Report
Isabel Carballo

Almirall SA : Good Q4 2021 results with 2022 guidance in line with consensus expectations. New chairman

>Q4 2021 results above expectations - Net sales (including deferred income) reached € 210m (+8% y-o-y in Q4 2021 and vs +2% in Q3 2021), 8% above our estimates, with Ilumetri and Seysara showing quarterly improvements and with Skilarence sales undershooting expectations (-24%). The gross margin stood at 69% in Q4 2021 (-1pp y-o-y), above our 67% expectations and also above the gross margin reported in Q3 2021. Reported EBITDA improved +12% y-o-y in Q4 2021 to € 54m de...
Underlying
Almirall SA

Almirall is engaged in the acquisition, manufacture, storage, sale and mediation in the sale of pharmaceutical specialties and products and all manner of raw materials used to prepare pharmaceutical specialties and products. Also, Co. acquires, manufactures, storages, sales and mediates in the sale of cosmetics, chemical, biotechnological and diagnostic products for human, veterinary, agrochemical and food-industry use, as well as all manner of utensils, complements and accessories for the chemical, pharmaceutical and clinical industries. In addition, Co. is engaged in the acquisition, sale, lease, subdivision and development of land lots, land and properties of all kinds.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Isabel Carballo

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