Q3 2024 Laboratorios Farmaceuticos ROVI SA Earnings Call Transcript
Key Points
- Okedi sales increased by 126% compared to the first nine months of 2023, reaching EUR 20.3 million.
- Gross margin improved by 470 basis points to 63.6% in the first nine months of 2024.
- Bemiparin sales increased by 6%, with international sales growing 28%, particularly in China, Turkey, and Greece.
- ROVI's specialty Pharma business showed resilience with a 1% increase in sales to EUR 311.4 million.
- ROVI continues to invest in expanding its CDMO business, expecting significant growth in sterile fill and finish capacity.
- Operating revenue decreased by 5% to EUR 564.6 million due to lower COVID-19 vaccine manufacturing revenues.
- Net profit decreased by 4% in the first nine months of 2024.
- Sales of low molecular weight heparins decreased by 2% due to lower orders from enoxaparin partners.
- CDMO sales declined 12% to EUR 153.2 million, impacted by reduced COVID-19 vaccine-related revenues.
- ROVI decided not to proceed with the launch of Risvan in the United States due to market uncertainties and lack of a reliable partner.
Good morning to everybody. A warm welcome to all those attending the presentation of ROVI's first nine months 2024 financial results, which will start in a moment.
I'm Javier Lopez-Belmonte, ROVI's Deputy Chairman and Chief Financial Officer. Joining me on today's call are Juan Belmonte, ROVI's Chairman and CEO and Marta Campos, Our Head of Finance.
The presentation will be followed by Q&A session and therefore, if you want to ask any questions during the presentation, please do not hesitate to send them through the question button on the platform before we begin. Let me remind you that information presented in this call contains forward-looking statements based on our current beliefs and expectations.
Actual results could materially differ due to the known and unknown risks, uncertainties and other factors and we undertake no obligation to update or revise any of these statements
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