Almirall, S.A. (ALM) Earnings Call Transcripts

Almirall, S.A.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Almirall, S.A. reported net sales of EUR 291 million, reflecting a year-on-year increase of 2.2%, consistent with management's expectations. The company reiterated its full-year guidance, projecting continued growth driven by its Biologics portfolio, particularly Ilumetri and Ebglyss, which showed strong momentum. EBITDA reached EUR 67.5 million, representing 23.2% of net sales, up from 21% in the previous year, indicating improved operational efficiency.

Reported metrics

Guidance from management

Almirall reiterated its 2026 guidance, expecting continued growth driven by its Biologics portfolio and a focus on operational efficiency. Management remains confident in achieving double-digit net growth through 2030 and a circa 25% EBITDA margin by 2028.

What management said

Thank you, Damien, for the questions. I will take the latter, yes. The pediatric indication is included in our picture estimates. And I will refer to Karl on our very exciting IoT program.

Yes. Thanks a lot, Damien, for the question. As you know, the IL-2muFc targets regulatory T cell. And with that try to restore immune hemostasis and we believe this mechanism has potential across different skin diseases, including alopecia areata as well as atopic dermatitis. Now in terms of future strategy, we, of course, need to wait for the data and the readouts and how they look like. But I see a lot of different...

What analysts pressed on

Analysts expressed concerns regarding competitive pressures in the dermatology market, particularly from new entrants that could impact Almirall's market share. There were also questions about the sustainability of Ebglyss's growth and the effectiveness of the U.S. market strategy amidst price reductions.

Main topics on the call

• Biologics Portfolio Growth — Almirall's Biologics portfolio is a key growth driver, with Ilumetri achieving EUR 62 million in sales, a 12% year-on-year increase. Carlos Gallardo stated, "We remain on track to deliver over EUR 300 million in net sale...
• Ebglyss Performance — Ebglyss showed significant momentum, with sales doubling to EUR 42 million from EUR 19 million a year earlier. Gallardo noted that this growth is driven by strong physician adoption and successful launches in key Europea...
• Stable Financial Performance — The company reported a gross margin of 64.2%, an improvement from prior quarters, despite minor pressures from higher royalty tiers. Jon U. Alonso highlighted that SG&A expenses declined by 1% year-on-year, indicating ef...
• Pipeline Developments — Almirall has three proof-of-concept studies ongoing in Phase II, with additional studies planned for the year. Karl Ziegelbauer emphasized the potential of these assets, stating they address well-defined biological pathw...

Read the full Almirall, S.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 35 Almirall, S.A. earnings call transcripts on record, spanning January 15, 2020 to July 24, 2026. Based on this history, Almirall, S.A. reports quarterly. The most recent call on file is dated July 24, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ALM

Exchange

BME

Country

ES

Sector

Health Care

Industry

Pharmaceuticals

Calls on record

35

First call

January 15, 2020

Most recent

July 24, 2026

Reporting cadence

quarterly