GRÜNWALD (dpa-AFX) - Drug manufacturer Dermapharm has started the new year with significantly higher sales and profits. "The main growth impulses in the opening quarter resulted from the acquisition of the Arkopharma Group, strong organic growth in our existing portfolio and a resumption of growth in the parallel import segment," company CEO Hans-Georg Feldmeier said in a statement on Monday.

The figures were well received on the stock market. The share price rose by around 8.5 percent to 47.66 euros in midday trading, reaching its highest level since the end of August. Since the turn of the year, the share price has gained more than a quarter. Shareholders who have held shares for five years can look forward to an increase of a good three quarters.

Sales climbed 37.8 percent to 319 million euros in the first three months and operating profit adjusted for special items (adjusted Ebitda) rose 40.9 percent to 105.8 million euros, according to the company in Grünwald. The corresponding margin improved by 0.8 percentage points to 33.2 percent. The bottom line was a profit attributable to shareholders of just under 49 million euros, compared with 36.8 million euros a year earlier.

In an initial reaction, Jefferies expert Alexander Thiel praised the strong results. Expectations were clearly topped, with all areas contributing, the expert said.

Dermapharm confirmed its targets for the full year. The company had experienced a special boom during the pandemic due to the contract production of Corona vaccines for the manufacturer Biontech. This tailwind is - as everywhere in the industry - also weakening at Dermapharm. Nevertheless, sales are expected to rise to between 1.08 and 1.11 billion euros this year. The Group is also relying on its latest acquisition, the French pharmaceuticals and nutritional supplements manufacturer Arkopharma. Adjusted operating profit, on the other hand, is expected to fall to between 300 and 310 million euros./mne/niw/jha/