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1. Company Snapshot

1.a. Company Description

Dermapharm Holding SE, together with its subsidiaries, engages in the off-patent branded pharmaceuticals business in Germany and internationally.It operates through three segments: Branded Pharmaceuticals and Other Healthcare Products, Parallel Import Business, and Herbal Extracts.The company develops, manufactures, licenses, markets, and sells branded generics, over-the-counter drugs, non-prescription natural remedies, and other healthcare products.


It also offers healthcare products in the areas of vitamins, minerals, food supplements, dermatology, allergology, pain and inflammation treatment, cardiovascular support, gynecology, and urology primarily under the Dekristol, Dekristolvit, Allergovit, and Tromcardin brands.In addition, the company provides medical devices under the bite away and Herpotherm names; Momekort, a nasal spray used to treat allergy symptoms; and Azedil, a nasal spray or eye drop.Further, it imports originator pharmaceuticals under the axicorp brand; and offers herbal extracts and natural active ingredients for phytopharmaceuticals, nutraceuticals, and cosmetics.


It serves pharmaceutical wholesalers, pharmacies, hospitals, and health food stores.The company was founded in 1991 and is headquartered in Grünwald, Germany.Dermapharm Holding SE is a subsidiary of Themis Beteiligungs-Aktiengesellschaft.

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1.b. Last Insights on DMP

Dermapharm Holding SE's recent performance was driven by its ability to improve profitability despite lower sales. The company's quarterly net income increased, showcasing its focus on operational efficiency. The release of its half-year results and analysts' forecasts also contributed to a positive sentiment. Furthermore, the company's efforts to enhance profitability, as seen in its Q2 2025 earnings, where net income rose despite sales of €275.48 million, slightly lower than the prior year.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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The Dermapharm Holding SE (ETR:DMP) Half-Year Results Are Out And Analysts Have Published New Forecasts

Nov -16

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Will Improving Profitability Despite Lower Sales Change Dermapharm Holding’s (XTRA:DMP) Investment Narrative?

Sep -08

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Dermapharm Holding SE: Annual General Meeting Resolves Dividend Distribution of EUR 0.90 Per Share

Jun -26

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Dermapharm Holding First Quarter 2025 Earnings: EPS: €0.62 (vs €0.81 in 1Q 2024)

May -16

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Dermapharm Holding Full Year 2024 Earnings: Revenues Beat Expectations, EPS In Line

Apr -04

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Dermapharm Holding Third Quarter 2024 Earnings: EPS: €0.60 (vs €0.46 in 3Q 2023)

Nov -17

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Dermapharm Holding (ETR:DMP) stock falls 4.9% in past week as three-year earnings and shareholder returns continue downward trend

Oct -11

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Revenue Beat: Dermapharm Holding SE Exceeded Revenue Forecasts By 6.7% And Analysts Are Updating Their Estimates

Aug -31

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.74%)

6. Segments

Branded Medicine

Expected Growth: 6%

Dermapharm Holding SE's branded medicine segment growth is driven by increasing demand for dermatology and skincare products, expansion into new markets, strategic acquisitions, and a strong product pipeline. Additionally, growing awareness of skin health and rising disposable incomes in emerging markets contribute to the 6% growth rate.

Other Health Products

Expected Growth: 4%

Dermapharm Holding SE's Other Health Products segment growth is driven by increasing demand for self-care and preventive healthcare, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on R&D and innovative product offerings, such as dietary supplements and medical devices, contribute to its growth.

Parallel Import

Expected Growth: 3%

Dermapharm Holding SE's parallel import segment growth is driven by increasing demand for affordable healthcare products, strategic partnerships, and expansion into new markets. Additionally, the company's focus on digitalization and e-commerce platforms has enhanced customer reach and convenience, contributing to the 3% growth rate.

7. Detailed Products

Branded Pharmaceuticals

Dermapharm Holding SE develops and markets branded pharmaceuticals for the treatment of various diseases, including dermatological, cardiovascular, and neurological disorders.

Herbal Remedies

The company offers a range of herbal remedies for the treatment of various health conditions, including digestive issues, sleep disorders, and stress relief.

Dietary Supplements

Dermapharm Holding SE provides a variety of dietary supplements for maintaining overall health and wellness, including vitamins, minerals, and other nutritional products.

Cosmetics

The company develops and markets a range of cosmetics and skincare products, including creams, lotions, and serums for various skin types and conditions.

Prescription-Free Medicines

Dermapharm Holding SE offers a range of prescription-free medicines for the treatment of common ailments, including pain relief, cold and flu, and allergy relief.

8. Dermapharm Holding SE's Porter Forces

Forces Ranking

Threat Of Substitutes

Dermapharm Holding SE operates in the pharmaceutical industry, where substitutes are available, but the company's strong brand presence and product offerings mitigate the threat.

Bargaining Power Of Customers

Dermapharm Holding SE's customers are primarily pharmacies and wholesalers, who have limited bargaining power due to the company's strong market position and diversified product portfolio.

Bargaining Power Of Suppliers

Dermapharm Holding SE relies on a diverse supplier base, which reduces the bargaining power of individual suppliers. However, the company is still exposed to supplier concentration risks.

Threat Of New Entrants

The pharmaceutical industry has high barriers to entry, including regulatory hurdles and significant R&D investments, which limits the threat of new entrants for Dermapharm Holding SE.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players competing for market share. Dermapharm Holding SE faces intense rivalry from other companies, which may impact its market position and pricing power.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 66.43%
Debt Cost 8.50%
Equity Weight 33.57%
Equity Cost 9.20%
WACC 8.74%
Leverage 197.91%

11. Quality Control: Dermapharm Holding SE passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Dermapharm Holding

A-Score: 5.8/10

Value: 5.4

Growth: 6.1

Quality: 5.8

Yield: 5.6

Momentum: 5.0

Volatility: 7.0

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Almirall

A-Score: 5.0/10

Value: 4.3

Growth: 2.2

Quality: 4.3

Yield: 2.5

Momentum: 9.0

Volatility: 7.7

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Sobi

A-Score: 4.8/10

Value: 3.1

Growth: 7.3

Quality: 7.4

Yield: 0.0

Momentum: 5.0

Volatility: 5.7

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Perrigo

A-Score: 4.6/10

Value: 7.5

Growth: 2.3

Quality: 2.3

Yield: 8.1

Momentum: 3.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Siegfried Holding

A-Score: 4.4/10

Value: 4.4

Growth: 7.4

Quality: 5.5

Yield: 0.6

Momentum: 1.0

Volatility: 7.3

1-Year Total Return ->

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Alvotech

A-Score: 2.9/10

Value: 5.1

Growth: 5.8

Quality: 5.7

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

38.1$

Current Price

38.1$

Potential

-0.00%

Expected Cash-Flows