Financial PerformanceAdjusted EBITDA grew to €66.7m, translating into a margin of 24.5%, primarily driven by Branded Pharmaceuticals where international and allergology areas continue to drive bottom-line growth.
International ExpansionDermapharm's core business in Branded Pharma continues to grow at an org. mid- to high-single digit trajectory with some improvements to the already high margin profile as the company expands its internationalisation efforts across key therapeutic areas.
Operational EfficiencyOperating cash flow rose significantly due to lower working capital demand.