Dermapharm Holding SE remains on projected growth trajectory in Q2 2025
- Board of Management confirms full-year guidance for 2025, continues to expect consolidated revenue of EUR 1,160–1,200 million and increase in adjusted EBITDA to EUR 322–332 million
- Organic growth in branded pharmaceuticals largely offsets expected decline from realignment in parallel imports business and Arkopharma
- Consolidated revenue and consolidated (adjusted) EBITDA down slightly year-on-year to EUR 574.5 million and EUR 148.0 million with an adjusted consolidated EBITDA margin of 25.8%
- Adjusted EBITDA grows by 3.7% in Q2 2025 as against prior-year quarter
Grünwald, 12 August 2025 – Dermapharm Holding SE ("Dermapharm"), a rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today published its unaudited preliminary consolidated figures (IFRS) for the first half of 2025.
Consolidated revenue remained at the previous year’s level in the reporting period (slight decline by 0.7% to EUR 574.5 million). The decisive factor was once again the above-average performance in the "Branded pharmaceuticals" segment, which offset not only the extraordinary revenue and earnings effects from the pandemic preparedness programme in the comparative period, but also the effects of the realignments in the parallel import business and at Arkopharma. It was nevertheless not possible to fully offset the extraordinary earnings effects, and unadjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell slightly to EUR 144.9 million (25.2%; prior-year period: EUR 147.0 million or 25.4%). The adjustments relate almost exclusively to restructuring expenses, with the figure declining by EUR 2.9 million to EUR 3.1 million. Adjusted EBITDA amounted to EUR 148.0 million, representing 25.8% of net revenue (prior-year period: EUR 153.0 million, or 26.4%).
"We performed as projected in the first half of 2025. Given the current global economic turbulence, this is very good news! The structural adjustments to boost margins in the parallel imports business are being implemented consistently and our key segment, "Branded pharmaceuticals", is making greater headway internationally. We are particularly pleased that the EBITDA growth in the second quarter confirms we made the right choice in terms of strategic action. In light of this, we are looking ahead to the second half of the year with confidence and confirming our guidance for the full year," said Dr Hans-Georg Feldmeier, CEO of Dermapharm Holding SE.
Branded pharmaceuticals
The "Branded pharmaceuticals" segment recorded particularly robust organic growth, with the allergology therapeutic area and the segment's international businesses the key growth drivers.
Other healthcare products
The "Other healthcare products" segment recorded slight revenue growth driven primarily by rapid development in the B2B business at Euromed.
Reported earnings were weighed by foreign exchange losses, however, as the dollar continued to lose value. Before foreign exchange losses, there was significant growth in the segment's earnings. Arkopharma posted a solid operating performance in Q2, with revenue up compared to the same period last year. The consolidation measures are proceeding as planned and will mark a key step towards strengthening the business model in the long term.
Parallel import business
The "Parallel import business" segment continues its systematic efforts to restructure the product portfolio to focus on contribution margins. As expected, this strategic realignment towards high-margin products is causing revenue to decline, with reported EBITDA still weighed down by the associated costs.
Further growth expected in financial year 2025
Overall, developments at the Group level in the first half of 2025 were in line with the underlying assumptions.
In light of this, the Board of Management confirms the full-year guidance for 2025, with consolidated revenue of EUR 1,160–1,200 million. As before, adjusted EBITDA is expected to grow to between EUR 322 million and EUR 332 million.
Dermapharm will publish its final figures for the first half of 2025, as reviewed by the auditor, along with its complete Half-year Financial Report 2025 on 26 August 2025.
IFRS figures for H1 2025 and the prior-year period
(excluding segment reconciliation/Group holding company)
| EUR million |
H1 2025 |
H1 2024 |
Change |
| |
|
|
|
| Consolidated revenue |
574.5 |
578.5 |
-0.7% |
| Adjusted consolidated EBITDA* |
148.0 |
153.0 |
-3.3% |
| Adjusted EBITDA margin* (%) |
25.8 |
26.4 |
-0.6 pp |
| Consolidated EBITDA |
144.9 |
147.0 |
-1.4% |
| EBITDA margin (%) |
25.2 |
25.4 |
-0.2 pp |
* H1 2025 EBITDA was adjusted for non-recurring items amounting to EUR 3.1 million.
H1 2024 EBITDA was adjusted for non-recurring items amounting to EUR 6.0 million.
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 its "Branded pharmaceuticals" segment, Dermapharm holds over 1,300 marketing authorisations covering more than 390 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
Tel.: +49 (0)89 64186-233
E-mail: ir@dermapharm.com
