22 ABRIL 2021

Recordati shareholders approve the 2020 accounts

News Release

RECORDATI SHAREHOLDERS APPROVE THE 2020 ACCOUNTS. DIVIDEND € 1.05 PER SHARE (+5% vs 2019)

  • Shareholders approve the 2020 results: consolidated revenues € 1,448.9 million (-2.2% vs 2019), EBITDA(1) € 569.3 million (+4.7%), operating income € 469,0 million (+0.8%), net income € 355,0 million (-3.8%), adjusted net income € 410.4 million (+7.3%).
  • Dividend for 2020 € 1.05 per share (+5.0% vs 2019), of which € 0.50 already paid in November 2020.
  • Remuneration policy approved and favourable note taken of the 2020 remuneration.
  • New Stock Option Plan called “Stock Option Plan 2021-2023” approved.
  • Authorization to buy-back and dispose of Recordati shares renewed.
  • For the first quarter of 2021, consolidated net revenues, at € 384.8 million (-10.3% compared to the same period last year), reflect the continued impact of the COVID-19 pandemic coupled with the negative currency exchange effect (-3.5%). Additionally, while the first quarter of 2020 benefited from accelerated stocking of around € 20 million to deal with the onset of the health emergency, at the beginning of this year wholesalers and pharmacies decreased stocks of seasonal flu medications due to the low incidence of illness.
  • The full quarterly set of results will be published and presented on 6 May together with the 2021 - 2023 strategy and outlook update.

 

Milan, 20 April 2021 – Today the Annual Meeting of Recordati S.p.A. Shareholders was held.

 

Recordati S.p.A.’s Annual Shareholders’ Meeting approved the company’s 2020 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 statements 2020, pursuant to Legislative Decree n. 254/2016, were presented. The tables attached contain a summary of the 2020 financial statements which were commented in the press release issued on 18 March 2021. In 2020 consolidated net revenues were € 1,448.9 million (-2.2%), EBITDA(1) was € 569.3 million (+4.7%), operating income was € 469.0 million (+0.8%), net income was € 355.0 million (-3.8% or +3.2% excluding non-recurring “Patent Box” tax benefits, equal to € 2.0 million in 2020 and to € 27.0 million in 2019), adjusted net income(2) was € 410.4 million (+7.3%).

 

As proposed by the Board of Directors, the shareholders approved a dividend of € 0.55 per share, in full balance of the interim 2020 dividend of € 0.50, to be paid to all shares outstanding at ex-dividend date, excluding those in treasury stock, as from 26 May 2021 (record date 25 May 2021), with ex- dividend on 24 May 2021 (against presentation of coupon no. 27). The full 2020 dividend is therefore of € 1.05 per share (€ 1.00 per share in 2019).

 

(1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, and non-recurring items.
(2) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, and non-recurring items, net of tax effects.

See full report here

 


 

RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.p.A.

 

Sede Legale
VIA Matteo Civitali, 1
20148 Milano, Italy
Ph. (39) 02 487871
Fax (39) 02 40073747

Share Capital € 26.140.644,50 fully paid-up
Milano, Monza, Brianza and Lodi Comp. Reg. No. 00748210150

Tax Code/VAT No. 00748210150
Milano R.E.A. No. 401832

Company subject to the Management and Coordination Activity of Rossini Luxembourg S.àr.l