• ​Operating revenue in the first half of 2025 was 314.6 million euros, a 4% decrease on the first half of 2024, mainly due to the performance of the contract development and manufacturing business ("CDMO"). However, sales of the specialty pharmaceutical business increased 13% to 237.4 million euros in the first half of 2025.
• 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 third quarter of 2025, the Company plans to book the revenue relating to the expenses incurred from January 2023 to September 2025 and collect the entire amount awarded, once the administrative procedures required by the awarding body have been completed.
• Okedi® (Risperidone ISM®) continued its strong growth, reaching total sales of 26.9 million euros in the first half of 2025. This represents a 115% increase on the first half of 2024 and a 14% rise compared to the first quarter of 2025.
• Sales of the heparin franchise (low-molecular-weight heparins (LMWH) and other heparins) increased by 12% to 135.2 million euros in the first half of 2025, mostly due to an increase in orders from partners during the first half of the year. Enoxaparin was the main contributor to the growth of the division, with sales rising 14% to 79.8 million euros due to stronger international sales in the first six months of the year. In addition, bemiparin sales also increased by 9% to 51.5 million euros in the first half of 2025 compared to the first half of 2024. This rise was driven by Bemiparin international sales which increased by 38% in the period.
• Good performance of Neparvis®, sales of which increased by 11% in the first half of 2025 compared to the first half of 2024, rising to 27.7 million euros.
• Gross margin was 62.4% in the first half of 2025, an increase of 3.0 percentage points on the first half of 2024. This increase was mainly due to: (i) the increased contribution of Okedi® sales, which added high margins; (ii) the decrease in LMWH raw material prices, which had a positive impact on gross margin; and (iii) the residual contribution to the CDMO business of revenue related to the activities carried out to prepare the plant for production of the vaccine under the agreement with Moderna in the first half of 2025 compared to the first half of 2024, which added lower margins to Group sales.
• EBITDA decreased by 6% to 65.6 million euros in the first half of 2025 in comparison to the first half of 2024, as a result of the increase in R&D expenses. Recognizing the same amount of R&D expenses in the first half of 2025 as in the same period of 2024, EBITDA would have increased by 0.5% to 70.2 million euros, reflecting a 1.1 percentage point increase in the EBITDA margin to 22.3% in the first half of 2025, up from 21.2% in the same period of 2024.
• Net profit amounted to 39.7 million euros in the first half of 2025.
• The ROVI General Shareholders Meeting, held on 18 June 2025, approved the payment of a gross dividend of 0.9351 euros per share; which represents approximately a 35% pay-out. This dividend was paid on 16 July 2025.

OUTLOOK
For 2025, ROVI expects its operating revenue to decrease by a mid-single-digit percentage in comparison with 2024. Notwithstanding, this guidance is calculated using certain factors that, although they could be relevant to the estimates, are difficult to specify at the present time, such as how the demand and production might evolve for the vaccination campaigns that will take place in 2025.