THE WHAT? Galderma has reported US$3.8 billion in net sales in FY22, up 13.9 percent on 2021 on a constant currency basis, delivering above its 2022 profitability guidance.
THE DETAILS Core earnings (EBITDA) were up 14.5 percent to US$791million.
Looking forward, Galderma expects to deliver between a 6 percent to 9 percent net sales growth on a constant currency basis.
Injectable Aesthetics and Dermatological Skincare saw year-on-year net sales growth of 22.3 percent and 30.7 percent respectively, on a constant currency basis, primarily driven by volume growth.
Geographically, the International region grew 20.2 percent year- on-year on a constant currency basis, with a particularly strong performance in fast growing markets such as in China, India, Brazil, Mexico, and the Philippines, with r’obust growth across all product categories.’
U.S. grew 6.8 percent year-on-year on a constant currency basis.
THE WHY? The sustained growth momentum was fuelled by the strong performance in Injectable Aesthetics and Dermatological Skincare, highlighting the continued consumer demand for science-based, premium products in dermatology.
Speaking to Reuters, CEO Flemming Ornskov stated the results come ahead of a possible initial public offering.
“Galderma is run like a public company and we are prepared for the next step,” he said.