Almirall: 2019 results hit guidance

(CercleFinance.com) - Spanish drug firm Almirall said on Monday that it was "pleased" with its performance in 2019, having delivered its upgraded guidance, both in terms of EBITDA and revenues.


The pharmaceutical company said EBITDA was 304.2 million euros at end-2019, up 43% from the previous year, reaching the upgraded guidance it provided after the first half.

The drugmaker - which is now fully specialised in dermatology - then said it expected its operating profit (EBITDA) to grow to 300-310 million euros in 2019.

Total revenues reached 908.4 million euros last year, up 11% from the 811 million euros posted for 2018.

For 2020 Almirall said it expect net sales to grow low-to-mid single-digit and EBITDA to reach 260-280 million euros.

However, this failed to convince investors, with the shares down 6% in early-morning trading in bearish European markets.

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