Dermapharm Holding Se · XETR:DMP
Dermapharm — FY2025 Earnings Presentation
24 slides from Dermapharm's earnings presentation, Mar 31, 2026
Slide 1: Investors' and Analysts' Conference Call FY 2025
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL FY 2025 Grünwald, 31 March 2026 Image: Günther Fotodesign 1
Slide 2: 1 Highlights 2025
1 Highlights 2025 Image: Günther Fotodesign Dermapharm FY 2025 2
Slide 3: Highlights 2025
Highlights 2025 Delivering on our guidance for 2025 – revenue and EBITDA targets achieved Guidance 2025 FY 2025 €1,160m-1,200m €1,165.0m Revenue vs. previous year (€1,180.8m) EBITDA1 €322m-332m €324.8m (adjusted) vs. previous year (€315.6m) Dividend €0.88 proposal 1 EBITDA FY 2024 adjusted for non-r
Slide 4: 2 Financial figures 2025
2 Financial figures 2025 Dermapharm FY 2025 4
Slide 5: Dermapharm Group Q4 results
Dermapharm Group High margin branded pharmaceuticals business driving a notable EBITDA improvement in Q4 stand-alone Total Revenue EBITDA1 EAT2 Revenue increase of +1.7% to €295.5m €m €m, adjusted €m driven by strong revenue growth of +1.7% +8.0% in branded products driven by international YoY EBI
Slide 6: Dermapharm Group full-year results
Dermapharm Group Revenue growth in branded products does not fully offset lower revenue from the parallel import business Total Revenue EBITDA1 EAT2 Revenue of €1,165.0m is -1.3% or -€15.8m behind PY €m €m, adjusted €m Strong organic growth in branded pharmaceuticals of -1.3% EBITDA1 Margin 6.6% (
Slide 7: Earnings after tax (EAT)
Earnings after tax (EAT) Increase in EAT driven by operational result (+€8.7m), reduced tax expenses (-€8.1m) and an improved financial result (+€5.0m; ex at-equity result) EAT ∆ Reported EBITDA ∆ Financial result, ex at-equ. €m Comprises €3.4m of exceptional cost related to the restructuring of the
Slide 8: EBITDA adjustments attributable to optimisation measures
Dermapharm Group EBITDA adjustments attributable to optimisation measures €m FY 2025 FY 2024 Restructuring 6.2 Thereof €3.4m Arkopharma and €1.2m axicorp; remaining amounts related to sales force adaption, Euromed and Allergopharma Acquisition / share increase 0.4 M&A related acquisition costs regar
Slide 9: Net debt
Net debt Reduction by €82m since Dec 2023 underscores the strong cash generation capabilities Net debt Net debt slightly decrease in FY 2025 €m following a favourable net CF trend (+€85m 937 921 reported) despite €62m spend for M&A 919 919 891 Net debt / adjusted EBITDA1: 2.7x well 869 871 857 8
Slide 10: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Increased current assets mainly reflect the cash generativeness of the business Total assets Total equity and liabilities Increase in current assets driven by higher €m €m cash and the downpayment receivable from the Mucos Group transaction 2,187 2,187 Non-curre
Slide 11: Working capital
Working capital Absolute NWC unchanged, cash cycle improves by 10 days following the decline in cost of materials due to the margin driven delisting of certain PI products €m FY 2025 FY 2024 YoY Inventory 328.7 343.4 -4.3% Trade receivables 109.7 100.9 8.7% Trade payables 96.3 94.8 1.6% Net working
Slide 12: Cash flows and cash conversion
Cash flows and cash conversion Cash conversion increased from an overproportionate increase of the operating cash flow Cash flow and cash conversion1 Increasing CF from operating activities mainly €m and in % of Group EBITDA driven by cash inflows from a slightly declining working capital compared
Slide 13: Cash flow from operating activities
Cash flow from operating activities mainly impacted by cash inflows from a slightly declining working capital compared to prior year FY 2025 FY 2024 YoY EBT 183.5 172.0 +11.5 Depreciation / amortisation fixed 92.0 86.8 +5.2 assets Net interest expense 37.5 41.9 -4.4 2025: 25 bps reduction in margi
Slide 14: 3 Outlook 2026
3 Outlook 2026 Dermapharm FY 2025 14
Slide 15: Outlook 2026: Growth strategy
Outlook 2026 Organic growth, integration effects and efficiency gains strengthen profitability Further growth in “Branded pharmaceuticals” driven by organic growth in major brands, new products, which will be gradually rolled out to European sites, as well as the integration of recently acquired c
Slide 16: 4 Q&A
4 Q&A Dermapharm PPT Master 2026 16
Slide 17: Backup
Backup Dermapharm FY 2025 17
Slide 18: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth and M&A more than compensate for expiring vaccine business Revenue EBITDA1 Revenue increase of 5.2% to €617.2m, due to €m €m, adjusted strong organic growth (+6.7%), +5.2% particularly within YoY EBITDA 45.6% domestic market (DACH) and 586.5 617.2 Ma
Slide 19: Other healthcare products
Other healthcare products Strategic transformation at Arkopharma and external effects temporarily weigh on results Revenue EBITDA1 Revenue amounts nearly unchanged (-0.2%) €m €m, adjusted to €352.2m, Slight decline is primarily attributable to the 15.9% -0.2% ongoing restructuring of Arkopharma’s
Slide 20: Parallel import business
Parallel import business Rebates to SHI companies and unfavourable changes in product mix leave their mark Revenue EBITDA Revenues decreased by -18.9% to €m €m, adjusted €195.6m, driven by -18.9% contribution margin driven portfolio YoY -0.7% optimisation - initiated end of Q1 2025 241.3 195.6 EBI
Slide 21: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Result increases due to lower interest expenses Earnings before tax (EBT)1 EBT increased by +6.7% to €183.5m €m translating to an EBT margin of 15.8% EBT Margin Increase in EBT result mainly driven by 15.8% 14.6% higher (unadjusted) EBITDA (+€8.7m) increase of +€7
Slide 22: Financial calendar
Financial calendar 2026 Annual Report 2025 Non-financial Report 2025 Analysts‘ and Investors‘ Call FY 2025 Half-year Annual General Financial Report Quarterly Statement Meeting 2026 as at 30 June 2026 as at 30 September 2026 2026 31 March 26 June 25 August 12 November 10 March 13 May 11 August 2027
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 64186-233