Galderma Group AG unveiled its fiscal year 2025 financial results presentation, highlighting record net sales of 5.207 billion USD, a 17.7% increase at constant currency from the previous year.4748 Core EBITDA reached 1.211 billion USD, up 18.9% at constant currency, with the margin expanding to 23.3%.46
Full-Year 2025 Key Metrics
Net sales growth stemmed primarily from volume, with favorable product mix offsetting pricing pressures. Core EPS surged 76.7% to 3.69 USD, bolstered by robust EBITDA growth, lower financing costs, and 363 million USD in share repurchases. Net leverage improved to 1.5x by year-end.48
Q4 2025 Strong Performance
In the fourth quarter, net sales climbed 25.2% at constant currency to 1.469 billion USD. Growth accelerated across all categories, driven by U.S. expansion (up 39.9%) and international markets (up 15.3%).47
Breakdown by Product Category
- Injectable Aesthetics: 2.572 billion USD (+11.5% cc), with Neuromodulators at 1.471 billion USD (+14.3%) and Fillers & Biostimulators at 1.101 billion USD (+8.0%).
- Dermatological Skincare: 1.449 billion USD (+9.3% cc).
- Therapeutic Dermatology: 1.185 billion USD (+50.2% cc), led by Nemluvio contributing 452 million USD.
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Regional Growth
U.S. sales rose 23.3% to 2.231 billion USD, while international revenue increased 13.8% to 2.976 billion USD.47
2026 Outlook and Strategy
Company guidance projects 17-20% net sales growth at constant currency and a Core EBITDA margin of about 26%. Mid-term targets through 2027 include 15-17% group sales CAGR and 450-550 basis points of margin expansion versus 2023. Nemluvio peak sales forecast raised above 4 billion USD globally.48
Flemming Ørnskov, Chief Executive Officer, stated, “2025 was an outstanding year for Galderma… We delivered record financial results with broad-based net sales growth across all product categories and geographies.”46
