Recordati posts 1st-qrt revenue rise of 11%, boosted by international sales

Italian drugmaker Recordati (RC: MI) has reported an 11.4% rise to 244.6 million euros ($391.8 million) in consolidated revenue for the first quarter of 2013, with international sales growing 16.1%.

EBITDA, at 25.1% of sales, was 61.3 million euros, an increase of 13.5% over the same period of the preceding year. Operating income, at 21.5% of sales, came in at 52.6 million euros, up 10.5%, while net income, at 15.4% of sales, was 37.8 million euros, an increase of 11.8% over the first quarter 2012.

“The excellent results obtained in the first quarter of 2013, confirmed during the month of April, thanks to the strong international expansion of the group allow us to review our targets for the full year 2013”, declared Giovanni Recordati, chairman and chief executive, adding: “Therefore, we now expect to achieve sales of around 930 million euros, operating income of around 190 million euros and net income of around 132 million euros.”