Strong existing business in the Branded pharmaceuticals segment drives positive performance

  Consolidated revenue up 1.7% to EUR 884.4 million Strong organic growth in "Branded pharmaceuticals" segment and additional revenue contributions from Mucos and F. Trenka Adjusted EBITDA increases substantially by 5.1% to EUR 248.1 million; adjusted EBITDA margin rises to 28.0% (+0.9 percentage points) Board of Management confirms outlook for 2026, expects consolidated revenue of EUR 1,182–1,218 million and adjusted EBITDA of EUR 331–341 million   Grünwald, 12 November 2026 – Dermapharm Holding SE ("Dermapharm"), a rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today publishes its results for the first nine months of 2026. Consolidated revenue increased by 1.7% year on year to EUR 884.4 million in the first nine months of 2026 (prior-year period: EUR 869.4 million). This growth was driven primarily by the "Branded pharmaceuticals" segment, which saw revenue rise by 8.1%. This is due in particular to strong organic growth in the existing domestic and international business and the additional revenue contributions from the new acquisitions Mucos and F. Trenka. The growth was offset primarily by the planned decline in revenue in the "Parallel import business" segment. The increase in EBITDA, adjusted for non-recurring items, outpaced revenue growth, rising by 5.1% to EUR 248.1 million (prior-year period: EUR 236.0 million). The adjusted EBITDA margin improved accordingly from 27.1% in the prior-year period to 28.0%. Unadjusted EBITDA amounted to EUR 266.9 million (prior-year period: EUR 230.8 million), corresponding to a margin of 30.2% (prior-year period: 26.5%). "The performance in the first nine months of 2026 once again underscores the strength and resilience of our business model. The sustained growth of our 'Branded pharmaceuticals' segment, driven by our existing business and bolstered by the contributions from our most recent acquisitions, is particularly encouraging. We intend to build on this strong foundation to systematically advance our business in Germany and abroad and unlock further growth opportunities. Looking ahead to the rest of the year, we believe we are well positioned and therefore confirm our guidance for financial year 2026," said Dr Hans-Georg Feldmeier, CEO of Dermapharm Holding SE.   Branded pharmaceuticals
The "Branded pharmaceuticals" segment continued to deliver a positive performance in the first nine months of the year. On top of the additional revenue contributions from Mucos and F. Trenka, this was driven primarily by organic growth in the existing business. Both the core German business and the international business are making significant contributions to growth and earnings. Revenue increased by 8.1% to EUR 486.2 million in the first nine months of 2026 (prior-year figure: EUR 449.8 million). Adjusted EBITDA rose by 6.7% to EUR 213.0 million (prior-year period: EUR 199.6 million). The adjusted EBITDA margin remains high at 43.8% (prior-year period: 44.4%). Unadjusted EBITDA amounted to EUR 232.7 million (prior-year period: EUR 198.3 million), corresponding to an unadjusted EBITDA margin of 47.9% (prior-year period: 44.1%). The EUR 19.7 million in non-recurring expenses in this segment were attributable chiefly to adjusted income due to the provisional negative goodwill in connection with the Mucos acquisition. Other healthcare products
The slight decline in revenue in the "Other healthcare products" segment in the first nine months of 2026 is mainly due to seasonal, regulatory and demand-related factors. The positive performance of individual companies, coupled with favourable currency translation effects and a decrease in cost of materials, partially offset these impacts. Revenue amounted to EUR 261.9 million (prior-year figure: EUR 269.0 million). Adjusted EBITDA amounted to EUR 41.2 million (prior-year period: EUR 42.1 million). Despite the slight decline in earnings, the adjusted EBITDA margin remains stable at 15.7% (prior-year period: 15.7%). Unadjusted EBITDA increased to EUR 40.3 million (prior-year period: EUR 39.3 million), corresponding to a margin of 15.4% (prior-year period: 14.6%). The adjusted non-recurring expenses decreased to EUR 0.9 million (prior-year period: EUR 2.8 million) and are attributable primarily to restructuring measures at Arkopharma. Parallel import business
Revenue declined to EUR 136.3 million in the first nine months of 2026 (prior-year figure: EUR 150.6 million) on account of the portfolio optimisation measures introduced in the previous year. Lower personnel expenses and other operating expenses could not fully offset the slight decline in the gross profit margin. Adjusted EBITDA therefore amounted to EUR -2.0 million (prior-year figure: EUR ?1.6 million). Unadjusted EBITDA also amounted to EUR -2.0 million (prior-year period: EUR ?2.8 million), corresponding to a margin of -1.5% (prior-year period: -1.9%). While restructuring costs of EUR 1.2 million were normalised in the prior-year period, there were no non-recurring expenses to be normalised in the current reporting period. Board of Management confirms outlook for 2026 overall
Based on the Company's performance in the first nine months of financial year 2026, and in light of the expectations for the fourth quarter, the Board of Management confirms that both consolidated revenue and adjusted EBITDA will be in line with the published forecast range of between EUR 1,182–1,218 million and EUR 331–341 million, respectively. The quarterly statement for Q3 2026 can now be downloaded from https://ir.dermapharm.de/en/.   IFRS figures for 9M 2026 and the prior-year period
(excluding segment reconciliation/Group holding company)

EUR million	9M 2026	9M 2025	Change
Consolidated revenue	884.4	869.4	1.7%
Branded pharmaceuticals	486.2	449.8	8.1%
Other healthcare products	261.9	269.0	-2.6%
Parallel import business	136.3	150.6	-9.5%
Adjusted consolidated EBITDA*	248.1	236.0	5.1%
Branded pharmaceuticals	213.0	199.6	6.7%
Other healthcare products	41.2	42.1	-2.1%
Parallel import business	-2.0	-1.6	25.0%
Adjusted EBITDA margin (%)	28.0	27.1	0.9 pp
Branded pharmaceuticals	43.8	44.4	-0.6 pp
Other healthcare products	15.7	15.7	0.0 pp
Parallel import business	-1.5	-1.1	-0.4 pp
Consolidated EBITDA	266.9	230.8	15.6%
Branded pharmaceuticals	232.7	198.3	17.3%
Other healthcare products	40.3	39.3	2.5%
Parallel import business	-2.0	-2.8	-28.6%
EBITDA margin (%)	30.2	26.5	3.7 pp
Branded pharmaceuticals	47.9	44.1	3.8 pp
Other healthcare products	15.4	14.6	0.8 pp
Parallel import business	-1.4	-1.9	0.5 pp

* 9M 2026 EBITDA was adjusted for non-recurring items amounting to EUR -18.8 million.
  9M 2025 EBITDA was adjusted for non-recurring items amounting to EUR 5.2 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, including in Germany, the rest of Europe and the United States. In the "Branded pharmaceuticals" segment, Dermapharm has more than 1,400 marketing authorisations with more than 400 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 Arkopharma, the market leader for phytotherapeutic food supplements in France, and 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. 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 the seventh largest parallel importer 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.     Contact Investor Relations & Corporate Communications
Britta Hamberger
Tel.: +49 (0)89 64186-233
E-mail: ir@dermapharm.com