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Almirall crashes on the stock market after losing 42.8 million until June



Pharmaceutical Almirall has reported a net loss of 42.8 million in the first half, compared to a profit of 42.4 million euros achieved a year earlier, due to the deterioration of 100 million euros in the book value of the intangible asset of Seysara (69 million), the legacy portfolio of the United States (22 million) and the payment for the option to purchase Bioniz, finally not executed (12 million), as reported to the company in a statement. The company is the worst value on the Ibex and has fallen by 8%.

Nevertheless, normalized net profit stood at 57.8 million euros, 2.8% lower to that achieved during the first half of 2020.

In addition, net sales 'core' reached 415.5 million euros, with a year-on-year increase of 8% and with a positive contribution from the growth engines, while the 'core' Ebitda experienced a year-on-year increase of 40.4% to 125.6 million euros thanks to the boost from the growth engines growth.

The company has stressed that it improves its Expectation of the 'core' Ebitda for 2021 and places it between 195 and 215 million euros, compared to the previous range of between 190 and 210 million euros.

“We see strong performance so far this year that demonstrates the good progress of our dermatology business in Europe. The solidity of the results obtained confirms that we are progressing as expected, with an innovative pipeline focused on deploying all the potential in the medium term through important catalysts during this year and in 2022. This has allowed us to improve our guidance of the Core EBITDA for 2021 ", said Gianfranco Nazzi, CEO of Almirall.

"I have full confidence in the direction and strategic focus of the company, and in its performance. We are preparing important launches in the second half of the year and we continue to seek complementary license agreements that reinforce our core business and generate sustainable value for shareholders." has added.

Almirall's accounts are positive for Renta 4 analysts, who grant the listed company the "path of recovery". Of course, they reiterate their advice to 'maintain' and a target price of 13.76 euros per share.

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