Laboratorios Rovi : Q1 2023 EBITDA beats our numbers and the consensus. Outlook maintained
>Sales momentum inevitably deteriorates yet Rovi almost delivers flat sales in the quarter on abnormally strong CMO sales - Total revenues decreased -2% y-o-y in Q1 2023 reaching € 202m, a touch better than our estimates and the consensus and posting a 29pp sequential deterioration which was largely expected. This slight beat is due to an counter-intuitive surge in toll manufacturing sales to Moderna for its mRNA Covid vaccine (sales of toll manufacturing +2% y-o-y to...Laboratorios Farmaceuticos Rovi is engaged in the sale of its own pharmaceutical products and the distribution of other products for which it holds licenses granted by other laboratories for specific periods, in accordance with the terms and conditions contained in the agreements entered into with said laboratories.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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