First-quarter sales and earnings down at Recordati
Shares of Italian drugmaker Recordati (RECI: MI) fell 2.5% to 44.70 euros, after the company posted financial results for the first quarter of 2021 today.
Consolidated net revenue was 384.8 million euros ($464.8 million) in the first quarter (-10.3% or -6.8% at constant exchange rate).
Earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 150.0 million euros, -13,2%. Operating income was 124.9 million euros, -15.9%. Net income was 89.9 million euros, -19.2%. Adjusted net income was 104.4 million, -16.6%.
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