Healthy growth in Recordati's transformative year
Recordati (RECI: MI) went through a change in its majority ownership last year, with private equity fund CVC Capital Partners paying 3 billion euros ($3.4 billion) for nearly 52% in Fimei, the Recordati family holding company.
The financial results from 2018 were announced on Monday, and CVC will feel increasingly confident in its investment given the growth in both sales and profit figures.
Consolidated revenues rose 5% to 1.35 billion euros, with earnings before interest, taxes, depreciation and amortization (EBITDA) up 10% to 499.1 million euros.
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