(Reuters) -Italian drugmaker Recordati reported on Tuesday a 9.6% rise in first-half core profit, but said adverse currency moves would have a bigger than impact than previously expected over the full year. The pharmaceutical company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first half of the year came in at 496.3 million […]
Health
Recordati’s core profit rises, but sees bigger FX hit
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(Reuters) -Italian drugmaker Recordati reported on Tuesday a 9.6% rise in first-half core profit, but said adverse currency moves would have a bigger than impact than previously expected over the full year.
The pharmaceutical company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first half of the year came in at 496.3 million euros ($572.8 million), while its adjusted net income rose 8.9% to 327.8 million euros.
While confirming its 2025 guidance, Recordati warned of a “significantly higher” impact from unfavourable currency moves, amounting to a 3% revenue hit on a yearly basis.
The pharmaceutical firm had said at the beginning of the year it expected a 1% hit from adverse currency moves.
($1 = 0.8665 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk. Editing by Mark Potter)