MILAN, ITALY--(Marketwire - February 13, 2013) -
* Consolidated revenue EUR 828.3 million, + 8.7%.
* Operating income EUR 167.0 million, + 2.1%.
* Net income EUR 118.5 million, + 1.8%.
* Net financial position*: net debt of EUR 153.5 million.
* Six OTC products acquired in Germany.
* Acquisition of Farma-Projekt and a portfolio of products in Poland.
* Acquisition of a portfolio of OTC products in Russia.
* Graspa®, a new cancer treatment in development, licensed from
* Acquisition of Dentosan® oral care line in Italy.
* Subsequent events: Acquisition of a portfolio of treatments for
diseases in the USA successfully concluded.
* 2013 targets and plan for 2015 announced.
The Board of Directors of Recordati S.p.A. examined
the preliminary consolidated results for 2012 and the 2013-2015 plan.
company's definite consolidated annual financial reports will be
the Board for approval on 7 March 2013.
* Consolidated revenue in 2012 is EUR 828.3 million, up by 8.7% compared
preceding year. Pharmaceutical sales are EUR 797.4 million, an increase
8.7% while pharmaceutical chemicals sales are EUR 30.9 million, an
* Operating income, at 20.2% of sales, is EUR 167.0 million, an increase
2.1% over the preceding year. Fourth quarter results include
costs related to the acquisition of the European rights to Graspa®
million) and to the restructuring of our sales organization.
* Net income at 14.3% of sales is EUR 118.5 million, an increase of 1.8%.
* Net financial position* at 31 December 2012 records a net debt of EUR
million as compared to a net debt of EUR 55.7 million at 31 December
During the year EUR 21.0 million were paid for the acquisition of six
products in Germany, EUR 14.3 million overall were paid for the
in Poland of the pharmaceutical company Farma-Projekt plus a portfolio
products, EUR 67.2 million were paid for the acquisition of a product
portfolio in Russia and dividends for a total of EUR 61.4 million were
* Cash and short-term financial investments net of bank overdrafts and
medium/long-term loans which include the measurement at fair value of
derivatives (fair value hedge).
"During the year just ended important transactions were concluded
significant results were obtained for the growth and
internationalization of the group", declared Giovanni Recordati,
CEO. "During April the marketing authorizations, the trademarks and
assets concerning six OTC pharmaceuticals for Germany were acquired. In
he acquisition of 100% of the share capital of Farma-Projekt Sp. z
Polish pharmaceutical company with headquarters in Krakow, was
concluded and a portfolio of products for the Polish market was acquired
Labormed. In October the Dentosan® oral care line of products was
Italy. In November the acquisition of all rights to five product lines
Russian market was successfully concluded. Also in November our
Orphan Europe and Erytech Pharma, a French biopharmaceutical company,
into an agreement granting Orphan Europe the exclusive rights for
commercialization and distribution of Graspa® for the treatment
Lymphoblastic Leukemia (ALL) and Acute Myeloid Leukemia (AML) in
December an agreement for the acquisition of all rights concerning a
of products indicated for the treatment of rare and other diseases and
mainly in the United States of America, from Lundbeck LLC was
transaction was concluded successfully in January and Recordati Rare
Inc. was established in the USA. For 2013, our targets are to achieve
more than EUR 920 million, operating income of more than EUR 185
million and net
income of more than EUR 128 million. The objectives in our business plan
achieve sales of between EUR 1.025 and EUR 1.075 million, operating
between EUR 210 and EUR 220 million and net income of between EUR 140
and EUR 150
Declaration by the Manager responsible for preparing the company's
The manager responsible for preparing the company's financial reports,
Squindo, declares, pursuant to paragraph 2 of Article 154-bis of
Consolidated Law on Finance, that the accounting information contained in
press release corresponds to the document results, books and accounting
Meeting with the financial community and specialized press
Recordati S.p.A. will be hosting a meeting with the financial
specialized press today, Tuesday 12 February 2013, at 4 pm at the
of Borsa Italiana, Palazzo Mezzanotte, Piazza degli Affari 6, Milan.
meeting Recordati's preliminary full year 2012 results will be presented
Group's development strategy and objectives for the period 2013-2015
A simultaneous translation into English of the proceedings will be
conference call. Dial-in numbers are:
Italy +39 02 8058811, toll free 800 213 858
UK +44 1 212818003, toll free 800 0156384
USA +1 718 7058794, toll free 855 2656959
France +33 170918703
Germany +49 65 255114451
Callers are invited to dial-in 10 minutes before conference time. If
operator assistance is required during the connection please digit *
0 or call +39 02 8061371. A recording of the conference call will be
the website www.recordati.com.
A set of slides which will be referred to during the call will be
our website www.recordati.com under Investors/Company Presentations.
Recordati, established in 1926, is a European pharmaceutical group,
the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM,
0003828271), with a total staff of over 3,300, dedicated to the
development, manufacturing and marketing of pharmaceuticals.
Milan, Italy, Recordati has operations in the main European
Central and Eastern Europe, and in Turkey. A field force of more than
medical representatives promotes a wide range of innovative
both proprietary and under license, in a number of therapeutic areas
specialized business dedicated to treatments for rare diseases. Recordati
partner of choice for new product licenses from companies which do not
European presence. Recordati is committed to the research and
new drug entities within the cardiovascular and urogenital therapeutic
of treatments for rare diseases. Consolidated revenue for 2011 was EUR
million, operating income was EUR 163.5 million and net income was
Statements contained in this release, other than historical facts, are
"forward-looking statements" (as such term is defined in the
Litigation Reform Act of 1995). These statements are based on
available information, on current best estimates, and on assumptions
be reasonable. This information, these estimates and assumptions may prove
incomplete or erroneous, and involve numerous risks and uncertainties,
the Company's control. Hence, actual results may differ materially from
expressed or implied by such forward-looking statements. All
descriptions of Recordati products are intended solely as information
general nature of the company's activities and are not intended to
advisability of administering any product in any particular instance.
RECORDATI : POSITIVE PRELIMINARY 2012 RESULTS. :
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originality of the information contained therein.
Source: RECORDATI via Thomson Reuters ONE