Q1 2026 Laboratorios Farmaceuticos ROVI SA Earnings Call Transcript
Key Points
- Gross profit increased by 5% to EUR 95 million, with an improvement in gross margin by 3.8 percentage points to 62.3%.
- The contract manufacturing business (CDMO) performed well, growing by 5% during the period.
- Okedi sales increased by 37% year-on-year, continuing to be a key growth driver.
- The full integration of the Phoenix facility strengthens Rovi's US manufacturing footprint and CDMO capabilities.
- Rovi maintains a solid financial position with a net debt of EUR 14.9 million and plans to propose a dividend payout of 35% of consolidated net profit.
- Operating revenues decreased by 1.5% compared to the first quarter of 2025, mainly due to the performance of the heparin division.
- The heparin division saw a 12% decline, primarily due to lower bemiparin sales driven by high inventory levels from international partners.
- SG&A expenses increased by 18% due to higher personnel costs and other operating expenses.
- R&D expenses rose by 79% to EUR 11.2 million, impacting overall profitability.
- There is increased pricing pressure in the heparin market, particularly from Chinese players, leading to a forecasted high single-digit percentage decline in low molecular weight heparin sales for 2026.
Hello, everyone. This is Marta Campos, Head of Finance for ROVI. Welcome to our company's review of business results for the first quarter of 2026.
Before we begin, let me remind you that today's presentation and associated documentation are available on the Investor Relations section of ROBI's website.
Please note. That the information presented in this call contains forward-looking statements based on our current beliefs and expectations.
Actual results could naturally differ due to known and unknown risks, uncertainties, and other factors, and we undertake no obligation to update or revise any of the statements.
Moving to today's agenda, Juan Lopez-Pelmonte. Rovi's Chairman and Chief Executive Officer, will discuss our business performance for the quarter.
Javier Lopez-Velmonte, Rovi's Deputy Chairman and Chief Financial Officer, will then review financial results.
The presentation will be followed by a Q&A session. Before, if you want to ask any questions during the
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