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Cosmo Pharmaceuticals Delivers Record 2024 Results - Completes Phase III Enrollment for Androgenetic Alopecia in Males - Proposes Increased Dividend of 2.05 per share - Reinforcing Shareholder Value and Growth Momentum into 2025
Ad hoc announcement pursuant to Art. 53 LR FY 2024 Revenue of €266.8 million (unaudited) reaching upper end of guidance FY 2024 Operating Profit (unaudited) of €148.9 million, ...
About this update from Cosmo Pharmaceuticals Nv
[{"type":"text","content":"Ad hoc announcement pursuant to Art. 53 LR","length":42,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"FY 2024 Revenue of €266.8 million (unaudited) reaching upper end of guidance","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"FY 2024 Operating Profit (unaudited) of €148.9 million, exceeding guidance, when adjusted for an accounting policy change","length":127,"tagName":"p"}]},{"val":[{"type":"text","content":"Outlook for 2025","length":16,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":225,"olType":false},{"type":"text","content":"Dublin, Ireland--(Newsfile Corp. - March 6, 2025) - Cosmo Pharmaceuticals N.V. (SIX: COPN) (FSE: C43) (“Cosmo”) today reported its unaudited results for the fiscal year ending December 31, 2024. The consolidated and audited 2024 Full-Year results along with the 2024 Annual Report and ESG Report will be published on March 21, 2025.","length":344,"tagName":"p"},{"type":"text","content":"2024 Unaudited Financial Highlights","length":35,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Record revenue: €266.8 million, a 188% year-over-year increase and at the upper range of €260 - €270 million guidance. This includes significant project-based revenues from GI Genius™ and Winlevi® milestones of €190.2 million.","length":261,"tagName":"p"}]},{"val":[{"type":"text","content":"In 2024 Cosmo adopted a change in accounting policy regarding the treatment of internal development costs, namely that it will no longer capitalize clinical phase III costs. As a result, operating expenses for 2024 now include €18.6 million in development costs that were previously anticipated would be capitalized (mainly Phase III costs for Clascoterone solution for Androgenetic Alopecia in males). Accordingly, the figures for 2023 have been restated to include €10.9 million in development costs.","length":514,"tagName":"p"}]},{"val":[{"type":"text","content":"Operational excellence: EBITDA increased 1,517% year-over-year to €161.2 million.","length":87,"tagName":"p"}]},{"val":[{"type":"text","content":"Solid financial performance: Operating Profit of €148.9 million, compared to a restated operating loss of €1.9 million in 2023.","length":139,"tagName":"p"}]},{"val":[{"t...