Dermapharm Holding SE : Short-term upside, but not enough
>Surprising guidance increase - Following the EBITDA growth guidance increase from November (from 45-50% y-o-y to 50-60% y-o-y), management surprisingly lifted this guidance again last week. It now expects 70-75% y-o-y EBITDA growth for FY 2021. This is quite a meaningful increase in our view, in particular when considering that Dermapharm is leaving its revenue growth guidance at 15-20% y-o-y. The key reasons are strong demand for its nutritionals product portfolio,...Dermapharm Holding SE. Dermapharm Holding SE is a Germany-based company engaged in manufacturing of patent-free branded pharmaceuticals. The Company operates through two segments: Branded pharmaceuticals and other healthcare products, which includes in-house development, in-house production, and distribution of branded pharmaceuticals and other healthcare products, and Parallel import business, which operates under the axicorp brand. It holds around 950 marketing authorizations for more than 250 active pharmaceutical ingredients, which are marketed as pharmaceuticals, dietary supplements or supplemental balanced diets. The Company offers its products through a number of brands, including Dekristol, Ampho Moronal, Keltican, Tromcardin, among others. It is active primarily in Germany, Switzerland and Austria. Additionally, it operates production facility in Germany. Trommsdorff & GmbH Co KG is a subsidiary of the Company.
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.
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