Galderma Group Ag (GDERF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Gauderma half-year 2025 financial results call. As customary, the press release along with Gauderma's interim condensed financial statements were published at 7 a.m. Central European Standard Time today and can be consulted on our and for their commitment. As we look ahead, I remain fully engaged on taking Gauderma to the next level from category leadership to a true powerhouse in German politics. 2025 is a year of opportunities for us, and I'd be happy to report that we've made progress across our five strategic areas. First, we made strong progress in the first of two years with significant launches across our portfolio. Our two biologics with blockbuster potential, Mluvio and Ralph Vides, have started ahead of expectations. We'll discuss this in more detail later. Second, we maintain our momentum pursuing global opportunities. In H1, we delivered double-digit growth in seven out of our 10 markets. We also achieved important market share gains in injectable aesthetics and dermatological skin care, while Nemluvio reached $131 million in net sales. We continue to strengthen our financial profile. This includes growth in core EBITDA and margin improvements when excluding the P&L impact of Nemolizumab. We also reduced net leverage to 2.1 terms. We repaid $110 million of debt, and we refinanced $1.04 billion of our terminal. Last, but maybe not least, we repurchased shares for 323 million U.S. dollars in the context of accelerated book bill offerings to be held in Treasury. Fourth, we increased our focus on long-term growth. Among the highlights, we recently announced two new clinical trials from Imolizumab, which we'll present later. We also published nine-month data of the first of its kind aesthetic study in medication-driven weight loss. These data co...