GaldermaDeliversRecord2025ResultsWithNetSalesof5.207BillionUSD,up17.7%atConstantCurrency1,andCoreEBITDA2of1.211billionUSD,Growing18.9%atConstantCurrency
===2026/3/5 16:11:22===
onerous items, 2 M USD M&A, 19 M USD for operating FX; offset by income of 12M from pension accounting and 2M impairment reversal.
Value Creation Bonus (VCB): Non-cash item, settled and discontinued at IPO: pre-IPO long-term incentive (LTI) plan open to selected management employees. Post IPO: VCB has been replaced by LTI plan, which was included in Galderma’s 2025 and mid-term Core EBITDA margin guidance.
Core Net Income is defined as net income adjusted for the same items that are treated as exceptional for purposes of defining Core EBITDA, as well as amortization of intangible assets and foreign exchange gains and losses on financing activities. Taxes on the adjustments between IFRS net income and Core Net Income take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact.
Indebtedness includ
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