Latest news with #Ornskov
Reuters
24-04-2025
- Business
- Reuters
Skincare company Galderma keeps 2025 outlook, shrugs off U.S. tariff uncertainty
ZURICH, April 24 (Reuters) - Swiss skincare company Galderma (GALD.S), opens new tab on Thursday said its sales rose by 8.3% on the year to $1.13 billion during the first quarter and signalled confidence about its prospects for the rest of 2025 despite ongoing uncertainty over U.S. tariffs. Chief Executive Officer Flemming Ornskov told Reuters the company was sticking its outlook for 2025 as it rolls out new products and pursues increased market share, stressing that Galderma was "totally committed to the U.S." "The vast majority of our portfolio is not affected by these tariffs right now," Ornskov said, noting that only nine percent of the firm's total sales were impacted by import duties. "The way we want to manage this situation is to focus on commercial execution, volume, market share gain," he added. Galderma, which launched on the Swiss stock exchange in March 2024, saw its shares gaining 8.5% in early trading after the results. Bank Vontobel analyst Stefan Schneider said Galderma's results were positive. "Over-delivery of 1Q25 sales allows the company to increasingly de-risk and confirm its FY25 guidance despite some further tariff impact in some consumer product categories," he said.
Yahoo
07-03-2025
- Business
- Yahoo
Galderma to discuss U.S. tariffs with retailers, sees "moving target"
ZURICH (Reuters) - Swiss skincare company Galderma will talk to major American retailers about trade tariffs imposed by the U.S. government in order to manage their impact, CEO Flemming Ornskov said on Thursday. U.S. President Donald Trump this week slapped tariffs of 25% on Canada and Mexico, though his administration later said it would temporarily exempt automakers and consider other products. "We will be talking to Walmart, Target, Amazon, and others to figure out how we're going to react to this, also price-wise," Ornskov told Reuters after Galderma posted a 9.3% sales increase for 2024 and net income of $231 million. He described tariffs as "a bit of a moving target," noting that their scope could still be altered. Ornskov said his company had already taken "precautions on stock and other things" in the U.S. to mitigate the impact on Galderma, which has major production operations in Canada. "Another way of compensating this would be just to drive more volume with your product," he said. Galderma's net U.S. sales were flat in 2024 on the year and fell in the final quarter. Ornskov said there were specific factors behind that and was confident U.S. sales would grow in 2025. Trump has also threatened to impose tariffs on Europe. As most aesthetic companies produce in Europe, they and Galderma would be affected, Ornskov said. Galderma's results come almost a year after it listed on the Swiss stock exchange. Its share price has since doubled from its initial launch price, though the stock fell by as much as 9% on Thursday before paring losses. Sign in to access your portfolio
