highlights
Slide 10: Notable focus on innovation in International markets
Notable focus on innovation in International markets Relfydess showcased in major European aesthetics congresses Sculptra accelerated launch in China Restylane Shaype Brazil training 10
Slide 11: Advancing and amplifying in-market execution
Advancing and amplifying in-market execution Global Dysport campaign Journey of Glow Injectable Aesthetics campaign in Asia Sculptra re-energized activation in Latin America 11
Slide 12: Expanding market leading education & services: Latin America highlights
Expanding market leading education & services: Latin America highlights 1st aesthetics loyalty program in Brazil International Congress of Dentistry GAIN Colombia Brazil for healthcare professionals 12
Slide 13: Dermatological Skincare
Dermatological Skincare Key highlights
Slide 14: Continued focus on differentiated innovation through geographic and portfolio expansion
Continued focus on differentiated innovation through ongoing geographic and portfolio expansion First launches Ongoing global roll-outs Next Generation TriHex Technology Volume improvement of 1.08 CC (right) compared to baseline (left) at 12 weeks 14
Slide 15: Focused omni-channel execution and leveraging education & training platform
Focused omni-channel execution and leveraging further Galderma’s leading education & training platform Digital-/ advocacy-first activation Holistic portfolio Retailer fundamentals engagement Global roll-out of SKIN1 CTMP2 showcased in medical congresses South Korea first symposium India Dermacon ann
Slide 16: Therapeutic Dermatology
Therapeutic Dermatology Key highlights
Slide 17: Nemluvio U.S. ramp-up continues to progress strongly
Nemluvio U.S. ramp-up continues to progress strongly Continued growth in new patient starts, new prescribers, & weekly pull-through, underpinned by growing underlying demand Paid NBRx1 weekly market share (new patient starts): • Prurigo nodularis: Trending at ~30% in a rapidly expanding market (from
Slide 18: Nemluvio launching Internationally, starting with Germany
Nemluvio launching Internationally, starting with Germany Strong activation 100 dermatologists Ahead of targets on healthcare professional reach, patient attending from demand, and pharmacies’ re-order rate 8 countries Positive feedback 700+ speaker events, Very positive patient & healthcare profess
Slide 19: Trading update & outlook
GALDERMA EsT.1981 3. Trading update & outlook
Slide 20: Strong start to the year
Strong start to the year Galderma net sales, in M USD 1,129 1,071 Constant currency growth +8.3% Reported growth +5.4% Q1 2024 Q1 2025 Growth predominantly driven by strong volume, complemented by positive mix 20
Slide 21: Injectable Aesthetics
Constant Net sales, in M USD currency growth Reported growth Injectable Aesthetics 511 547 +9.9% +7.0% 263 311 Neuro- +21.4% +18.2% modulators Fillers & 248 236 -2.3% -4.7% Biostimulators Q1 2024 Q1 2025 21
Slide 22: Dermatological Skincare
Constant Net sales, in M USD currency growth Reported growth Dermatological Skincare 370 351 +7.8% +5.4% Q1 2024 Q1 2025 NB: Key brands, not exhaustive 22
Slide 23: Therapeutic Dermatology
Constant Net sales, in M USD currency growth Reported growth Therapeutic Dermatology 209 212 +4.9% +1.5% 173 39 Q1 2024 Q1 2025 NB: Key brands, not exhaustive 23
Slide 24: Strong momentum in International
Constant Net sales, in M USD currency growth Reported growth 1,129 1,071 Strong momentum in International International 659 697 +10.4% +5.7% markets U.S. 411 432 +5.0% +5.0% Q1 2024 Q1 2025 24
Slide 25: Current U.S. tariff exposure manageable and factored into 2025 guidance
Current U.S. tariff exposure manageable and factored into 2025 guidance Product classified as Current U.S. tariff treatment by product (as of April 10, 2025) ‘pharmaceuticals’ Dysport 1 ✓ Exempt: classified as ‘pharmaceutical’ 1 Dysport is produced in Injectable the U.K. Restylane × Non-exempt: 10%
Slide 26: Confirming 2025 guidance
Confirming 2025 guidance Group Net sales +10-12% Growth in constant currency Core EBITDA margin Approximately 23% Core EBITDA margin at constant currency 26
Slide 27: 2025 net sales growth phasing
2025 net sales growth phasing ILLUSTRATIVE ONLY – BAR SIZE NOT AT SCALE Cumulative YoY CC growth % Quarterly Net Sales value 1,500 +10-12% 10.5 1,000 7.0 500 3.5 0 Q1 Q2 Q3 Q4 Strong start to the year, with Q1 growth also benefitting from favorable 2025 phasing, and solidly on track for full-year ne
Slide 28: Q&A and final remarks
Closing Q&A and final remarks
Slide 29: Strong start to the year, ahead of expectations
Strong start to the year, ahead of expectations, benefitting from focused execution, favorable phasing in Injectable Aesthetics, and stronger than expected ramp- up of Nemluvio Record net sales of 1,129 M USD for the first quarter, growing +8.3% at constant currency, predominantly driven by volume B
Slide 30: GALDERMA
GALDERMA EST. 1981
Slide 31: Overview of FX exposure
Overview of FX exposure Significant exchange rates, compared to the USD FY 2024 average rate Jan 31 2025 spot rate March 31 2025 spot rate April 01-22 2025 average rate CHF 1.136 1.098 1.138 1.192 EUR 1.082 1.039 1.084 1.118 BRL 0.186 0.170 0.173 0.172 AUD 0.660 0.623 0.629 0.626 CAD 0.730 0.691 0.6
Slide 32: For more information, please visit our website
For more information, please visit our website: Investors | Galderma For any questions, please reach out by email at: investors@galderma.com