Orion Oyj Class A · OMXHEX:ORNAV
Orion Oyj Class A — Q3 2021 Earnings Presentation
33 slides from Orion Oyj Class A's earnings presentation, Oct 20, 2021
Slide 1: Orion Interim Report 1−9/2021
Orion Interim Report 1−9/2021
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which involve risks and uncertainty factors. These statements are not based on historical facts but relate to the Company’s future activities and performance. They include statements about future strategies and anticipated benefits of
Slide 3: Highlights in January−September 2021
Highlights in January−September 2021
Slide 4: Operations shift towards normal, while pandemic impacts are still visible
Operations shift towards normal, while pandemic impacts are still visible Net sales & • Milestones EUR 2 (37) million operating profit • Nubeqa® sales booked by Orion showed strong growth • Operating costs still at a lower level than usual • Demand for many products is recovering • Orion receives sa
Slide 5: Key figures 1−9/2021
Key figures 1−9/2021 Net sales Operating profit Operating profit Cash flow per share margin before financial items 765 203 27% 1.15 MEUR (823) MEUR (246) (30%) EUR (1.38) -7% -17% -17% Interim Report 1−9/2021 © Orion Corporation 20 October 2021 5
Slide 6: Development of net sales in 1−9/2021 vs. 1−9/2020
Development of net sales in 1−9/2021 vs. 1−9/2020 823 -14 15 -6 5 -5 -16 -1 -36 765 * Nubeqa® product sales & royalty ** Proprietary Products and Specialty Products *** Animal Health, Fermion and Contract Manufacturing **** Without Nubeqa® royalties The figures in the chart are rounded, which is why
Slide 7: Development of operating profit in 1−9/2021 vs. 1−9/2020
Development of operating profit in 1−9/2021 vs. 1−9/2020 246 -13 -22 1 22 -32 203 2 * Product & service sales without sales margin and product mix change and exchange rate effect *** Exchange rate effect on gross margin ** Product sales margin and product mix change but without exchange rate effect
Slide 8: Geographical breakdown and development of net sales
Geographical breakdown and development of net sales 1−9/2021 MEUR 1−9/2021 1−9/2020 13% 350 30% -6% 8% 300 -1% 250 281 263 200 230 233 -22% -6% 150 -5% 100 134 14% 35% 105 102 109 50 63 67 Finland Scandinavia 0 Other Europe North America RoW RoW = Rest of the World Interim Report 1−9/2021 © Orion Co
Slide 9: Milestones, generic competition and the ending of Animal Health distribution agreement headwinds for revenue
Milestones, generic competition and the ending of Animal Health distribution agreement headwinds for revenue 1−9/2021 1−9/2020 1−9/2021 MEUR -1% -13% 7% 400 368 372 7% 350 331 287 300 38% 250 200 -23% -1% 150 48% 100 53 69 55 56 50 Proprietary Products 0 Specialty Products Specialty Proprietary Anim
Slide 10: TOP 10 products in 1−9/2021
TOP 10 products in 1−9/2021 EUR million vs. 1−9/2020 1. Easyhaler® product portfolio 83 -5 % 2. Stalevo®, Comtess®, Comtan® 74 -8 % 3. Simdax® 43 -13 % 4. dexdor® 27 -34 % 5. Dexdomitor®, Domitor®, Domosedan®, Antisedan® 27 -8 % 6. Nubeqa® 26 +139 % 7. Divina® series 17 +7 % 8. Burana® 17 -4 % 9. Bi
Slide 11: Proprietary Products
Proprietary Products 6 RION ing well-being Buildi
Slide 12: Nubeqa® continues to grow strongly as expected
Nubeqa® continues to grow strongly as expected Proprietary Products MEUR -5% -8% sales split 1−9/2021 100 88 12% 90 83 80 -45% 80 74 26% -13% -34% 9% 70 62 60 49 +139% 50 43 41 40 34 30 27 26 15% 20 11 10 9% 29% 0 Easyhaler® Parkinson's Simdax® Dexdor® Nubeqa® Others* portfolio franchise Parkinson's
Slide 13: Nubeqa® sales booked by Orion showing strong growth
Nubeqa® sales* booked by Orion showing strong growth 1−9/2021 Nubeqa® MEUR 26 (11) +139 % 15 10 MEUR 5 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2021 * Orion’s sales to Bayer for commercial use + royalties from Bayer Interim Report 1−9/2021 © Orion Corporation 20 October 2021 13
Slide 14: Easyhaler® product portfolio sales -5%
Easyhaler® product portfolio sales -5% 1−9/2021 Budesonide-formoterol Easyhaler® MEUR 52 (55) -5% 40 1−9/2021 Other Easyhaler® products MEUR 31 (33) -6% 35 30 Sales, MEUR 25 20 15 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 Other Budesonide-formoterol
Slide 15: Sales of Parkinson's franchise -8%
Sales of Parkinson's franchise -8% 1−9/2021 Own sales MEUR 40 (37) +9% 40 35 1−9/2021 Deliveries to partners MEUR 34 (44) -23% 30 Sales, MEUR 25 20 15 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 Orion own sales Deliveries to partners Interim Report 1−9
Slide 16: Dexdor® and Simdax® - impact of generic competition starting to show
Dexdor® and Simdax® - impact of generic competition starting to show 1−9/2021 Dexdor® MEUR 27 (41) -34% 1−9/2021 Simdax® MEUR 43 (49) -13% 20 20 15 15 10 10 5 5 0 0 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Interim Report 1−9/2021 © Orion Corporation 20 October 2021 16
Slide 17: Specialty Products
Specialty Products
Slide 18: Good development in Eastern Europe and Russia
Good development in Eastern Europe and Russia -1% MEUR Sales split 1−9/2021 250 202 205 13% 200 150 -6% 16% +17% -11% 100 57 61 61 52 48 54 55% 50 0 16% Finland Scandinavia Eastern RoW Europe & Finland Russia Scandinavia Eastern Europe & Russia 1−9/2021 1−9/2020 Rest of the World (RoW) Interim Repor
Slide 19: Demand of self care products recovering
Demand of self care products recovering MEUR -2% Sales split 1−9/2021 300 276 281 250 25% 200 +1% 150 92 90 100 50 0 75% Generic Self Care products prescription drugs Generic drugs Self-care products 1−9/2021 1−9/2020 Interim Report 1−9/2021 © Orion Corporation 20 October 2021 19
Slide 20: In Finland, Orion's reference priced prescription drugs developed clearly better than the market
In Finland, Orion’s reference priced prescription drugs developed clearly better than the market The market for reference priced prescription drugs in Finland* The sales of Orion's reference (1−9/2021) priced prescription drugs in Finland MEUR 325 (341) MEUR 79 (76) Market development Orion’s develo
Slide 21: Orion is strong in home market Finland
Orion is strong in home market Finland Human pharma market in Finland 1−9/2021 Reference Self-care Medicinal and non-medicinal products priced products in hospital and pharmacy channels: EUR 2,171 million prescription Orion market share in MEUR drugs pharmacy 250 236 Orion market share in 200 75 pha
Slide 22: Research and development
Research and development
Slide 23: Key clinical development pipeline
Key clinical development pipeline Project/compound Indication Phase I Phase II Phase III Registration ARASENS / darolutamide 1 Prostate cancer (mHSPC) Phase I Phase II Phase III ARANOTE / darolutamide 1 Prostate cancer (mHSPC) Phase I Phase II Phase III ODM-208 Prostate cancer (CRPC) Phase I Phase I
Slide 24: Key business targets in 2021
Key business targets in 2021 STATUS on TARGET 30 Sep 2021 Supporting sales growth and co-promotion in Europe with Bayer Positive outcome from Phase III ARASENS trial Taking phase III ARANOTE trial forward together with Bayer Sales growth ODM-208 Taking the development program forward according to pl
Slide 25: Orion's Sustainability Agenda
Orion’s Sustainability Agenda Patient safety as a Active work for a Care for well-being Ethics at the core top priority better environment professionals of our business We want to be the We want to take care of We maintain strict ethical Patient safety has been a environmental leaders in our Orionee
Slide 26: Outlook
Outlook ORION Building well-being
Slide 27: Outlook for 2021 (specified)
Outlook for 2021 (specified) Net sales Orion estimates that in 2021 net sales will be slightly lower than in 2020 (net sales in 2020 were EUR 1,078 million). Operating profit Operating profit is estimated to be lower than in 2020 (in 2020 operating profit was EUR 280 million). Interim Report 1−9/202
Slide 28: Key assumptions behind the outlook
Key assumptions behind the outlook Net sales Operating profit + Nubeqa® + Nubeqa® + Other growing products + No more depreciation expenses from Parkinson’s franchise - Milestones - Milestones - dexdor® - dexdor® - Simdax® - Simdax® - Animal Health Interim Report 1−9/2021 © Orion Corporation 20 Octob
Slide 29: Upcoming events
Upcoming events Financial Statement Release for 2021 10/2/2022 AGM planned to be held 23/3/2022 Interim Report 1-3/2022 28/4/2022 Half-Year Financial Report 15/7/2022 Interim Report 1-9/2022 20/10/2022
Slide 30: Building well-being
Building well-being GRIoN Building well-being
Slide 31: Appendix
Appendix GRIoN Building well-being
Slide 32: Net sales and operating profit by quarter (MEUR)
Net sales and operating profit by quarter (MEUR) Net sales Operating profit 350 120 300 100 250 80 200 60 150 40 100 50 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Interim Report 1−9/2021 © Orion Corporation 20 October 2021 32
Slide 33: Quarterly net sales by unit (MEUR)
Quarterly net sales by unit (MEUR) Proprietary Products Specialty Products 150 150 100 100 50 50 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Animal Health Fermion & Contract Manufacturing 30 30 20 20 10 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 20