BRIEF—Recordati reports strong sales and earnings growth

The financial results for the first nine months of 2017 emphasize the continued growth of the Italian Recordati (RECI: MI) group, with revenues and profitability increasing significantly, the company announced today.

Consolidated revenue was 963.8 million euros ($1.11 billion), up by 11.8% compared to the same period of the preceding year. International sales grow by 11.7%. Earnings before interest, taxes, depreciation and amortization (EBITDA), at 35.5% of sales, was 342.0 million euros, an increase of 22.1% over the nine months of 2016 and operating income, at 31.9% of sales, was 307.5 million euros, an increase of 21.8% over the same period of the preceding year. Net income, at 22.8% of sales, was 219.8 million euros, an increase of 20.6% over the first nine months of 2016

During the period dividends were distributed and the acquisition of the marketing rights to the metoprolol based products from AstraZeneca was concluded for an overall disbursement of 339.0 million euros. Recordati noted. Shareholders’ equity increased to 1,054.9 million euros.