It foresees that its income will decrease between 10% and 20% in 2023, with Covid as a "seasonal disease" and one dose of vaccine per year
MADRID, 21 Feb. (EUROPA PRESS) -
Rovi obtained a net profit of 199.7 million euros in 2022, a figure 30% higher than that of 2021, as reported by the pharmaceutical company to the National Securities Market Commission (CNMV) on Tuesday.
The company's operating income increased by 26% in 2022, to 817.7 million euros, thanks to the "strength" of the manufacturing business for third parties, which grew 52% in sales, and the pharmaceutical specialty business, whose sales increased by 8%.
The pharmaceutical has highlighted that in 2022 it exceeded the high band of its forecasts for growth in operating income (15% -20%) by registering an increase in them of 26%.
As the company has highlighted, sales of its heparin division (Low Molecular Weight Heparins or LMWH and other heparins) increased by 9% last year, to 264 million euros, while sales of the enoxaparin biosimilar totaled 152.9 million euros, 23% more than in 2021.
For its part, Rovi's gross operating result (Ebitda) increased by 37% in 2022, reaching 278.9 million euros.
Following these results, Rovi will propose to its general shareholders' meeting the distribution of a dividend charged to the 2022 financial year and to the results of previous financial years in the amount of 1.2938 euros per share.
This amount represents an increase of 35% with respect to the dividend paid out of the results of the 2021 financial year (0.9556 euros/share) and would imply the distribution of an amount equivalent to approximately 35% of the consolidated attributable net profit for 2022 .
By 2023, Rovi expects its operating income to decrease between 10% and 20% compared to 2022, although it will exceed the figure reached in 2021 by between 5% and 10%.
Looking ahead to this financial year, the pharmaceutical assumes a new post-pandemic scenario in which Covid would "predictably" be a seasonal disease and the vaccine would, in principle, be administered once a year.
For this reason, Rovi foresees a "stronger" second semester than the first in terms of the manufacturing business for third parties.
The company expects the first quarter of 2023 to include revenue linked to vaccine production in the fourth quarter of 2022, with the second quarter of 2023 being the quarter with the lowest manufacturing sales to third parties.
However, it warns that the uncertainty associated with the evolution of the disease is "very high", which is why it ensures that it is not possible to accurately assess the impact that this new scenario could have on its manufacturing business for third parties. .
Under the terms of the agreement signed with Moderna, in February 2022, Rovi continues to invest to increase its formulation, aseptic filling, inspection, labeling and packaging capacities at its facilities and expects these capacities to be fully installed by the end of 2024.
"Taking into account the aforementioned forecast of a reduction in operating income in 2023 and that Rovi will continue with its investment policy, it is reasonable to expect that the company's results can also be adjusted downwards in 2023," he concludes.