Annual
Report 2024
“Together, we are shaping a healthier future”
Rob Koremans
Chief Executive Officer
Hear from Our Leaders
Watch the video to hear from Rob Koremans (CEO), Luigi La Corte (CFO), Alberto Martinez (EVP SPC), Scott Pescatore (EVP RD) commenting on what we have achieved as a business so far and what we can look forward to in the future.
Chairman’s Message
“With the strong momentum of 2024, the dedication of our exceptional people, and our proven track record, Recordati is well-positioned for sustained growth and continued success in the years ahead.”
Andrea Recordati
Chairman
CEO’s Message
“I am proud that, in 2024, Recordati delivered another outstanding performance. We have built on the momentum from previous years and continue to set the conditions for growth for the future. ”
Rob Koremans
Chief Executive Officer
Key Results
We are at the forefront of life-enhancing and life-changing medicines.
2,341.6
Net Revenue (Million Euros)
+12.4% versus FY 2023
568.9
Adjusted Net income (Million Euros)
+8.4% versus FY 2023
865.8
EBITDA (Million Euros)
+12.5% versus FY 2023
Business
Succesful Acquisition of the Global Rights to Enjaymo®
We closed the year strongly with the acquisition in November of the global rights to Enjaymo® from Sanofi.
Our CEO Rob Koremans commented: “We are extremely pleased to add Enjaymo® to our Rare Diseases portfolio, reinforcing our commitment to addressing the needs of patients with significant medical needs and limited treatment options. This transaction is an excellent strategic fit with our existing business, with an attractive product profile and strong financial contributions expected to both the top and bottom lines. We are also thrilled to welcome talented new colleagues from Sanofi who are behind the success of Enjaymo®, and we are now focused on the swift and successful integration of the product into the organization.”
Sustainability
Responsible Growth Embedded in Our Strategy
In 2024, we continued to meet significant social and environmental targets, with People and Planet being the two core focus areas in our approach to sustainable growth.
Recordati’s focus and efforts in driving the group’s ESG strategy continued to be recognised by main ESG indices and ratings.
FTSE4GOOD
After the review in June 2024, the Recordati group was confirmed in the FTSE4Good Index Series.
MSCI ESG
MSCI ESG Research confirmed the Recordati group’s A rating in August 2024.
EcoVadis
In June 2024, EcoVadis awarded the Recordati group with a “Gold” medal, falling within the top 5% of companies with the highest score globally.
ISS ESG
In 2024 Recordati group was rated C+ with “prime” status, awarded to companies with a leading sustainability performance in their sector, by ISS ESG.
EURONEXT and BORSA ITALIANA
Recordati has been included in the MIB ESG Index, the first index promoted by Euronext and Borsa Italiana for Italian blue-chip companies demonstrating best ESG practices since October 2021.
CDP
Recordati scored B (Management level) in the 2024 CDP Climate Change questionnaire.
People
Launch of Our Global Diversity & Inclusion Network
In 2024, a Diversity & Inclusion network including around 60 champions across the world was set up to nurture this important culture pillar, with a first ambitious target to sign Diversity & Inclusion charters in all European countries in which we operate.
Patient Care
At Recordati, patients remain at the heart of everything we do.
Our approach towards patients is evident in the projects we initiated during 2024: the Patient Ambassador Group and the development of the Patient Community Charter, together with our patient community.
Product Pipeline & Future Developments
Our commitment to bring innovation forward for the benefit of patients
In 2024, Recordati invested € 286 million in research and development (this amount includes amortisation relating to products acquired or for which the Group is a licensee), + 11.8% compared to 2023 .