Recordati reports strong earnings growth for first nine months of 2014
Italian pharma company Recordati (RECI: MI) has reported a strong set of financials for the first three-quarters of 2014, with revenue for the period growing 5.7% to 742.1 million euros ($900.2 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA, representing 28.7% of group sales, were 212.9 million euros, an increase of 22.4% over the like 2013 period. Operating income, at 24.3% of sales, was 180.4 million euros, up 21.6%. Net income grew 22.2% to 124 million euros. As at end September 2014, the company recorded a net debt of 152.5 million euros, with shareholders’ equity increasing to 819.4 million euros.
Business outlook
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