Almirall confirms full-year target despite higher costs in first quarter
May 13 (Reuters) -Spanish pharmaceutical company Almirall ALM.MC on Monday reiterated its profitability targets for the full-year and said it is seeking acquisition targets, even though its costs weighed on net profit in the first quarter.
The company said its net profit fell 4% in the quarter to 7.4 million euros ($7.97 million) on higher costs, while earnings before interest, taxes, depreciation and amortisation rose 1.4% to 52.5 million euros.
Almirall said it is on track to meet its 2024 full-year target of EBITDA of between 175 and 190 million euros, up from 174 million euros in 2023 and high-single digit net sales growth. It added it seeks "new inorganic growth opportunities."
($1 = 0.9282 euros)
Reporting by Matteo Allievi, editing by Inti Landauro and Louise Heavens
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