Almirall underwhelms again but reiterates 2022 guidance
Spanish dermatology specialist Almirall (BME: ALM) was trading 4.8% lower mid-afternoon on Monday after the presentation of its latest financial results.
Although core net sales were up by 5% at 436.6 million euros ($447.4 million) for the first half of 2022, Almirall missed analyst expectations with its earnings before interest, taxes, depreciation and amortization (EBITDA) figures.
Total EBITDA was 107.6 million euros, a 21% drop compared to the first half of 2021. This was blamed on product divestments in the previous year and the finalization of deferred income from AstraZeneca (LSE: AZN).
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