Italy's Recordati posts 4.5% 1st-qtr sales growth

Italian drugmaker Recordati (RECI: MI), which is now 52% owned by private equity fund CVC Capital Partners, has reported that consolidated revenues in the first quarter of 2019 were 383.0 million euros ($428.6 million), up by 4.5% compared to the same period of the preceding year. International sales grow by 4.6%.

Earnings before interest, tax, depreciation and amortization (EBITDA),at 37.6% of sales, were 143.9 million euros, an increase of 7.1% over the first quarter of 2018. Operating income, at 32.9% of sales, was 126.0 million euros, an increase of 4.5% over the same period of the preceding year. Net income, at 24.1% of sales, was 92.1 million euros, an increase of 6.4%.

Recordati’s shares traded up 3.14% to 36.78 euros shortly before market close today.