Report
Luis de Toledo Heras

Almirall SA : Q3 EBITDA below yet broadly aligned with consensus. NP notably on impairments. FY 2022 guidance reiterated

>Q3 operating performance was below our numbers on core sales momentum softening and some gross margin pressure - Net sales (including deferred income) reached € 196m (+2% y-o-y in Q3 2022 and vs +7% in Q2 2022 and -1% in Q1 2022), 5% below our estimates and 2% below the consensus. As regards of its most recent product launches, Skilarance and Seysara showed some sequential improvement (0% vs -5% in Q2 and 0% vs -2% in Q2 respectively) while Ilumetri experienced some ...
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
Luis de Toledo Heras

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