Galderma Group Ag · SIX:GALD
Galderma — Q1 2026 Earnings Presentation
23 slides from Galderma's earnings presentation, Apr 23, 2026
Slide 1: Q1 2026 trading update
Q1 2026 trading update APRIL 23, 2026
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: Performance highlights, trading update & outlook, Q&A
Flemming Ørnskov, M.D., MPH 1. Performance highlights Chief Executive Officer 2. Trading update & outlook Thomas Dittrich 3. Q&A and final remarks Chief Financial Officer 3
Slide 4: Performance highlights
GALDERMA 1. Performance highlights
Slide 5: 2026: Expanding opportunities to drive growth
2026: Expanding opportunities to drive growth 1 Ramping-up significant launches & geographic expansion 2025-26 includes Nemluvio, Relfydess, Sculptra (China & new indications), Restylane (new product & indications) & Dermatological Skincare ongoing innovation 5 Dynamic approach 2 Global opportunity
Slide 6: Key financial highlights
Key financial highlights Strong start to the year, with continued Q1 2026 1,473 execution of a unique, growth-driven ACTUALS Net sales in M USD integrated dermatology strategy Net Sales +25.5% Widespread growth, aligned with strong performance across product categories and GROWTH constant currency1
Slide 7: Strong start to the year
Strong start to the year Q1 2026 net sales constant currency year-on-year growth DERMATOLOGICAL THERAPEUTIC INJECTABLE AESTHETICS SKINCARE DERMATOLOGY +13.1% +17.0% +71.3% +25.5% Volume as the primary FILLERS & growth driver NEUROMODULATORS BIOSTIMULATORS +12.5% +14.0% +16.0% International +41.5% U.
Slide 8: Injectable Aesthetics continued momentum in the broadest portfolio
Injectable Aesthetics continued momentum in the broadest portfolio supported by market-leading education & services Progressing portfolio execution & Strengthening Restylane portfolio, Amplifying Sculptra scientific Relfydess regulatory reviews with recent launches & new campaign positioning & marke
Slide 9: Dermatological Skincare continued strong growth momentum
Dermatological Skincare continued strong growth momentum driven by execution, innovation & portfolio synergies Launch of new AM/PM Antioxidant Serums Launch in the U.S. of Debut of Alastin Signature across first top markets Regenerating Skin Nectar Practices in partnership with with TriHex+ technolo
Slide 10: Therapeutic Dermatology growth driven by Nemluvio
Therapeutic Dermatology growth driven by Nemluvio – highlights from the continued strong trajectory in the U.S. Paid NBRx1 weekly market share trend (new patient starts) ~39% ~8% in prurigo nodularis in atopic dermatitis Majority share of patients new to advanced therapies (“biologic naïve”) Science
Slide 11: Trading update & outlook
GALDERMA EST.1981 2. Trading update & outlook
Slide 12: Continued strong growth momentum
Continued strong growth momentum Galderma net sales, in M USD 1,473 1,129 Constant currency growth +25.5% Reported growth +30.5% Q1 2025 Q1 2026 Growth predominantly driven by strong volume, complemented by positive price and mix effects 12
Slide 13: Injectable Aesthetics
Constant Net sales, in M USD currency growth Reported growth Injectable Aesthetics 648 +13.1% +18.4% 547 Neuro- 364 +12.5% +17.1% modulators 311 Fillers & 284 236 +14.0% +20.1% Biostimulators Q1 2025 Q1 2026 13
Slide 14: Dermatological Skincare
Constant Net sales, in M USD currency growth Reported growth Dermatological Skincare 441 370 +17.0% +19.3% Q1 2025 Q1 2026 NB: Key brands, not exhaustive 14
Slide 15: Therapeutic Dermatology
Constant Net sales, in M USD currency growth Reported growth Therapeutic Dermatology 385 +71.3% +81.4% 199 212 173 185 39 Q1 2025 Q1 2026 NB: Key brands, not exhaustive Note: Due to rounding, numbers presented may not add up precisely to the totals provided 15
Slide 16: Confirming full-year guidance on a strong start to the year
Confirming full-year guidance on a strong start to the year and a manageable U.S. tariff exposure Group Net sales +17-20% Growth in Constant Currency Core EBITDA margin Approximately 26% Core EBITDA margin at Constant Currency NB: Assumes a 15% U.S. tariff on the import value of all products (remind
Slide 17: Q&A and final remarks
Closing Q&A and final remarks
Slide 18: 2026 another year of opportunities to continue to drive growth
2026 another year of opportunities to continue to drive growth, across our core portfolio and through differentiated innovation & geographic expansion Strong start to the year, with Q1 2026 net sales of 1.473 B USD, with continued execution of Galderma’s proven, growth-driven integrated dermatology
Slide 19: Galderma
GALDERMA EST. 1981
Slide 20: Appendix
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Slide 21: Q1 2026 net sales by product category and geography
Q1 2026 net sales by product category and geography Net sales Year-on-year growth In M USD Q1 2025 Q1 2026 Constant currency Reported Group total 1,129 1,473 25.5% 30.5% By product category Injectable Aesthetics 547 648 13.1% 18.4% Neuromodulators 311 364 12.5% 17.1% Fillers & Biostimulators 236 284
Slide 22: Overview of foreign exchange exposure
Overview of foreign exchange exposure Exchange rates for top FX exposures, compared to the USD FY 2025 February 2026 March 2026 average rate closing rate (recall) closing rate AUD 0.645 0.713 0.685 BRL 0.179 0.195 0.190 CHF 1.206 1.294 1.252 CNY 0.139 0.146 0.145 EUR 1.130 1.181 1.147 MXN 0.052 0.05
Slide 23: 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