ROVI presents its financial results for the first half of 2024

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We highlight in this half of 2024:

In this half-year, special attention should be drawn to the 2.8 percentage point increase in the gross margin when compared with the first half of 2023, rising to 59.4%.

Operating revenue decreased 14%, mainly due to a lower contribution from the CDMO business, sales of which decreased to 118.9 million euros.

Operating revenue generated by the specialty pharmaceutical business increased 1% to 210.5 million euros.

Sales of the heparin division (low-molecular-weight heparins and other heparins) totalled 120.7 million euros in the first half of the year.

Low-molecular-weight heparins decreased 2% to 116.9 million euros in the first half of 2024, mainly due to the drop in enoxaparin sales. However, a greater concentration of orders from partners is expected in the second half of 2024.

Bemiparin sales increased 6%, driven mainly by a higher volume of orders from partners in China, Turkey and Greece.

ROVI expects bemiparin sales to increase by a low-single-digit percentage in 2024 compared with 2023. Risperidone ISM® sales rose 141% in the first half of 2024 versus the same period of 2023, totalling 12.5 million euros.

In 2024, this product has been approved in the United States, Canada and Australia, thus reinforcing ROVI’s internationalisation strategy. Risperidone ISM® is expected to reach potential sales of between 200 and 300 million euros globally in upcoming years. R&D expenses rose 13% to 12.2 million euros. Regarding guidance for 2024, ROVI expects its operating revenue to decrease by a mid-single-digit percentage, although this guidance considers certain factors that could affect the estimates but are difficult to specify at present.