Almirall Posts Net Loss For 9-month Period; Backs FY21 View

Almirall Posts Net Loss For 9-month Period; Backs FY21 View

November 15, 2021

Almirall, S.A. (ALM), a biopharmaceutical company, on Monday posted a net loss for the nine month period ended in September, particularly hurt by an impairment for the carrying value of the intangible assets. However, amidst higher sales, the company has reiterated its guidance for the current fiscal.

The Barcelona-headquartered firm posted a net loss of 39.4 million euros for the January to September period, compared with a net income of 57.1 million euros, reported for the same period last year.

The company had recorded an impairment of 103 million euros for the carrying the value of the intangible assets of Seysara at 69 million euros, another 22 million euros of US Legacy Portfolio, and the Bioniz option payment of 12 million euros, which was not exercised as announced earlier.

The Spanish firm posted its Core EBITDA for the nine-month period at 164.2 million euros, as against 136.5 million euros, generated a year ago.

Despite a rise in sales, the biopharmaceutical firm’s normalized net income fell by 17.2 percent, for the 36-week period ended in September, to 74.2 million euros, year-over-year basis.

Owing to a positive momentum in the market, core net sales of the company grew by 6.2 percent to 601.7 million euros for the nine-month period, from 566.8 million euros of the last fiscal.

Almirall has reiterated its upgraded sales guidance for 2021, projecting mid-single-digit growth for core net sales. Now it expects its Core EBITDA to be in the range of 200 million euros – 195 million euros, versus its previous outlook range of 200 million euros- 215 million euros.

Twelve analysts, on average, polled by Thomson-Reuters estimate the firm to report its revenue at 825.51 million euros for current fiscal. Analysts’ estimates typically exclude one-time items.

Source: Read Full Article