Almirall consolidates the change of cycle

BarcelonaPharmaceutical company Almirall increased its profits fivefold in the first three months of the year compared to the same period last year, according to a statement issued by the company to the Spanish National Securities Market Commission (CNMV). The company's profits rose from €7.2 million in the first three quarters of 2024 to €39.1 million in 2025.

Regarding revenue, Almirall reported sales of €820.7 million between January and September, a 12.8% increase year-on-year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached €180.7 million, a 27.1% increase. The company expects to close the current fiscal year with net sales growth of between 10% and 13% and EBITDA of between €220 and €240 million. "We are pleased to confirm our 2025 outlook," stated Carlos Gallardo, Chairman and CEO of the group, in the press release. The increase in sales in the dermatology division, up 24.5%, and the strong performance in European markets, where Almirall's revenue grew by 15.9%, explain the rise. The psoriasis products Wynzora and Ilumetrio led sales growth, as did Ebglyss, a prescription drug for atopic dermatitis. The downside was the US market. In the United States, the pharmaceutical company saw a 15.4% drop in sales in the first nine months of 2025, and in the rest of the world outside of Europe and the US, the decline was 9.4%, to €34.6 million. As of 12:30 pm this Monday, the company's shares were up around 4.4%. Despite these positive results, Almirall has also allocated €102 million to research and development investments. The bulk of these funds will be used to improve its treatment portfolio, particularly the start of a new phase of a monoclonal antibody study and the planned initiation of three more studies next year.

Second year with benefits

Gallardo has described the group's results so far as "solid". In fact, In 2024 the company recovered its profits after closing 2023 with losses.

The company changed its leadership in 2022, with the retirement of Jorge Gallardo from the group's presidency, which It passed into the hands of his son CarlosJorge Gallardo, a third-generation member of the family that works at the company founded by his grandfather, Antonio Gallardo Carrera, had already tried to pass the reins of the group to his son a decade earlier, but the latter declined. In fact, Antonio and Jorge Gallardo are among the 15 richest people in Catalonia.

The year of the change in the presidency coincided with the departure, just one year after his appointment, of Gianfranco Nazzi As CEO, a position that Carlos Gallardo also eventually retained, thus becoming the group's top executive as president and CEO. In 2022, the company closed the fiscal year with profits of 4 million euros, in 2023 it lost 38 million, and returned to profitability with 10 million euros last year.