Recordati Industria Chimica e Farmaceutica S.p.A. (RCDTF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is the conference call operator. Welcome. Thank you for joining the Recordati First Half 2025 presentation conference call. As a reminder, all participants are in listening mode. After the presentation, there will be an opportunity to ask questions by pressing star 1 at any time. Should anyone need assistance due to the conference call, you may signal an operator by pressing star and 0 on the table. At this time, I would like to turn the conference over to Eugenia Leeds, Investor Relator. Please go ahead, madam. Thank you, and good afternoon, everyone. I'm pleased to be here today with Rob Cormans, our CEO, and Luigi Licorte, our CFO. Together, they will present results for the first half of 2025. Also joining for the Q&A session will be Alberto Martinez, Executive Vice President of Specialty and Primary Care, Scott Pescatore, Executive Vice President of Rare Diseases, and Milan Droskovic, Executive Vice President of R&D. As always, the presentation is available in the Investors section of our website. It is now my pleasure to pass the call over to Rob. Please go ahead. Thank you, Eugenia, and good afternoon, and thank you for joining us today. We are very pleased to share our good results for the first half of 2025. beginning with net revenue of 1.32 billion, an increase of 11.7% compared to the previous year, or 7.8% like for like at a constant exchange rate. This reflects an adverse FX impact of minus 2% in the first half, mostly from the Turkish lira and increasingly from the U.S. dollar. This performance demonstrates continued momentum across specialty and primary care, which increased by 5.1% like for like at a constant exchange rate, and rare diseases, which grew by 12.8% like for like at a constant exchange rate. Robust top-line performan...