The company reported a gross operating profit (Ebitda) of 207.4 million eurosin 2024, 15% less than in 2023, while its net operating profit (Ebit) fell 19% to 179.4 million euros.

Rovi's operating income stood at E763.7 million in 2024, down 8% compared to 2023, mainly due to the performance of the third-party manufacturing division.

This division generated lower revenues linked to the manufacture of the covid vaccine compared to 2023 and lower revenues related to the activities developed to prepare the plant for the production of the vaccine under the agreement with Moderna, the drugmaker explained.

In contrast, Rovi's sales from the specialty pharmaceuticals business increased by 2% in 2024, reaching E427.5 million, compared with E420.2 million in 2023.

The company's gross margin increased by 3.7 points compared to 2023, to 62.7% in 2024. Among other factors, Rovi attributed this margin increase to the lower contribution to the third-party manufacturing (CDMO) business from revenues related to activities developed to prepare the plant for drug production under the agreement with Moderna, as well as the higher contribution to the CDMO business from existing customers, excluding Moderna, which contributed high margins.

"2024 has been a key year in laying the foundation for Rovi's future. We are at a time when investing is essential."

"2024 has been a key year to lay the foundations for Rovi's future. We are at a time when investing is essential to drive our growth. That is why we are focused on increasing our production capacities in the third-party manufacturing business and on strengthening the company's internationalization with Risperidone," said Rovi's president, Juan López-Belmonte.

The also CEO of the company has underlined that the good reception of this product in the European countries where it has been launched, and its approval in Canada, Australia and Taiwan open to Rovi "new growth opportunities in the field of extended-release injectables for the treatment of schizophrenia in the world".

Dividend payment and 2025 forecasts

Rovi has also informed the CNMV that it will propose to the General Shareholders' Meeting the distribution of a dividend against 2024 results of 0.9351 euros per share, which would imply the distribution of an amount equivalent to approximately 35% of the consolidated attributable profit for 2024.

Looking ahead to 2025, Rovi expects its operating income to decrease by between 0% and 10% compared to 2024. However, the company specifies that there are factors that could influence these estimates, which are difficult to specify at this date.

Among these factors, the pharmaceutical company mentions the demand and production with respect to the vaccination campaign that would be implemented in 2025, and the possibility that the expansion of the formulation, aseptic filling, inspection, labeling and packaging capacities in Rovi's facilities in Madrid and the current high demand for third party manufacturing services (CDMO) in the market could favor the incorporation of new business, with the consequent impact on sales.

Rovi obtained an attributable net profit of E136.9 million in 2024, 20% lower than the E170 million profit of 2023, as reported Tuesday by the pharmaceutical company to the Spanish National Securities Market Commission (CNMV).

• Laboratorios Farmaceuticos ROVI SA