Economic Financial Indicators

The identification of a clear corporate mission to be pursued with specific strategic planning, the control over its implementation, the continuous verification of the business model adopted with respect to the change in the competitive scenario have allowed the company to achieve important qualitative and quantitative results.

In the three-year period 2018-2020, in particular, the company recorded organic growth with a positive trend in the balance sheet items. Overall revenues, despite a decline in 2020, were on average stable in the three-year average with a compound annual growth rate (CAGR) of + 0.54%.

The dynamics of revenues were supported by international business which grew by about 30% in 2020, consolidating the already excellent performances of 2019 (+ 28%) and 2018 (+ 35%).

These values ​​are in line with the provisions of the strategic directives of the 2018-2023 Business Plan, which, as a consequence of the process of internationalization and enhancement of assets, provides for a gradual but constant increase in the revenues of this segment.

The trend in revenues relating to the domestic market is attributable to regulatory measures (AIFA note 96) and to the effects related to the spread of the Covid 19 pandemic, which was also significantly affected by the general trend of the national pharmaceutical market.

The compound annual growth rate (CAGR) of EBITDA for the three-year period equal to -2.07% was affected by the dynamics of the last two years where the company has completed important investments in Research & Development, Marketing and Sales and due to the decline in revenues in the last year.

However, the EBITDA in relation to revenues (EBITDA ratio) maintains very satisfactory values ​​also due to the cost optimization policy implemented.

The net financial position shows a trend of consolidation thanks to a better efficiency of the working capital and the cash flows generated by the typical activity; moreover, the shareholders' equity is constantly increasing both due to the results obtained, of which a good part are reinvested in the company, and to the revaluation of strategic corporate assets.

Consolidated Values (in Euro x1000)

Revenues202020192018
Pharma Italia 149.366,00 161.611,00 165.249,00
Variation % -7,58% -2,20% +7,93%
International 16.603,00 12.774,00 9.936,00
Variation % +29,97% +28,56% +35.40%
Licensing/CMO Italia  10.504,00 14.814,00 13.620,00
Variation % +8,4% +4,76% +23,18%
Total 176.473,00 189.403,00 189.077,00
Variation % -6.83% +0,17% +8,87%
Results(Thousand of Euro)202020192018
Turnover 176.473,00 189.403,00 189.077,00
Variation % -6,83% +0,17% +8,87%
Industrial margin 134.409,00 144.254,00 144.973,00
Variation % -6,82% -0,50% +9,18%
EBITDA 75.288,00 78.914,00 85.782,00
Variation % -4,59% -8,01% +7,01%
EBIT 69.730,00 73.528,00 80.932,00
Variation % -5,17% -9,15% +8,10%
Net profit (loss) 59.525,00 50.969,00 56.792,00
Variation % +16,79% -10,25% +7,93%
Net assets 163.027,00 129.727,00 124.177,00
Variation % +25,67% +4,47% +13,45%
Net capital invested 105.598,00 74.836,00 71.403,00
Variation % +41,11% +4,81% 0,78%
Net financial debits 57.429,00 57.892,00 52.774,00
Variation % +4,62% +4,01% -40,05%