Impressive guidance in line with our estimates
Richter posted clean EBIT of HUF 59.1bn (+18% YoY) on net sales of HUF 203.2bn
(-9% YoY) for Q4/23. Clean EBIT was 36% ahead of the consensus estimate of HUF
43.5bn and our estimate of HUF 43.4bn, respectively, while net revenue beat
estimate significantly. As a result, clean EBIT (incl. extra taxes) margin stood at
29.2% compared to our estimate of 23.7%.
Chemical Works of Richter Gedeon is a multinational pharmaceutical company that is engaged in the research, development, production and marketing and trade of pharmaceutical products. Co.'s activities are divided into two major business segments: Pharmaceutical, including research, development and manufacturing of pharmaceutical products; and Wholesale and Retail including wholesale and retail trade through the distribution chain as well as marketing of its products. Co. is primarily engaged in production of gynecological, cardiovascular and gastroenterological products, antibiotics, antimicotics, OTC and medicines for treatment of the central nervous system.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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