Recordati closed the first quarter of 2016 with a net profit of 65,5 million euros, up 26% compared to the same period a year ago. Consolidated revenues rose by 9,6% to 302,2 million (+11,5% international revenues), with ebitda up 19,6% to 99 million and operating profit by 90,2 million (+22,7%). The net financial position as at 31 March 2016 shows a net debt of 42,1 million, when the shareholders' equity increased further and is equal to 916,5 million euros.
“The economic results of the first quarter were particularly positive, with a significant increase in both revenues and profitability, also thanks to a favorable seasonality in some countries”, declared Giovanni Recordati, president and chief executive officer of the group. “For the full year 2016 we now expect to achieve revenues of more than 1.100 million euros, an operating profit of more than 310 million and a net profit of more than 220 million,” he added.
