Laboratorios Rovi : Q4 earnings beat on stronger CMO momentum. Soft FY 2023 sales guidance reiterated.
>Sales momentum improves sharply q-o-q and beats our estimates - Total revenues increased 31% y-o-y in Q4 2022 reaching € 242m knocking our estimates and consensus by +13% and +10% respectively and posting a 19pp sequential improvement. The beat is namely due to a seasonal surge in toll manufacturing sales to Moderna for its mRNA Covid vaccine vs the previous quarters (sales of toll manufacturing +60% y-o-y to € 136m vs +18% growth posted in Q3 2022 and +21% in Q2 202...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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