Dermapharm Holding SE: First half of 2023 is a success despite the challenging market environment

EQS-News: Dermapharm Holding SE

/ Key word(s): Half Year Results/Preliminary Results

Dermapharm Holding SE: First half of 2023 is a success despite the challenging market environment

16.08.2023 / 07:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

Dermapharm Holding SE: First half of 2023 is a success despite the challenging market environment



  • Consolidated revenue and EBITDA (adjusted) continue to grow as planned to EUR 582 million and EUR 168 million, respectively, compared to the corresponding period of the previous year
  • Growth driven by Arkopharma Group and strong organic growth of branded pharmaceuticals and other healthcare products
  • Adjusted Group EBITDA margin at a pleasing 28.9%
  • Board of Management confirms outlook for the full year 2023



Grünwald, 16 August 2023 – Dermapharm Holding SE (“Dermapharm”), an innovative and rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today publishes its unaudited preliminary consolidated figures (IFRS) for the first half of 2023. In the first six months of financial year 2023, the Company lifts its revenue by 24% to EUR 582 million (prior-year period: EUR 471 million). Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rises by 13% to EUR 168 million (prior-year period: EUR 149 million) at the same time. The adjusted EBITDA margin amounts to 28.9% (previous year: 31.6%). Unadjusted EBITDA amounts to EUR 137 million (prior-year period: EUR 143 million) which results in an unadjusted EBITDA margin of 23.5% (prior-year period: 30.3%).

Dermapharm successfully maintains its growth trend as planned in the first six months of financial year 2023. “Despite a challenging market environment, our business has performed very successfully from an operational standpoint in the first half of 2023. We have set ourselves ambitious targets for the financial year 2023 and are pleased to report that we are on successful track with our strategy of sustainable and profitable growth.  Our broadly diversified product portfolio, comprehensive value chain and high efficiency in purchasing, production and distribution enabled us to continue to grow profitably even after the phase-out of vaccine production. Drivers of sales and absolute earnings growth are our French subsidiary Arkopharma and gratifyingly strong organic growth in our existing business,” said Dr Hans-Georg Feldmeier, Chairman of the Board of Management of Dermapharm Holding SE.

As expected, vaccine production in cooperation with BioNTech SE in the “Branded pharmaceuticals”[1] segment declined in the second quarter after sales and earnings contributions in Q1 2023. “Fortunately, this decline could be compensated to a large extent by organic growth, especially of products in the pain and inflammation, allergology and dermatology therapeutic areas,” explains Dr Andreas Eberhorn, Board Member for Marketing and Sales. The Austrian company Montavit, which was acquired at the end of June 2023 as part of a capital increase, will be consolidated from July 2023 and make a positive contribution to the Group’s revenue and EBITDA.

The “Other healthcare products” segment benefits significantly from the inclusion of the Arkopharma Group, reaching a new level in terms of both revenues and earnings. “We are very pleased with the positive revenues and earnings contributions of Arkopharma and once again confirm the M&A strategy we have been pursuing so successfully for years,” says Christof Dreibholz, Chief Financial Officer of Dermapharm Holding SE. This pleasing development is further complemented by the positive effects of a currently growing worldwide demand primarily for herbal extracts and food supplements.

Revenues in the “Parallel import business” segment grew slightly compared with the corresponding prior-year period, although the increase in revenues is not yet reflected in a growing earnings contribution from the segment.

The positive performance in the first half of 2023 laid a good foundation for the further course of the business. The Board of Management currently expects to achieve both revenues and adjusted EBITDA at the upper end of the published guidance range of EUR 1,080 million to EUR 1,110 million and EUR 300 to 310 million in 2023.

Dermapharm will publish its final figures for the first half of 2023 along with its complete 2023 half-yearly financial report on 29 August 2023.


 H1 2023 financials vs. prior year

(excluding segment reconciliation/Group holding company)

EUR million H1 2023 H1 2022 Change
Consolidated revenue 582 471 24%
Adjusted consolidated EBITDA* 168 149 13%
Adjusted EBITDA margin* (%) 28.9 31.6 -2.7 pp
Consolidated EBITDA 137 143 -4%
EBITDA margin (%) 23.5 30.4 -6.9 pp

* H1 2023 EBITDA was adjusted for non-recurring expenses amounting to EUR 31 million.
  H1 2022 EBITDA was adjusted for non-recurring expenses amounting to EUR 6 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 the “Branded pharmaceuticals” segment, Dermapharm has more than 1,200 marketing authorisations with more than 380 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 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, and Arkopharma, the market leader for herbal medicines and food supplements in France.

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 one of the top five parallel import companies 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.



Investor Relations & Corporate Communications
Britta Hamberger
Tel.: +49 (0)89 – 64186-233


[1] In the second quarter of 2023, the Board of Management adjusted the segment definitions in the course of the acquisition of the Arkopharma Group to focus even more consistently on the respective customer and sales structures. This adjustment and the resulting effects are explained in detail in the half-year report.

16.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
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