Recordati Industria Chimica e Farmaceutica S.p.A. (RCDTF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the Coruscall conference operator. Welcome and thank you for joining the Recordati results for first nine months of 2024 conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Ms. Eugenia Leeds, Vice President of Investor Relations of Recordati. 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 nine months of 2024. As always, the presentation is available in the investor 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, good morning. Thank you for joining us all today. I'm pleased to share once again our outstanding results for the first nine months of 2024. We are proud of our performance and our excellent track record of consistently delivering at or above our financial objectives over the last decade. For this nine months, starting with net revenue of 1,743,000,000, up 12% versus the previous year, or 9.3% like-for-like at a constant exchange rate. This performance reflects continued excellent growth across specialty primary care, which was up 6.5% like-for-like at a constant exchange rate, and rare diseases, which was up 14.5% like-for-like at a constant exchange rate. Topline growth and operating leverage translated into our usual sector-leading profitability with an EBITDA margin of 38.2%. The adjusted net income was 445.4 million, up ...