Rovi earns 170 million in 2023, 15% less, and announces a dividend of 1.10 euros per share

MADRID, 27 Feb.

Rovi earns 170 million in 2023, 15% less, and announces a dividend of 1.10 euros per share


Rovi obtained a net profit of 170.3 million euros in 2023, a figure 15% lower than the profits that the company registered in 2022, which were close to 200 million euros, as reported by the pharmaceutical company to the National Commission on Tuesday. Stock Market (CNMV).

Rovi's operating income increased by 1%, to 829.5 million euros, thanks especially to the third-party manufacturing business, which grew by 1%, to 409.3 million euros, and the pharmaceutical specialties business, whose Sales also grew 1% compared to the previous year.

Sales of Rovi's heparin division decreased by 5% in 2023, to 250.6 million euros, due, according to the pharmaceutical company, to the difference between the increase in orders from partners linked to the treatment of Covid in 2022 and the lowest order volume in 2023.

The gross operating result (Ebitda) of the pharmaceutical company decreased by 12% in 2023, to 244.5 million euros, while the net operating result (Ebit) totaled 220.1 million euros, 14% less than in 2022.

"2023 is the first year of a new post-pandemic scenario, in which Covid-19 has become a seasonal disease and the vaccine is administered once a year. In this difficult context, we have been able to continue growing," he said. outstanding Juan López-Belmonte Encina, president and CEO of Rovi.

Rovi's gross margin decreased 4.5 points in 2023 due to the greater contribution to the third-party manufacturing business of income related to the activities developed to prepare the plant for the production of medicines under the agreement with Moderna, which contributes lower margins than the group's sales, and due to the lower margin from the manufacturing of the coronavirus vaccine compared to 2022.

The pharmaceutical company has also reported that it will propose to its general meeting of shareholders the payment of a dividend charged to the results of the 2023 financial year and to the results of previous years in the amount of 1.1037 euros per share.

This amount is approximately equivalent to 35% of the attributable profit for 2023, as highlighted by Rovi.

Looking ahead to 2024, Rovi expects its operating income to decrease "in the middle band of the first ten", that is, the ten between 0% and 10%, compared to those of 2023.

However, the company warns that there are certain factors that could affect these estimates "and whose realization, at this date, is difficult."

Among them, Rovi mentions the possibility of increasing vaccination rates in the Covid campaign; the incorporation of new clients due to the expansion of formulation, aseptic filling, inspection, labeling and packaging capabilities at the pharmaceutical company's facilities in Madrid; and the possible marketing authorization of Risvan by the US FDA in March 2024 to be able to market the product in the United States, "predictably with a partner."

"The potential sales to be achieved for this product in 2024 will depend on the terms of the agreement that Rovi establishes with said potential partner, which could also impact the estimates for 2024," the pharmaceutical company states.

Regarding the share buyback program launched by the company last July, Rovi has reported that, as of January 31, 2024, it had executed approximately 74.85% of the buyback program, having acquired a total of 1,808,392 own shares for a total amount of 97.3 million euros.