30 ABRIL 2020

Recordati shareholders approve the 2019 accounts

News Release

RECORDATI SHAREHOLDERS APPROVE THE 2019 ACCOUNTS. DIVIDEND € 1.00 PER SHARE (+8.7% vs 2018)

  • Shareholders approve the 2019 results: consolidated revenues € 1,481.8 million (+9.6% vs 2018), EBITDA(1) € 544.0 million (+9.0%),operating income € 465,3 million (+5.2%), net income € 368,9 million (+18.1%), includes an extraordinary tax benefit of € 27.0 million from the so-called “patent box” agreed with the Italian tax authorities in December 2019. Excluding this benefit net income would have been € 341.9 million, +9.4%.
  • Dividend for 2019 € 1.00 per share (+8.7% vs 2018), of which € 0.48 already paid in November 2018.
  • Number of Board members increased from eleven to twelve. New members appointed: Francesco Balestrieri, Giorgio De Palma, Guido Guidi and Piergiorgio Peluso (independent).
  • Alfredo Altavilla appointed non executive Chairman of the Board of Directors; Guido Guidi appointed Vice Chairman; Michaela Castelli appointed lead independent director.
  • Statutory Auditors appointed for the 2020-2022 three-year period.
  • EY S.p.A. appointed external auditors for the 2020-2028 nine-year period.
  • Remuneration policy approved and favourable note taken of the 2019 remuneration.
  • Authorization to buy-back and dispose of Recordati shares renewed.
  • First quarter 2020 consolidated revenues € 429.3 million (+12.1% vs the first quarter of 2019) which include estimated € 20 million of stock purchases by wholesalers and pharmacies to face the Covid-19 emergency and are expected to lead to de-stocking in the second quarter.

 

Milan, 29 April 2020 – Today the Annual Meeting of Recordati S.p.A. Shareholders was held.

 

Recordati S.p.A.’s Annual Shareholders’ Meeting approved the company’s 2019 financial accounts, which were prepared according to IFRS. In addition, the Group’s consolidated statements, which were also prepared according to IFRS, and the consolidated non financial information disclosure pursuant to Legislative Decree n. 254 dated 30 December 2016, were presented. The tables attached contain a summary of the 2019 financial statements which were commented in the press release issued on 18 March 2020. In 2019 consolidated revenues were € 1,481.8 million (+9.6%), EBITDA(1) was € 544.0 million (+9.0%), operating income was € 465,3 million (+5.2%), net income was € 368,9 million (+18.1%) and includes an extraordinary tax benefit of € 27.0 million from the so-called “patent box” agreed with the Italian tax authorities in December 2019. Excluding this benefit net income would have been € 341.9 million, +9.4%. International sales account for 81.0% of total sales.

 

As proposed by the Board of Directors, the shareholders approved a dividend of € 0.52 per share, in full balance of the interim 2019 dividend of € 0.48, to be paid to all shares outstanding at ex-dividend date, excluding those in treasury stock, as from 20 May 2020 (record date 19 May 2020), with ex-dividend on 18 May 2020 (against presentation of coupon no. 25). The full 2019 dividend is therefore of € 1.00 per share (€ 0.92 per share in 2018).

 

(1) Net income before net interest, provision for taxes, depreciation, amortization and write down of both property, plant and equipment and intangible assets.

 

See full report here

 


 

RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.p.A.

 

Sede Legale
VIA M. CIVITALI, 1
20148 MILANO, ITALIA
TEL. (39) 0248787.1
FAX (39) 0240073747

CAPITALE SOCIALE € 26.140.644,50 i.v.
REG. IMP. MILANO, MONZA, BRIANZA e LODI 00748210150
CODICE FISCALE/P. IVA 00748210150
R.E.A. MILANO 401832

Societ à Soggetta all’attività di Direzione e Coordinamento di Rossini Luxembourg S.àr.l