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First nine months 2026 results press release

ROVI REPORTED TOTAL REVENUE GROWTH OF 19% AND GROSS MARGIN EXPANSION OF 5.7 PERCENTAGE POINTS

Thu, 05/11/2026 - 00:00 4 min

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Total revenue amounted to 633.7 million euros in the first nine months of 2026, up 19% compared to 534.1 million euros in the same period of 2025.
Operating revenue reached 610.2 million euros, representing year-on-year growth of 16%, mainly driven by the strong performance of the contract development and manufacturing business ("CDMO"), whose sales increased by 45% to 263.9 million euros in the first nine months of 2026.
Okedi® (Risperidone ISM®) continued to post strong growth, reaching sales of 53.0 million euros in the first nine months of 2026, up 29% compared with the same period of 2025. Sales in the third quarter of 2026 increased 35% compared with the third quarter of 2025 and 13% compared with the second quarter of 2026.
Sales of the heparin franchise (which includes low-molecular-weight heparins (LMWH) and other heparins) decreased by 5% to 180.9 million euros in the first nine months of 2026. This decrease was mainly attributable to lower international sales of both the enoxaparin biosimilar and bemiparin, as a result of high inventory levels held by partners.
Gross profit increased by 26% to 443.7 million euros, while gross margin expanded by 5.7 percentage points year-on-year to 72.7%. This improvement was positively impacted by the strong performance of the CDMO business, the growing contribution from Okedi®, lower LMWH raw material prices and the recognition of revenue associated with the R&D aid awarded by the Centro para el Desarrollo Tecnológico y la Innovación (CDTI) for the LAISOLID project, which is recorded under the "Other income" line.
On 1 April 2026, ROVI announced the completion of the acquisition, through its subsidiary ROIS Phoenix Inc., of a pharmaceutical manufacturing plant located in Phoenix, Arizona (United States), together with a series of related assets and liabilities, under the Asset Purchase Agreement signed with Bristol Myers Squibb. The purchase price allocation (PPA) for the acquisition resulted in a bargain purchase gain, or "badwill," of 62.4 million euros. This was recognised as non-recurring income in the Group's consolidated income statement.
EBITDA increased by 52% to 226.6 million euros in the first nine months of 2026, with an EBITDA margin of 37.1%, up 8.7 percentage points compared to the same period of 2025. Excluding the impact of the badwill, EBITDA increased by 10% to 164.3 million euros, reflecting an EBITDA margin of 26.9%.
Net profit increased by 67% to 162.8 million euros in the first nine months of 2026.
The ROVI General Shareholders Meeting, held on 17 June 2026, approved the payment of a gross dividend of 0.9594 euros per share, representing approximately 35% of the consolidated net profit for 2025 attributable to the parent company. This dividend was paid on 15 July 2026.
OUTLOOK

In light of the strong performance delivered during the first nine months of 2026 and the visibility for the remainder of the year, ROVI upgrades its 2026 operating revenue guidance. The Company now expects operating revenue to increase by a mid-to high-single-digit percentage compared with 2025, versus its previous guidance of growth in the low- to mid-single-digit range.

This upgrade is mainly the result of the stronger expected growth of the CDMO business, as well as a favourable evolution of the LMWH business, driven by higher expected volumes from bemiparin partners.

In line with common market practice, and with the aim of (i) starting from a more reliable full-year basis with integrated and coordinated forecasts, (ii) incorporating relevant year-end commercial and regulatory information, and (iii) reducing the degree of uncertainty surrounding the assumptions or factors that may affect the outlook, ROVI will publish its 2027 outlook in the presentation of its full-year 2026 results, scheduled for February 2027.

GAIN ON BARGAIN PURCHASE ARISING FROM THE ACQUISITION OF A MANUFACTURING FACILITY IN PHOENIX, ARIZONA

On 1 April 2026, ROVI announced the completion of the Asset Purchase Agreement signed between its subsidiary ROIS Phoenix Inc. ("ROIS Phoenix") and Bristol Myers Squibb (“BMS”) for the acquisition of a pharmaceutical manufacturing facility in Phoenix, Arizona (United States), together with a number of related assets and liabilities. Completion of this purchase agreement took place after the customary closing conditions for transactions of this nature had been satisfied and in the absence of any significant adverse change since the agreement was signed.

Simultaneously, Rovi Pharma Industrial Services, S.A.U., the parent company of ROIS Phoenix, and BMS entered into a Toll Manufacturing Agreement, with an initial term of five years, that sets out the conditions under which ROIS Phoenix will continue to manufacture for BMS at the facility.

As a result of the purchase price allocation process for the Arizona facility, a bargain purchase gain of 62.4 million euros was recognised and booked as non-recurring revenue in ROVI's consolidated income statement.

Likewise, when accounting for business combinations, there is a 12-month measurement period in which to evaluate the facts and circumstances existing at the acquisition date and, therefore, the measurement presented as of 30 September 2026 is considered provisional.