Enrique de Leyva, new vice president of the company after the resignation of Tom McKillop

Almirall obtained a net profit of 7.4 million euros in the first quarter of the year, a figure 3.9% lower than that of the same period in 2023, as reported by the company this Monday.

The pharmaceutical company increased its net sales by 6.6% in the first three months of the year, to 247.4 million euros, thanks to the dermatology business in Europe, whose sales grew by 18.1%, to 113 million euros. euros.

Almirall’s gross operating result (Ebitda) increased by 1.4% between January and March compared to the same period last year, reaching 52.5 million euros, while the net operating result (Ebit) decreased by 8.9%, to 18.5 million euros.

The company has confirmed its forecasts for the year as a whole, with a growth in net sales “in the high single digits” and an Ebitda of between 175 and 190 million euros.

“We have started the year with solid business results and, therefore, we confirm our financial estimates for 2024. We continue to obtain very good results in the European dermatology business (…) We continue to advance in our promising ‘pipeline’, both in phases both initial and advanced, through licensing agreements and constant investments in our R&D,” highlighted Carlos Gallardo, president and CEO of Almirall.


The pharmaceutical company has also reported that the shareholders meeting held last Friday has approved the appointment of Enrique de Leyva as vice president of the company following the resignation of Tom McKillop, who also leaves his position as external director.

The board has also approved the appointments of Ugo Di Francesco and Eva Abans as independent directors and the setting of the number of members of the board of directors at 10.


Likewise, the Almirall shareholder meeting has agreed to distribute a dividend charged to freely available reserves in the amount of 0.19 euros per share, with a global value of 39.7 million euros.

For the distribution of this dividend, the flexible dividend system will be used, which will allow choosing to pay the dividend in shares or in cash, at the shareholder’s discretion.

To articulate the flexible dividend, Almirall will proceed to carry out a capital increase. In fact, the board of directors has set the market value of the capital increase at 39,784,807.56 euros. Each shareholder will receive one free allocation right for each share of the pharmaceutical company.

Shareholders will have the right to receive one new share for every 47 old shares they own. The number of new shares to be issued within the framework of this capital increase will be 4,455,185. However, the number of shares actually issued may be lower, as it will depend on the number of shareholders who request to receive their cash remuneration.

The maximum nominal amount of the capital increase reaches 534,622.2 euros, although the final amount will depend on the number of shares that are finally issued. Shareholders who wish to receive their remuneration in cash may sell their free allocation rights to Almirall at a guaranteed fixed price of 0.184 euros gross.

The new shares issued in the capital increase will be ordinary shares of 0.12 euros of nominal value each, of the same class and series as those currently in circulation.

According to the calendar made public by the company, May 16 will be the last day of trading for Almirall shares with the right to participate in the flexible dividend system. Shareholders who have acquired their shares up to that date (inclusive) will have the right to participate in the flexible dividend.

The following day, May 17, the negotiation period for the free allocation rights and the deadline to request cash remuneration will begin, date from which Almirall shares are trading ‘ex-coupon’.

The deadline to request cash remuneration under the commitment to purchase rights assumed by Almirall will end on May 27 and the negotiation period for free allocation rights will end on June 3.

On June 5, Almirall will proceed to pay cash to the shareholders who chose to sell the free allocation rights to Almirall under the purchase commitment and as of June 6, the procedures for the registration of the capital increase and the admission to trading of the new shares on the Spanish stock exchanges.

The estimated start date for the ordinary trading of the new shares derived from the capital increase on the Spanish Stock Exchanges will be June 12.