- Recordati press release ( OTCPK:RCDTF ): FY EBITDA €672.8M, +11.7%, margin of 36.3%.
- Adjusted net income €473.3M, +11.5%.
- Revenue of €1.85B +17.3% or +8.1% organic growth at constant exchange rate.
- Strong Free cash flow at €439.0M, over 90% of adjusted net income.
- Adjusted gross profit was €1,336.4M, up 16.0%, with margin of 72.1%.
- Outlook: 2023 revenue between €1,970M and €2,030M and EBITDA between €700M and €730M.
- EBITDA margin of around 36% and adjusted net income between €470M and €490M.
- 2025 revenue between €2,250M and €2,350M and EBITDA between €810M and €850M (including new BD and M&A).
- EBITDA margin of around 36% and adjusted net income between €550M and €580M. Net debt expected to be between 1.7-2.0x EBITDA.
For further details see:
Recordati reports FY results; initiates FY23 and FY25 guidance