Rovi’s profit grows 55% in 2020 after the agreement to manufacture Moderna’s anti-Covid vaccine

Total revenue increased by 10% to €421.1 million in 2020.

Rovi facilities.

Rovi Pharmaceutical has raised its profits by 55% in 2020, reaching 61.1 million euros. As reported by the company to the National Securities Market Commission (CNMV) on Wednesday, the agreement with Moderna to manufacture its vaccine against Covid-19 has boosted the growth of sales of the manufacturing business to third parties by 39%. .

The company’s operating income increased by 10% compared to the previous year, reaching 420.0 million euros in 2020, mainly as a result of the strength of the third-party manufacturing business and the pharmaceutical specialties business, whose sales grew by 4%. The Total revenue they increased by 10% to reach 421.1 million euros in 2020.

On the other hand, the sales of the division of heparinas (Low Molecular Weight Heparins and other heparins) increased by 14% to reach, in 2020, 209.3 million euros. Heparin sales represented 50% of operating income in 2020, compared to 48% in 2019.

In addition, according to the statement sent to the CNMV, Rovi will propose to the General Shareholders’ Meeting a dividend charged to the results of the 2020 financial year of 0.3812 euros per share.

This represents an increase of 118% compared to the dividend paid against the results of the 2019 financial year (€0.1751/share) and would imply the distribution of approximately 35% of the consolidated net profit for the year 2020.

Forecast 2021

By 2021, Rovi expects the operating income grow between 20% and 30%, including the production of Moderna’s vaccine against Covid-19.

However, the laboratory points out that, given the uncertainties associated with the evolution of the pandemic, “it is not possible to accurately assess” the impact that Covid will have in this exercise.