Galderma Group Ag · SIX:GALD
Galderma — Q3 2026 Earnings Presentation
27 slides from Galderma's earnings presentation, Oct 22, 2026
Slide 1: Q3 2026 trading update
Q3 2026 trading update OCTOBER 22, 2026
Slide 2: Forward-looking statements
Forward-looking statements Certain statements in this Presentation are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", " believes", "expects", "anticipates", "intends", "estimates",
Slide 3: Performance highlights, trading update & outlook, Q&A
Flemming Ørnskov, M.D., MPH 1. Performance highlights Chief Executive Officer 2. Trading update & outlook Luigi La Corte 3. Q&A and final remarks Chief Financial Officer 3
Slide 4: Performance highlights
GALDERMA 1. Performance highlights
Slide 5: Proven, growth-focused integrated dermatology strategy
Proven, growth-focused integrated dermatology strategy Broadest portfolio with Global scale with omni-channel Market-leading leading science & innovation execution excellence education & services Innovation launched across a portfolio of Global commercial presence with notable Broad education, train
Slide 6: ZO Skin Health: A highly complementary & financially attractive deal
ZO Skin Health: A highly complementary & financially attractive deal ✓ Leading science-based, physician-endorsed skincare brand ✓ Complementary product portfolio, with its daily regimen and targeted Prevent & Correct products, extending beyond Alastin’s peri-procedure focus ✓ Broad and complementary
Slide 7: Key financial highlights
Key financial highlights Record net sales, via execution of a proven, Q3 YTD 2026 4,765 growth-driven integrated dermatology strategy, ACTUALS focused on the core portfolio, complemented by Net sales in M USD innovation & further geographic penetration Broad-based, double-digit growth across the Net
Slide 8: Injectable Aesthetics: Strong trajectory building on strengths
Injectable Aesthetics: Strong trajectory building on strengths and opportunities across the portfolio Expansion Execution and education Positive phase III data to support plans to expand in China Expanding leading Neuromodulators and further strengthen clinical evidence base positions, with the majo
Slide 9: Dermatological Skincare: Continued outperformance across flagship brands
Dermatological Skincare: Continued outperformance driven by focused execution across flagship brands Emphasis on International markets & three fundamentals Emphasis on peri-procedure 1. Strong brand core equity #1 Preferred physician-dispensed Designed for sensitive skin Recommended by dermatologist
Slide 10: Therapeutic Dermatology: Nemluvio approaching leadership in prurigo nodularis
Therapeutic Dermatology: Nemluvio approaching leadership in U.S. prurigo nodularis and ramping-up in atopic dermatitis Underlying demand healthy and continues to growth, Recognized for rapid itch relief with a growing with distribution in both specialty pharmacies & distributors focus on skin cleara
Slide 11: Trading update & outlook
GALDERMA EST.1981 2. Trading update & outlook
Slide 12: Strong growth momentum driven by volume
Strong growth momentum driven by volume Constant Net sales, in M USD currency growth Reported growth 4,765 +25.1% +27.5% 3,737 2,636 +18.0% +22.2% International 2,157 U.S. 2,130 +34.7% +34.7% 1,580 Q3 YTD Q3 YTD 2025 2026 Note: Due to rounding, numbers presented may not add up precisely to the total
Slide 13: Injectable Aesthetics
Constant Net sales, in M USD currency growth Reported growth Injectable Aesthetics 2,174 +13.2% +16.2% 1,871 Neuro- 1,259 1,053 +16.9% +19.6% modulators Fillers & 914 818 +8.5% +11.7% Biostimulators Q3 YTD Q3 YTD 2025 2026 Note: Due to rounding, numbers presented may not add up precisely to the tota
Slide 14: Dermatological Skincare
Constant Net sales, in M USD currency growth Reported growth Dermatological Skincare 1,244 1,063 +16.2% +17.1% Q3 YTD 2025 Q3 YTD 2026 NB: Key brands, not exhaustive 14
Slide 15: Therapeutic Dermatology
Constant Net sales, in M USD currency growth Reported growth Therapeutic Dermatology 1,347 +64.4% +67.7% 612 804 541 735 263 Q3 YTD 2025 Q3 YTD 2026 NB: Key brands, not exhaustive Note: Due to rounding, numbers presented may not add up precisely to the totals provided 15
Slide 16: Raising 2026 net sales guidance
Raising 2026 net sales guidance Recall: Full-year guidance Updated full-year guidance1 Group net sales +19-21% +22.5-23.5% Growth in constant currency Growth in constant currency Core EBITDA margin Approximately 26% Approximately 26% Margin at constant currency Margin at constant currency 1. Guidanc
Slide 17: ZO Skin Health: An additional long-term growth driver
ZO Skin Health: An additional long-term growth driver for Galderma while maintaining financial discipline • 1.5 B USD enterprise value • Expected to close in the fourth quarter of 2026 or early 2027, subject to Acquisition regulatory approvals and other customary closing conditions details • All-cas
Slide 18: Capital allocation priorities remain unchanged
Capital allocation priorities remain unchanged Organic growth – investing in commercial footprint, R&D Injectable Aesthetics and CAPEX Dermatological Skincare Business development and licensing across the three product categories to support growth & broaden the portfolio Therapeutic Dermatology Stro
Slide 19: Q&A and final remarks
Closing Q&A and final remarks
Slide 20: Record net sales of 4.765 B USD for the first nine months
Record net sales of 4.765 B USD for the first nine months, growing 25.1% at constant currency, with strong performance particularly in Therapeutic Dermatology, across both Nemluvio & the mature portfolio, as well as in Dermatological Skincare, and Neuromodulators Broad-based, double-digit growth acr
Slide 21: Galderma
GALDERMA EST. 1981
Slide 22: Appendix
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Slide 23: Strong start to the year
Strong start to the year Q3 YTD 2026 net sales constant currency year-on-year growth DERMATOLOGICAL THERAPEUTIC INJECTABLE AESTHETICS SKINCARE DERMATOLOGY +13.2% +16.2% +64.4% +25.1% Volume as the primary FILLERS & growth driver NEUROMODULATORS BIOSTIMULATORS +16.9% +8.5% +18.0% International +34.7%
Slide 24: Q3 YTD 2026 net sales by product category and geography
Q3 YTD 2026 net sales by product category and geography Net sales Year-on-year growth In M USD Q3 YTD 2025 Q3 YTD 2026 Constant currency Reported Group total 3,737 4,765 25.1% 27.5% By product category Injectable Aesthetics 1,871 2,174 13.2% 16.2% Neuromodulators 1,053 1,259 16.9% 19.6% Fillers & Bi
Slide 25: Q3 2026 net sales by product category and geography
Q3 2026 net sales by product category and geography Net sales Year-on-year growth In M USD Q3 2025 Q3 2026 Constant currency Reported Group total 1,289 1,632 26.0% 26.6% By product category Injectable Aesthetics 631 736 15.4% 16.7% Neuromodulators 346 433 24.1% 25.1% Fillers & Biostimulators 285 303
Slide 26: Overview of foreign exchange exposure
Overview of foreign exchange exposure Exchange rates for top FX impacts, compared to the USD FY 2025 June 2026 September 2026 average rate closing rate (recall) closing rate AUD 0.6448 0.6870 0.6972 BRL 0.1790 0.1927 0.1922 CHF 1.2058 1.2352 1.1988 CNY 0.1391 0.1472 0.1492 EUR 1.1297 1.1392 1.1336 I
Slide 27: For more information, please visit our website
For more information, please visit our website: Investors | Galderma For any questions, please reach out by email at: [email protected]