Spanish pharmaceutical firm Almirall (ALMMC) reported on Monday core earnings of 51.8 million euros ($57.19 million) in the first quarter, surpassing analysts' estimates polled by Refinitiv. The company attributes this growth to a strong performance in European dermatology sales.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 13.1% from the same period one year ago, however it outperformed expectations as analysts had anticipated core earnings for the period at 45 million euros.
"European dermatology sales grew 11.4% in Europe, up to 95.7 million euros," said Jorge Gallardo Piqué, CEO of Almirall SA., "This represents more than 80% of the total sales in the sector."
The solid performance is expected to benefit shareholders directly with a dividend payout totaling up to an impressive sum of 34.5 million euros due to increased investment in innovation and development within the company.
"We are pleased with these results and will continue investing heavily into research and development projects that contribute towards our goal of becoming a leading player within dermatological care worldwide," added Gallardo Piqué.
These developments give rise not only optimism for continued growth but also strengthen Almirall's position as a key player within pharmaceutical industry across Europe.