Dermapharm Holding Se · XETR:DMP
Dermapharm — Q3 2025 Earnings Presentation
23 slides from Dermapharm's earnings presentation, Nov 13, 2025
Slide 1: Investors' and Analysts' Conference Call Q3 2025
INVESTORS’ AND ANALYSTS’ CONFERENCE CALL Q3 2025 Grünwald, 13 November 2025
Slide 2: Agenda Q3 2025
AGENDA Q3 2025 1. Financial figures 2. Outlook 2025 3. Q&A 2
Slide 3: Financial figures
1 Financial figures 3
Slide 4: Highlights 9M 2025
Highlights 9M 2025 Stable business development with EBITDA growth in Q3 despite extraordinary effects Strong organic growth in high-margin branded pharmaceuticals driven by international business and therapeutic area allergology almost compensating for revenue decline in vaccine business,
Slide 5: Dermapharm Group Q3 results
Dermapharm Group High margin branded pharmaceuticals business driving an adj. EBITDA margin improvement of 1.9%-points in Q3 stand-alone Total Revenue EBITDA1 EAT2 Revenue decline of -5.4% to €294.9m €m €m, adjusted €m strong revenue growth of +4.6% in branded products -5.4% EBITDA 29.9% driven by
Slide 6: Dermapharm Group YTD Sep 2025
Dermapharm Group Accelerating revenue growth in branded products not fully offsets lower revenues from the parallel import business in YTD Sep 2025 Total Revenue EBITDA1 EAT2 Revenue of €869.4m is -2.3% or -€20.7m behind PY, €m €m, adjusted €m contribution margin-oriented portfolio optimisation of -
Slide 7: Earnings after tax (EAT)
Earnings after tax (EAT) Increase in EAT attributable to lower income taxes and depreciation charges EAT ∆ Reported EBITDA ∆ Financial result €m 92.7 95.2 +2.9 -6.0 +2.1 -1.8 +2.6 -6.7 +13.3 -3.9 Q1 2024 comprised Lower interest Lower revenue relating to H2 income compared corporate 2023 to 9M 2024
Slide 8: EBITDA adjustments attributable to optimisation measures
Dermapharm Group EBITDA adjustments attributable to optimisation measures €m 9M 2025 9M 2024 Restructuring 4.9 Arkopharma, axicorp, mibe Vertrieb, Euromed Reduction in shareholding 2.2 Wellster Additional cost of property 1.8 Arkopharma (Carros) Relocation to Friedrichsdorf 1.2 Candoro ethics Dereco
Slide 9: Net debt
Net debt Reduction by €113m since Sep 2023 underscores the strong cash generation capabilities Net debt Net debt increases in Q3 2025, €m mainly driven by lower cash & cash 937 equivilalents; significant reduction compared 984 921 919 919 to Sep 2024 891 869 857 871 Net debt / adjusted EBITDA1:
Slide 10: Balance Sheet of Dermapharm Group
Balance Sheet of Dermapharm Group Increased current assets as of Sep in line with underling seasonality Total assets Total equity and liabilities Increase in current assets, esp. trade €m €m receivables and liquid funds, in line with revenue seasonality 2,080 2,117 2,080 2,117 Non-current assets
Slide 11: Working capital
Working capital Net working capital and cash cycle largely unchanged €m 9M 2025 9M 2024 YoY Inventory 339.7 346.9 -2.1% Trade receivables 129.8 123.0 5.5% Trade payables 93.8 92.2 1.7% Net working capital 375.6 377.7 -0.6% Days DIO1 107 107 0.0% DSO 41 38 7.9% DPO 70 62 12.9% Cash cycle 78 83 -6.0%
Slide 12: Cash flows and cash conversion
Cash flows and cash conversion decreasing cash conversion driven by higher cash flow from investing activities Cash flow and cash conversion1 Increasing CF from operating activities due to €m and in % of Group EBITDA lower build up especially in inventory in the respective year-to-date period, p
Slide 13: Cash flow from operating activities
Cash flow from operating activities mainly impacted by lower build up of working capital compared to prior year 9M 2025 9M 2024 YOY EBT 137.4 137.5 -0.1 Depreciation / amortisation fixed 60.9 62.3 -1.4 Largely unchanged to prior year, capex characterised by assets replacement and financial capex i
Slide 14: Outlook 2025
2 Outlook 2025 Image: Günther Fotodesign
Slide 15: Outlook 2025
Outlook 2025 Current trading in line with budget, Management confirms the guidance for full year 2025 The first nine months of fiscal year 2025 developed according to plan and are supported by a positive outlook for the fourth quarter Management confirms the guidance for the Growth $ full year 2
Slide 16: Q&A
3 Q&A Image: Günther Fotodesign 16
Slide 17: Backup
Backup Image: Günther Fotodesign
Slide 18: Branded pharmaceuticals
Branded pharmaceuticals Strong organic growth in core portfolio and international business Revenue EBITDA1 Revenue increase of 4.2% to €449.8m €m €m, adjusted +4.2% Strong organic growth of 5.8% without YoY vaccine business in both, 45.7% existing core portfolio, esp. allergology 431.6 449.8 EBI
Slide 19: Other healthcare products
Other healthcare products Restructuring of Arkopharma and depreciation of the USD drive the decline in the segment’s EBITDA in 9M 2025 Revenue EBITDA1 Revenue decreases slightly by -1.0% to €m €m, adjusted €269.0m -1.0% Euromed’s B2B business and YoY 16.9% the German food supplements business EB
Slide 20: Parallel import business
Parallel import business Monthly EBITDA trend and operational KPIs confirm the effectiveness of the portfolio optimisation Revenue EBITDA1 Revenues decreases by -19.4% to €m €m, adjusted €150.6m, driven by -19.4% contribution margin driven portfolio 0.6% optimisation - initiated end of Q1 2025 YoY
Slide 21: Earnings before tax (Group EBT)
Earnings before tax (Group EBT) Result nearly stable, but increase in profitability Earnings before tax (EBT)1 EBT at prior year level (-€0.1m to €137.4m) €m translating to an EBT margin of 15.8% (+0.4 ppt) EBT 15.8% Margin 15.4% -0.1% 137.5 YoY 137.4 9M 2024 9M 2025 1 Calculation of EBT based on un
Slide 22: 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 23: 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 23