Rovi Controls Close to 4% in Treasury Stock After Five Months of its Buyback Program

The pharmaceutical company Rovi has reached a 3.922% stake in treasury shares, which represents an increase of 1.007% compared to the last data communicated by the company in mid-November, as notified to the National Securities Market Commission (CNMV).

Thus, Rovi currently controls a package of slightly more than 2.1 million shares, which according to market prices, around the mid-session this Friday, would have a value of almost €126 million, since the share was listed at €59. 45, with an increase of 0.76%.

Last July, the company announced a share buyback program that started on the 26th of that same month, with an expected duration of 12 months. This operation has the purpose of redeeming own shares for a maximum amount of €130 million, with the maximum number of securities to be acquired (2.7 million) representing 5% of the share capital. The pharmacist explained that with this program she intended to contribute to shareholder remuneration by increasing profit per share.

Read more about Rovi and its buyback program, and find the latest financial news of the day with the Born2Invest mobile app.

The Spanish pharmaceutical company Rovi decreased its profit by 17% in the first half of 2023

The Spanish pharmaceutical company decreased its profit by 17% in the first half of 2023, reaching €66.6 million, compared to €80.6 million in the same period last year.

The company has noticed the drop in business when the pandemic subsided, given that it manufactured the vaccine for the American biotechnology company Moderna. On the other hand, the gross operating result (Ebitda) reached €97.1 million in the first half of 2023, 16% less than in the first six months of 2022. Operating income was €380.8 million in the first semester, 0.1% lower than the first semester of last year.

Rovi has updated its forecasts for the second half of 2023 where it estimates that its operating income will decrease by up to a maximum of 10% compared to last year. In addition, it plans to continue with its investment policy and indicates that the results may be adjusted.

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(Featured image by geralt via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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