Strong organic growth in core markets underscores resilience of Dermapharm
Holding SE's corporate strategy

EQS-News: Dermapharm Holding SE / Key word(s): Quarterly / Interim
Statement/Quarter Results
Strong organic growth in core markets underscores resilience of Dermapharm
Holding SE's corporate strategy

15.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Strong organic growth in core marketsunderscores resilience
of Dermapharm Holding SE's corporate strategy

  * Robust, double-digit organic growth in high-margin 'branded
    pharmaceuticals' largely offsets projected decline in vaccine
    production.

  * Revenue in 'Other healthcare products' segment down year on year due to
    temporary consumer reticence, particularly in France.

  * Consolidated revenue falls as projected by 6.4% year on year to EUR
    298.7 million; above-average profitability in the vaccine business in
    the prior-year quarter leads to decline in adjusted EBITDA in Q1 2024 by
    16.2% to EUR 88.7 million.

  * Board of Management confirms outlook for 2024 overall, continues to
    expect consolidated revenue of EUR 1,170-1,210 million and adjusted
    EBITDA of EUR 305-315 million.

Grünwald, 15 May 2024 - Dermapharm Holding SE ('Dermapharm'), a rapidly
growing manufacturer of branded pharmaceuticals and other healthcare
products, today publishes its results for the first three months of 2024.

The existing portfolio in the 'Branded pharmaceuticals' segment again
recorded strong organic growth in Q1 2024 as against the prior-year quarter,
meaning that the decline in vaccine revenue was largely, albeit not
entirely, compensated for. In addition, the consumer reticence observed in
recent months, particularly in France, caused revenue at Arkopharma to
decline temporarily. Consolidated revenue declined slightly as a result,
falling by 6.4% year on year to EUR 298.7 million (Q1 2023: EUR 319.1
million).

The tapering off of the vaccine business also impacted EBITDA. Adjusted
EBITDA declined by 16.2% to EUR 88.7 million (Q1 2023: EUR 105.8 million).
This translates to a margin of 29.7% (Q1 2023: 33.2%). After adjusting for
the vaccine business, however, EBITDA and the EBITDA margin rose sharply -
demonstrating the robustness and profitability of the Dermapharm Group's
underlying sustainable business.

'We are very satisfied with the Q1 performance, particularly in the 'Branded
pharmaceuticals' segment. Efforts to integrate Montavit and Arkopharma are
going according to plan and represent the crucial foundation for further
international expansion. We have shown that we are able to grow under our
own steam, even without vaccines. We are also proud to have re-attained our
pre-pandemic level of product availability. Our 'Made in Europe' business
model remains a vital competitive advantage and our customers have
recognised this', states Dr Hans-Georg Feldmeier, Chairman of the Board of
Management of Dermapharm Holding SE.

In the 'Branded pharmaceuticals' segment, strong organic growth in the core
therapeutic areas and Montavit, which was consolidated in mid-2023, can
almost completely compensate for the projected decline in revenue from
vaccine production. Revenue fell by only EUR 7.0 million, or 4.7%, to EUR
143.0 million (prior-year period: EUR 150.0 million); adjusted EBITDA
amounted to EUR 71.2 million or 49.8% of revenue (prior-year period: EUR
79.9 million or 53.3%). The strong performance of the existing business was
reflected in the EBITDA trend, as adjusted for the vaccine business and
Montavit: absent these factors, both absolute EBITDA and the adjusted EBITDA
margin increased - with the latter rising by more than 10 percentage points
to more than 40%.

The 'Other healthcare products' segment generated EUR 99.1 million in
revenue in the first three months of 2024 (prior-year period: EUR 105.7
million). The slight decline in revenue was due in particular to the
economic downturn observed in recent months and the associated decrease in
consumption in France, which is Arkopharma's largest sales market.
Accordingly, adjusted EBITDA also decreased to EUR 18.5 million (prior-year
period: EUR 25.8 million). The adjusted EBITDA margin amounted to 18.7%
(prior-year period: 24.4%). Arkopharma's revenue can be expected to recover
over the course of financial year 2024.

Revenue in the 'Parallel import business' segment fell by 10.7% to EUR 56.6
million (prior-year period: EUR 63.4 million). This decrease was due
primarily to below-average product availability at the end of 2023/beginning
of 2024, which has since improved. EBITDA amounted to EUR 0.2 million
(prior-year period: EUR 1.5 million), due to a change in the product mix in
reaction to poorer product availability. The segment's EBITDA margin
decreased accordingly in the first three months of 2024 to 0.4% (prior-year
period: 2.4%).

The Group's performance in Q1 2024 was in line with our underlying
projections. In light of this, the Board of Management confirms the guidance
from the 2023 Annual Report and continues to expect consolidated revenue to
grow to between EUR 1,170-1,210 million in financial year 2024 and adjusted
consolidated EBITDA of between EUR 305-315 million.

The full interim statement for Q1 2024 is available from today at
https://ir.dermapharm.de/.

IFRS figures for 2024 and the prior-year period (1)

(excluding segment reconciliation/Group holding company)

EUR million Q1 2024 Q1 2023 Change

             Consolidated revenue    298.7    319.1    -6.4%
    Branded pharmaceuticals          143.0    150.0    -4.7%
    Other healthcare products         99.1    105.7    -6.2%
    Parallel import business          56.6     63.4   -10.7%

    Adjusted consolidated EBITDA*     88.7    105.8   -16.2%
    Branded pharmaceuticals           71.2     79.9   -10.9%
    Other healthcare products         18.5     25.8   -28.3%
    Parallel import business           0.2      1.5   -86.7%

      Adjusted EBITDA margin* (%)     29.7     33.2  -3.5 pp
    Branded pharmaceuticals           49.8     53.3  -3.5 pp
        Other healthcare products     18.7     24.4  -5.7 pp
         Parallel import business      0.4      2.4    -2 pp

              Consolidated EBITDA     85.7     98.0   -12.6%
    Branded pharmaceuticals           68.9     72.7    -5.2%
        Other healthcare products     17.8     25.2   -29.4%
         Parallel import business      0.2      1.5   -86.7%

                EBITDA margin (%)     28.7     30.7  -2.0 pp
          Branded pharmaceuticals     48.2     48.5  -0.3 pp
        Other healthcare products     18.0     23.8  -5.8 pp
         Parallel import business      0.4      2.4    -2 pp

*Q1 2024 EBITDA adjusted by EUR 3.0 million in non-recurring expenses in
connection with the reduced shareholding in Wellster Healthtech Group GmbH
and the relocation of Candoro ethics GmbH NM and THC Pharm GmbH to
Friedrichsdorf.
Q1 2023 EBITDA adjusted by EUR 7.8 million in non-recurring expenses
relating to the acquisition of the Arkopharma Group.

Company profile

Dermapharm - Pharmaceutical Excellence 'Made in Europe'

Dermapharm is an innovative and rapidly growing manufacturer of branded
pharmaceuticals and other healthcare products. Founded in 1991, the Company
is based in Grünwald near Munich. In addition to its main location in Brehna
near Leipzig, Dermapharm also operates other production, development and
distribution locations in Germany, the rest of Europe and the United States.

In the 'Branded pharmaceuticals' segment, Dermapharm has more than 1,300
marketing authorisations with more than 400 active pharmaceutical
ingredients. Dermapharm's portfolio of pharmaceuticals is tailored to
selected therapeutic areas in which the Company is a market leader,
especially in Germany. The Company's integrated business model extends from
in-house product development and production through quality management and
logistics to the distribution of branded pharmaceuticals by a trained
pharmaceutical sales force.

Dermapharm bundles food supplements, herbal pharmaceuticals, cosmetics,
medical devices, herbal extracts and medicinal cannabis in its 'Other
healthcare products' segment. In this segment, Dermapharm can tap the
expertise of Arkopharma, the market leader for herbal food supplements in
France, and the Spanish company Euromed S.A., a leading global manufacturer
of herbal extracts and plant-based active ingredients for the
pharmaceuticals, nutraceuticals, foodstuffs and cosmetics industries.

Dermapharm also operates the 'Parallel import business' segment under the
axicorp brand. axicorp imports originator pharmaceuticals from other EU
Member States and resells them to pharmaceuticals wholesalers and pharmacies
in Germany. This enables axicorp to benefit from the different pricing
structures in the individual EU member states. Based on revenue, axicorp is
currently the sixth largest parallel importer in Germany.

With a consistent R&D strategy and numerous successful product and company
acquisitions and by stepping up its internationalisation efforts, the Group
is continuously optimising its business activities and seeks external growth
opportunities in addition to organic growth.

Contact

Investor Relations & Corporate Communications
Britta Hamberger
Phone: +49 (0)89 - 64186-233
E-mail: ir@dermapharm.com

(1) The figures for the prior-year quarter have been adjusted to reflect the
change in the segment structure in Q2 2023.


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   Language:       English
   Company:        Dermapharm Holding SE
                   Lil-Dagover-Ring 7
                   82031 Grünwald
                   Germany
   Phone:          +49 (0)89 64 86-0
   E-mail:         ir@dermapharm.com
   Internet:       ir.dermapharm.de
   ISIN:           DE000A2GS5D8
   WKN:            A2GS5D
   Indices:        SDAX
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Stuttgart, Tradegate Exchange
   EQS News ID:    1902759

End of News EQS News Service
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1902759 15.05.2024 CET/CEST