Spain · Delayed Price · Currency is EUR Laboratorios Farmaceuticos Rovi Earnings Call Transcripts
Fiscal Year 2026
-
Q1 2026 saw flat revenues and higher gross margins, but heparin sales declined amid pricing pressure and high inventories. CDMO growth was positive but full-year guidance was revised down due to contract delays, while R&D investment remains high and long-term targets are unchanged.
Fiscal Year 2025
-
2025 saw resilient performance with revenue of EUR 756.1 million and EBITDA up 4%, driven by Specialty Pharma growth and cost efficiencies, despite a CDMO sales decline. 2026 guidance targets high single- to low double-digit revenue growth, with major investments and R&D ramp-up planned.
-
A major U.S. manufacturing site acquisition adds advanced injectable capacity, a five-year $50 million annual contract with BMS, and significant expansion potential. The site will initially operate at cost-neutral levels, with profitability expected as new customers are secured and a new PFS line comes online.
-
H1 2025 saw a 4% revenue decline due to weaker CDMO, but specialty pharma sales rose 13% and Okedi sales surged 115%. Gross margin improved to 62.4%, and guidance for 2025 is reiterated, with continued investment in R&D and CDMO capacity.
-
Management outlined a multi-year growth strategy centered on CDMO expansion, specialty pharma, and ISM technology, targeting EUR 1.15–1.3 billion in revenue and EUR 700 million in CDMO sales by 2030. Specialty pharma growth will offset patent expirations, while R&D investment will drive new product launches. Utilization rates and pricing are expected to rise as market demand outpaces supply.
Fiscal Year 2024
-
2024 saw a 7.9% revenue decline due to lower COVID-19 vaccine manufacturing, but specialty pharma grew 2% with Okedi sales doubling. Investments in CDMO capacity and new product launches set the stage for future growth, while 2025 revenue is expected to decline mid-single digits.
-
Operating revenue fell 5% to EUR 564.6 million due to lower CDMO sales, while specialty pharma grew 1% led by Okedi and Bemiparin. Guidance for 2024 and 2025 anticipates mid-single-digit revenue declines, with focus on European Okedi, CDMO expansion, and R&D investment.
-
Operating revenue fell 14% in H1 2024 due to lower COVID-19 vaccine manufacturing, while specialty pharma sales grew 1% and Okedi sales surged 141%. EBITDA dropped 28%, but gross margin improved to 59.4%. Full-year revenue is expected to decline mid-single digits.