Almirall posts a net loss for a period of 9 months; Rear view FY21

(RTTNews) – Almirall, SA (ALM), a biopharmaceutical company, posted a net loss for the nine-month period ended in September on Monday, particularly affected by a write-down in the book value of intangible assets. However, amid higher sales, the company reiterated its forecast for the current fiscal year.

The Barcelona-based company recorded a net loss of 39.4 million euros for the period January to September, compared to a net profit of 57.1 million euros, reported for the same period last year.

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

The Spanish firm posted its Core EBITDA over nine months to 164.2 million euros, against 136.5 million euros, generated a year ago.

Despite higher sales, the biopharmaceutical company’s normalized net profit fell 17.2%, for the 36-week period ended September, to 74.2 million euros, year-on-year.

Due to positive market dynamics, the company’s core net sales increased 6.2 percent to 601.7 million euros for the nine-month period, from 566.8 million euros for the previous year.

Almirall reiterated its revised sales forecast for 2021, forecasting mid single-digit growth for basic net sales. Now he expects his Core EBITDA to be in the range of € 200m – € 195m, compared to his previous outlook range of € 200m – € 215m. .

Twelve analysts, on average, surveyed by Thomson-Reuters estimate the firm to have a turnover of 825.51 million euros for the current fiscal year. Analysts’ estimates generally exclude one-time items.

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Ann J. Cox