Pharmaceutical company Orion’s operating profit last year was just under 275 million euros. The result fell by more than 37 percent in the second half of the year.
The company’s turnover last year also dropped by about 11 percent from the previous year and was just under 1.2 billion euros.
The company’s CEO Liisa Hurmeen according to the invoice is explained by a large one-time installment recorded in the previous year.
“The decrease is explained by the significant advance payment of 228 million euros recorded in the comparison period,” says Hurme in Orion’s stock exchange release.
“Both last year’s turnover and operating profit increased slightly when we do not take into account the advance payment in question and its 208 million euro net effect on the 2022 result.”
Hurme continues that, in addition, the amount of a good 30 million euros related to the transfer of the insurance portfolio of Orion Pension Foundation’s section B weighed on the company’s result last year.
Orion’s the result of the last quarter of the year was already considerably more positive.
In October–December, the company made an operating profit of around EUR 93 million, which was more than twice as much as a year earlier. Orion’s net sales at the end of the year also increased by around nine percent from a year ago and was around EUR 321 million.
Fair react to the news of the pharmaceutical company’s earnings negatively in any case. Orion’s share price was down by more than seven percent on the Helsinki Stock Exchange since the beginning of the afternoon.
Orion’s board proposes to pay a dividend of EUR 1.62 per share for last year. The dividend is proposed to be paid in two installments.
The company expects the turnover for the year that has started to be around 1.3–1.4 billion euros. Orion estimates the operating profit for the year to be 270–310 million euros.