Dermapharm Holding Se · XETR:DMP
Dermapharm — FY2024 Earnings Presentation
24 slides from Dermapharm's earnings presentation, Mar 28, 2025
Slide 1: Investors' and Analysts' Conference Call FY 2024
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL FY 2024 Grünwald, 28 March 2025
Slide 2: Agenda FY 2024
AGENDA FY 2024 1. Highlights 2024 2. Financial figures 2024 3. Outlook 2025 2
Slide 3: Highlights 2024
1 Highlights 2024 3
Slide 4: Highlights 2024
Highlights 2024 Delivering on our guidance for 2024 – revenue target achieved and EBITDA target exceeded Guidance 2024 FY 2024 €1,170m-1,210m €1,180.8m Revenues vs. previous year (€1,135.4m) EBITDA1 €300m-315m €315.6m (adjusted) vs. previous year (€310.2m) Dividend €0.90 proposal 1 EBITDA FY 2023 ad
Slide 5: Financial figures 2024
2 Financial figures 2024 5
Slide 6: Dermapharm Group
Dermapharm Group Continuous revenue growth and increased profitability of sustainable ongoing business Total Revenue EBITDA1 EAT2 Continuous revenue growth of 4.0% to €1,180.8m, €m €m, adjusted €m driven by +4.0% 27.3% Strong organic growth in underlying branded YoY EBITDA 26.7% pharmaceuticals pr
Slide 7: Dermapharm Group Q4
Dermapharm Group Top line growth driven by branded pharmaceuticals with disproportionate impact on results and margin Total Revenue EBITDA1 EAT2 Revenue and adj. EBITDA increase by +8.1% and €m €m, adjusted €m 13.4% respectively, driven by +8.1% German core and international business EBITDA 25.9%
Slide 8: Earnings after tax (EAT)
Earnings after tax (EAT) Increase mainly impacted by organic growth and positive financial result EAT €m ∆ Financial result 111.7 7,6 -14.8 +14.1 +0.3 15,7 -1.3 -0.8 +17.6 +30.4 +5.6 60.5 Prior year impacted by Calculated taxes on exceptional higher EBT depreciation of mibeTec intangible assets FY 2
Slide 9: EBITDA adjustments significantly lower vs. prior year
Dermapharm Group EBITDA adjustments significantly lower vs. prior year €m FY 2024 FY 2023 Share reduction 2.3 Wellster decline in participation triggering a GW reduction partly offset by increased (share in) equity Additional cost of property 1.8 Arkopharma (Carros) Relocation to Friedrichsdorf 1.2
Slide 10: Net debt reduction
Net debt reduction by €67m since Dec 2023 proofs ability of underlying business to generate cash Net debt Ongoing net debt reduction in 2024 €m driven by 937 €50m repayment of term loan B and 984 921 919 919 €38.5m repayment of promissory note loan 869 Net debt / adjusted EBITDA1: 2.8 in lin
Slide 11: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Total assets Total equity and liabilities Non-current assets decreased due to €m €m Regular amortisation of intangible assets identified as part of the PPA and due to the sale 2,160 2,160 of a plot of land and building in Berlin 2,080 2,080 First full-year dep
Slide 12: Working capital
Working capital Net working capital increase by >7% mainly driven by higher inventory levels, cash cycle improves by 2 days €m FY 2024 FY 2023 YoY Higher inventory levels driven by Inventory 343.4 320.8 +7.0% Underlying growth in revenues1 Trade receivables 100.9 90.9 11.0% Inflationary producti
Slide 13: Strong cash flows and cash conversion
Strong cash flows and cash conversion High cash conversion of 63.8% Cash flow and cash conversion1 CF from operating activities declines by €m and in % of Group EBITDA 8.2% largely because of -€27.6m change in net working capital Cash conversion 70.7% Decline in CF from investing activities 63.8
Slide 14: Cash Flow from operating activities
Cash Flow from operating activities FY 2024 FY 2023 YOY EBT 172.0 106.0 +66.0 Depreciation / amortisation fixed 86.8 101.8 -15.0 Reversal of depreciation charges assets & reversal of impairment Impairment loss recognised in the previous year in relation to development costs for mibeTec's product
Slide 15: Outlook 2025
1 ia - ii s o> 3 Outlook 2025 T>- Clif. Gg
Slide 16: Outlook 2025 Growth strategy
Outlook 2025 Our strong products, further internationalisation and sustainable synergies are the basis for continuous EBITDA improvement Organic growth in branded pharmaceuticals with focus on strengthening key brands, new launches from in-house development and portfolio expansion in European affi
Slide 17: Backup
Backup 17
Slide 18: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth more than compensates for expiring vaccine business Revenue EBITDA1 Revenue increase of 9.8% to €585.1m, €m €m, adjusted following +9.8% strong organic growth YoY EBITDA 45.3% in DACH region and 585.1 Margin international business as well as 532.8
Slide 19: Other healthcare products
Other healthcare products Lower consumer spending drives decline in Arkopharma revenues in H1 2024 Revenue EBITDA1 Revenue declined by -4.7% to €354.4m, €m €m, adjusted driven by -4.7% high sell-in to French pharmacy market due to YoY 20.6% an above-average price increase and new EBITDA 16.3% prod
Slide 20: Parallel import business
Parallel import business Rebates to SHI companies and unfavourable changes in product mix leave their mark Revenue EBITDA Revenues increased by +4.5% to €241.3m, €m €m, adjusted driven by +4.5% YoY 241.3 good product availability in parallel import -0.3% market 230.8 EBITDA Margin -0.7% EBITDA dec
Slide 21: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Result increases due to increase in financial result Earnings before tax (EBT)1 EBT increased by +62.3% to €172.0m €m translating to an EBT margin of 14.6% EBT Margin Significantly higher EBT result mainly driven 14.6% by 9.3% 172.0 higher (unadjusted) EBITDA (+€28.
Slide 22: Financial calendar
Financial calendar 2025 Annual Report 2024 Sustainability Report 2024 Analysts‘ and Half-year Investors‘ Call Annual General Financial Report Quarterly Statement FY 2024 Meeting 2025 as at 30 June 2025 as at 30 September 2025 2025 28 March 26 June 26 August 13 November 14 March 15 May 12 August 2026
Slide 23: Disclaimer
Disclaimer This publication includes statements, estimates, opinions and projections with respect to the anticipated future performance of Dermapharm Holding SE (together with its consolidated subsidiaries, “Dermapharm”) and such statements, estimates, opinions and projections (“Forward-Looking Stat
Slide 24: For information, please contact
For information, please contact Britta Hamberger Investor Relations & Corporate Communications Dermapharm Holding SE E-Mail: ir@dermapharm.com Phone: +49 (0) 89 641 86 233 Dermapharm FY 2021 24