ROVI REACHED 201.9 MILLION EUROS OF REVENUE IN THE FIRST POST-PANDEMIC QUARTER
For 2023, ROVI expects its operating revenue to show low-double-digit negative growth on 2022, although positive growth of between 5% and 10% is expected in comparison with the 2021 figure.
For 2023, ROVI is assuming a new post-pandemic scenario in which COVID-19 would foreseeably be a seasonal disease and, in principle, the vaccine would be administered once a year. For this reason, ROVI expects a stronger second half of the year compared to the first half regarding the CMO business. The first quarter of 2023 includes revenues linked to the production of vaccines in the fourth quarter of 2022. ROVI expects that the second quarter of 2023 will be the lowest quarter in terms of CMO sales.
Nevertheless, the uncertainty related to the evolution of the disease is very high. It is not, therefore, possible to make a precise assessment of the impact that this new scenario could have on the CMO business. Likewise, under the terms of the agreement signed with Moderna in February 2022, ROVI is still investing in increasing the compounding, aseptic filling, inspection, labelling and packaging capacities at its facilities and expects them to be fully installed by the end of 2024.
Taking account of the aforementioned guidance on a decrease in operating revenue in 2023, as well as the fact that ROVI will continue with its investment policy as stated, it is reasonable to expect that the Company’s profits may also see a downward adjustment in 2023.