Croma-Pharma GmbH (Croma) today announced its 2022 financial results. 2022 was shaped by strong year-on-year revenue growth of 27% (total reported revenue rose from €95.8 million in 2021 to €121.2 million in 2022) which is believed to be the beginning of a period of rapid revenue growth fuelled by the future launch of new products, international expansion and strong overall market growth. The 2022 results were also driven by the launch of the new product Letybo®, a botulinum toxin, in 11 core European markets as well as by strong performance of the company’s direct and indirect international business. The company’s EBITDA[1] amounted to €18.4 million in 2022, a significant increase compared to the previous financial year. While 2021 had still been marked by the impact of the Covid pandemic, in 2022, Croma’s strict cost control measures and the increasing benefits of economies of scale started to take effect and allowed a positive free cash flow.
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