• Total revenue in 2025 was 756.1 million euros, a 1% decrease on 2024.
• Operating revenue in 2025 was 743.5 million euros, a 3% decrease on 2024, mainly due to the performance of the contract development and manufacturing business ("CDMO"). However, sales of the specialty pharmaceutical business increased 11% to 473.9 million euros in 2025.
• Okedi® (Risperidone ISM®) continued its strong growth, reaching total sales of 56.7 million euros in 2025. This represents a 97% increase on 2024. Furthermore, in the fourth quarter of 2025, sales rose by 84% versus the fourth quarter of 2024 and grew by 11% compared with the third quarter of 2025.                  
• Sales of the heparin franchise (which includes low-molecular-weight heparins (LMWH) and other heparins) rose by 7% to 266.8 million euros in 2025 mainly due to an increase in orders from international partners. Enoxaparin was the main contributor to the growth of the division, with sales rising 9% to 157.7 million euros as a result of higher order volumes from partners during the year.
• Neparvis® continued to show solid performance, with sales growing by 10% in 2025 compared to 2024, rising to 56.7 million euros.
• On 18 November 2025, ROVI announced that its subsidiary ROVI Pharma Industrial Services, S.A.U. (hereinafter, "ROIS") had formally signed the definitive collaboration agreement with F. Hoffmann-La Roche Ltd. (hereinafter, "Roche") for the manufacture of a new medicine, currently in clinical development, belonging to Roche’s metabolic and cardiovascular portfolio. ROIS will place a high-speed filling line at its facility in San Sebastián de los Reyes (Madrid) at Roche’s disposal. For 2030, ROVI estimates that the agreement will contribute to a minimum increase of between 20% and 25% in contract manufacturing business sales compared with the 2024 figure.
• On 29 September 2025, ROVI announced that ROIS Phoenix Inc. (the "Buyer"), a wholly owned subsidiary of ROVI Pharma Industrial Services, S.A.U., had entered into an Asset Purchase Agreement with Bristol Myers Squibb (“BMS”) for the acquisition of a drug manufacturing facility located in Phoenix, Arizona (USA) (the "Facility") together with a series of assets and liabilities related thereto (the "Transaction"). As part of the Transaction, the Buyer has entered into a Toll Manufacturing Agreement with BMS, which regulates the conditions under which the Buyer will continue to manufacture for BMS at the Facility. The agreement has an initial term of five years from the closing of the Transaction and provides for a minimum payment of 50 million dollars for each year of the contract. The acquisition of the Facility will be made for a price which is not material for ROVI and will be subject to the fulfillment of certain customary conditions precedent set out for this type of transaction. The completion of the Transaction is expected to take place during the first half of 2026.
• In the third quarter of 2025, ROVI signed an agreement with Sandoz to market Rolcya® (denosumab), which corresponds to Prolia® of Amgen, in Spain. This medicine is indicated for the treatment of osteoporosis. Under the terms of this ten-year agreement, ROVI handles the promotion and distribution in Spanish territory of Rolcya®. ROVI started to market Rolcya® in November 2025. According to data from IQVIA, the annual denosumab market in Spain is estimated at 70 million euros per year, and ROVI aims to achieve annual Rolcya® of between 10 and 15 million euros.
• On 9 July 2025, the Technological Development and Innovation Centre (CDTI) published the final decision confirming the award of aid of 36.3 million euros for ROVI's LAISOLID project. This aid covers the period running from January 2023 to August 2026. In the second half of 2025, the Company has booked the revenue relating to the expenses incurred from January 2023 to December 2025 and has collected the entire amount awarded.
• Gross profit increased by 3% in 2025 compared to 2024, reaching 494.7 million euros. Gross margin showed an increase of 3.9 percentage points year-on-year to 66.5% in 2025. This increase was impacted by the recognition of revenue associated with the R&D aid awarded by the CDTI for the LAISOLID project, which is recorded under the "Other income" line. However, excluding the impact of "Other income", gross margin would have increased by 2.3 percentage points to 64.8% mainly due to: (i) the increased contribution of Okedi® sales, which added high margins, and (ii) the decrease in LMWH raw material prices, which had a positive impact on gross margin.
• EBITDA increased by 4% to 216.2 million euros in 2025. EBITDA margin increased 1.9 percentage points to 29.1% in 2025 from 27.2% in 2024.
• Net profit increased by 3% to 140.4 million euros in 2025.
• ROVI will propose to the General Shareholders Meeting a dividend of 0.9594 euros per share entitled to receive it, charged to the 2025 profit. This would entail distribution to an amount equivalent to approximately 35% of the consolidated net profit for 2025 attributed to the parent company. 

OUTLOOK

For 2026, ROVI expects its operating revenue to increase by between a high single-digit and low double-digit percentage compared to 2025. This estimate is based on a number of factors whose evolution is difficult to predict at the present time. Among the main elements affecting this guidance that have been taken into account and included when making the estimates:

• The potential revenue from the manufacturing agreement signed with Bristol Myers Squibb (closing still pending), as part of the Transaction announced on 29 September 2025, 
• Revenue arising from other agreements related to the contract manufacturing activity, and
• The growing competitive pressure on pricing in the heparin division.