Investing.com -- Shares of Recordati (BIT:RECI) Industria (BIT:REC (NSE:RECM)) edged up 1% following the release of its fiscal year financial results, which aligned with consensus estimates and reached the higher end of the company’s own forecasts.
The pharmaceutical firm reported a 12% increase in revenue to €2,342 million for the fiscal year, a figure that reflects a 9% rise on a constant exchange rate (CER) basis and is consistent with analyst expectations.
The company’s EBITDA for the year stood at €866 million, translating to a 37.0% margin, which was also in line with consensus and RBC estimates.
Recordati’s adjusted net income reached €569 million, fitting within the previously guided range of €560 million to €580 million. Despite net debt ending the year at €2,154 million, slightly above the consensus estimate of €2,041 million, the company remains on track to reduce leverage to below 2.0x EBITDA by 2025.
Looking ahead, Recordati has set ambitious targets, providing specific guidance for 2025 that includes net revenue between €2,600 million and €2,670 million, EBITDA between €970 million and €1,000 million, and adjusted net income between €640 million and €670 million.
These projections are slightly above current consensus, with mid-point expectations surpassing revenue and EBITDA estimates by 1% and adjusted net income by 2%.
The Rare Diseases division of Recordati has shown a robust performance, growing 16% YoY at CER for the fiscal year. Consequently, the company has raised its peak sales targets for key Rare Disease products, including Isturisa, Signifor, and Qarziba/Sylvant, while maintaining its sales forecast for Enjaymo.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.