Dermapharm Holding Se · XETR:DMP
Dermapharm — Q1 2025 Earnings Presentation
22 slides from Dermapharm's earnings presentation, May 15, 2025
Slide 1: Investors' and Analysts' Conference Call Q1 2025
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL Q1 2025 Grünwald, 15 May 2025
Slide 2: Agenda Q1 2025
AGENDA Q1 2025 1. Financial figures 2. Outlook 2025 3. Backup 2
Slide 3: Financial figures
1 Financial figures 3
Slide 4: Highlights Q1 2025
Highlights Q1 2025 Dermapharm starts 2025 financial year as planned Strong organic growth in high-margin branded pharmaceuticals driven by international business allergology products and parallel import business more than compensating for revenue decline in vaccine business and Arkopharm
Slide 5: Dermapharm Group
Dermapharm Group Continuous revenue growth at expected lower profitability level following exceptional income in Q1 2024 Total Revenue EBITDA1 EAT2 Revenue growth of 1.2% to €302.4m, driven by €m €m, adjusted €m organic growth in existing branded portfolio and parallel 29.7% import business +1.2%
Slide 6: Earnings after tax (EAT)
Earnings after tax (EAT) Lower EAT result driven by exceptional results included in Q1 2024 and the valuation of the interest hedges EAT €m 43.1 ∆ Financial result -5.7 +1.6 -5.7 33.2 -1.5 -2.7 +4.3 -0.2 Higher Q1 2024 result referring to H2 2023 Driven by BP with organic topline growth of 6.2% ex L
Slide 7: Dermapharm Group: EBITDA adjustments
Dermapharm Group EBITDA adjustments again declining compared to prior year €m Q1 2025 Q1 2024 Reduction in shareholding 2.2 Wellster Restructuring 1.1 axicorp Relocation to Friedrichsdorf 0.6 Candoro Neumarkt / THC Pharm Others 0.1 0.1 Total 1.2 3.0 Dermapharm 3M 2025 7
Slide 8: Net debt
Net debt reduction by €93m since Sep 2023 shows the ability of the business to generate cash Net debt Net debt increase in Q1 2025 €m mainly driven by 984 937 higher corporate tax of €25m for prior 921 919 919 years paid in Q1 2025 (FY2024: €12m) 891 and 869 higher net working capital 30 Sep 2
Slide 9: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Total assets and liabilities largely unchanged Total assets Total equity and liabilities Other current assets increased, €m €m driven by higher working capital 2,080 2,112 2,080 2,112 Higher working capital financed economically through an increased equity 327
Slide 10: Working capital
Working capital Net working capital increase by >7% mainly driven by a combination of higher inventory and lower trade payable levels €m Q1 2025 Q1 2024 YoY Higher inventory levels driven by Inventory 350.7 337.5 +3.9% underlying growth in revenues Trade receivables 129.4 124.8 +3.7% inflationar
Slide 11: Cash flows and cash conversion
Cash flows and cash conversion mainly impacted by lower earnings, driven by exceptional items in Q1 2024, and valuation impacts as well as increased tax payments for historical fiscal years Cash flow and cash conversion1 CF from operating activities declines €m and in % of Group EBITDA largely bec
Slide 12: Cash Flow from operating activities
Cash Flow from operating activities mainly impacted by lower Cash EBITDA and increased tax payments Q1 2025 Q1 2024 YOY EBT 49.7 63.9 -14.2 Depreciation / amortisation fixed 20.0 19.7 +0.3 Largely unchanged to prior year, no major growth capex after Q1 2024 assets Interest expense / income 9.6 7.4
Slide 13: Outlook 2025
1 ia - ii s o> 3 Outlook 2025 T>- Clif. a.
Slide 14: Outlook 2025
Outlook 2025 Current trading in line with budget, portfolio effects expected to balance positive and negative budget deviations Based on the current trading, which is in line with budget, general portfolio effects of the business and our regular reforecasting processes, Management has currently no
Slide 15: Backup
==> 3. Backup ‘fay
Slide 16: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth in core portfolio and international business Revenue EBITDA1 Revenue increase of 1.9% to €145.7m, €m €m, adjusted driven by +1.9% YoY strong organic growth of 6.2% without 49.8% vaccine business in both, 143.0 145.7 EBITDA Margin 45.3% existing portf
Slide 17: Other healthcare products
Other healthcare products Restructuring of Arkopharma’s business model drives decline in Q1 2025 Revenue EBITDA1 Revenue declined slightly by -2.9% to €96.2m, €m €m, adjusted primarily attributable to -2.9% ongoing restructuring of Arkopharma’s YoY 18.7% 99.1 96.2 business model, mainly in the Spa
Slide 18: Parallel import business
Parallel import business Portfolio streamlining and restructuring costs drive decline in EBITDA Revenue EBITDA1 Revenues increases by +7.1% to €60.6m €m €m, adjusted +7.1% The portfolio streamlining has been YoY initiated in Q1 2025 and is ongoing, initial 0.4% 56.6 60.6 impacts expected to be see
Slide 19: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Result decreases due to exceptionally high result in Q1 2024, interest hedges related valuation impacts and lower interest income Earnings before tax (EBT)1 EBT decreases by -22.2% to €49.7m €m translating to an EBT margin of 16.4% 21.4% Lower EBT result mainly driven
Slide 20: 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 of June 2025 for Q3 2025 2025 28 March 26 June 26 August 13 November 14 March 15 May 12 August 2026 Quarterly Stat
Slide 21: 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 22: 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 22