Italy's Recordati post strong 2015 financial results

Italian drugmaker Recordati (RECI: MI) today reported 2015 full-year results, showing that consolidated revenues were up 6.1% year-on-year at 1.05 billion euros ($1.17 billion). International sales, which represent 79.8% of total sales, grew by 8.8% while sales in Italy, at 20.2% of the total, decreasing by 3.3%.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were 317.0 million, an increase of 15.8% over 2014, with a margin of 30.3% of sales thanks to gross margin improvement and the relatively low increase in operational costs.  Operating income at 26.6% of sales, was 278.5 million euros, an increase of 20.6% over the preceding year.  Net income increased 23.3% to 198.8 million euros.

Management comments