Slide 1: Financial Statements Release 2025
Financial Statements Release 2025 25 February 2026
Slide 2: Disclaimer
Disclaimer The following applies to this presentation, the oral presentation of the information in this presentation by Oriola Corporation (the “Company” or “Oriola”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “In
Slide 3: Agenda
Agenda 1 FY 2025 highlights 2 Operating environment 3 Segments 4 Financial review Q&A 25 FEBRUARY 2026
Slide 4: Steady progress in adjusted EBITDA and strategic priorities
Steady progress in adjusted EBITDA and strategic priorities • Reinforced customer focus – strengthening partnerships, onboarding new customers and expanding our value-adding services and product FY 25 portfolio. Net sales • Stronger supply chain with expanded capacity in Sweden, successful vaccine s
Slide 5: Operating environment
Operating environment • No major changes in operation environment. • Value of the pharmaceutical distribution market grew in Sweden, modest growth in Finland. • Consumer confidence weak in Finland and Sweden. 25 FEBRUARY 2026
Slide 6: Q4: Distribution segment
Q4: Distribution segment • Net sales grew 11% to EUR 402 • In 2025, strategic focus on customer (362) million. centricity and strong partnerships. • Growing sales from the existing • All-time high Net Promoter Score portfolio, new customers, an increase (NPS). in value-adding services, higher • Enga
Slide 7: Q4: Wholesale segment
Q4: Wholesale segment • Net sales grew 26% to EUR 100 (79) • In 2025, expansion of wholesale offering million. based on customer needs, new listings • Growth driven by wholesale business in secured and own brands such as Dexal Sweden, strong performance in parallel and Apteekkari renewed. import. •
Slide 8: Modernisation of Finnish operations with a highly automated distribution centre in Järvenpää
Modernisation of Finnish operations with a highly automated, state-of-the-art distribution centre in Järvenpää • Strategic investment that strengthens Oriola’s ability to meet evolving customer and market requirements, drive future growth, and improve profitability. • New distribution centre with a
Slide 9: Flexible, modular infrastructure enabling automation and future business expansion
Flexible, modular infrastructure enabling automation and future business expansion +80% +2-3X +25% +2X 50% Cold storage Modular, flexible, packs/h Level of automation More energy capacity scalable for the efficient future Capacity per hour Leveraging automation, Cold chain continues to advanced robo
Slide 10: Financial review
Financial review 25 FEBRUARY 2026
Slide 11: Invoicing and net sales
Invoicing and net sales Invoicing and net sales EUR million 4,201 Invoicing 3,772 Invoicing 10-12 2025 1,110 +11% • Invoicing and net sales growth was driven by both Distribution and 984 Wholesale segments. +13% 1-12 2025 • Invoicing and net sales growth was driven by both Distribution and Wholesale
Slide 12: Sales margin
Sales margin Sales margin EUR million +4% 166.8 159.8 10-12 2025 +2% • Sales margin improvement of 2% driven by both Distribution and Wholesale segments. 42.2 42.4 43.3 39.7 41.3 40.0 40.0 37.7 1-12 2025 • Sales margin improvement of 4% driven by both Distribution and Wholesale segments. Q1 Q2 Q3 Q4
Slide 13: EBITDA
EBITDA Adjusted EBITDA EUR million 35.1 33.4 10-12 2025 • Adjusting items totalled EUR -4.1 (-2.4) million, including EUR -3.3 6.2 million implementation cost related to ERP investment, EUR -0.4 14.8 million costs related to the feasibility study of logistics operations in 9.4 9.9 Finland and EUR -0
Slide 14: Q4: Distribution segment
Q4: Distribution segment Invoicing and net sales EUR million Adjusted EBITDA* EUR million 3,827 Invoicing 3,457 Invoicing 1,010 905 +11% 8.8 8.1 32.6 +11% 27.6 +10% +18% +12% +11% 402 Net sales 1,365 1,532 Net sales 362 Q4 24 Q4 25 YTD 24 YTD 25 Q4 24 Q4 25 YTD 24 YTD 25 10-12 2025 10-12 2025 • Invo
Slide 15: Q4: Wholesale segment
Q4: Wholesale segment Net sales EUR million Adjusted EBITDA EUR million 374.8 315.6 99.9 +19% 79.1 12.5 10.3 +26% 2.8 -17% 2.7 2% Q4 24 Q4 25 YTD 24 YTD 25 Q4 24 Q4 25 YTD 24 YTD 25 10-12 2025 10-12 2025 • Net sales grew by 26% to EUR 99.9 million • Adjusted EBITDA at last year’s level. • In Sweden
Slide 16: Profit burdened by ERP project cost and impairment related to Kronans Apotek and Svensk Dos
Profit burdened by cost related to the ERP project and impairment related to Kronans Apotek and the sale of Svensk Dos Net profit EUR million 20.3 1-12 2025 2025 -17.7 2.6 • EBITDA below last year due to higher adjusting 1-12 -6.6 items. • Adjusting items in EBITDA totalled MEUR -14.8 -22.8 (-6.2) a
Slide 17: Positive free cash flow
Positive free cash flow Free cash flow EUR million 1-12 2025 1-12 1-12 Abs. • EBITDA below last year due to higher adjusting EUR million 2025 2024 change items. EBITDA 20.3 27.2 -6.9 • Increase in trade payables has impacted working capital positively. Adjustments 4.4 0.5 4.0 • Taxes and investments
Slide 18: Net debt on a low level
Net debt on a low level Net interest-bearing debt EUR million Net interest-bearing debt items 30 Dec 30 Dec Abs. EUR million 2025 2024 change Bank loans (syndicated bank & term) 30.0 31.0 -1.0 -9 -7 -13 Commercial papers 19.9 24.8 -4.9 -21 Advance payment from pharmacies 8.3 7.9 0.4 -37 -37 Lease li
Slide 19: Solid financial position
Solid financial position Gearing1 and equity ratio % Gearing Equity ratio 1-12 2025 19 17 17 18 • The impairment and write- 15 14 13 13 11 down in Dose Sweden, adjusting items (mainly ERP) and the negative -6 -5 result from Kronans Apotek -8 -12 had a negative impact on the net result and the -28 -3
Slide 20: Kronans Apotek (Swedish Pharmacy Holding)
Kronans Apotek (Swedish Pharmacy Holding) 2025 2024 Change 2025 2024 Change Key figures EUR million 10-12 10-12 % 1-12 1-12 % Net sales 312.4 288.2 8.4 1,223.1 1,151.1 6.3 EBITA -5.4 -4.6 -17.7 -4.4 -5.9 26.1 EBIT -39.3 -39.4 0.3 -45.0 -47.3 4.8 Adjusted EBIT -6.4 -5.1 -23.9 -7.4 -8.0 7.5 Adjusted E
Slide 21: Outlook
Outlook In 2026, the pharmaceutical distribution market is expected to continue to grow. Value growth is expected to be driven by high-value pharmaceuticals and products requiring advanced logistics. The uncertainty in the geopolitical environment remains, and the availability issues of certain phar
Slide 22: Review of long-term plan, financial targets and capital allocation framework
Review of long-term plan, financial targets and capital allocation framework Oriola is further advancing and clarifying its long-term plan, to support growth and drive profitability, and establishing capital allocation framework to enhance shareholder value creation. Oriola’s long-term plan and capi
Slide 23: Board's dividend proposal
Board’s dividend proposal Dividend payout EUR per share The Board of Directors proposes to the AGM that EPS DPS Authorisation a dividend of EUR 0.03 per share be paid for 0.07 0.07 2025. 0.06 0.06 0.04 0.04 0.03 Record date: 27 March 2026 Payment date: 15 April 2026 -0.01 Dividend policy -0.11 -0.11
Slide 24: FY 25 Key takeaways
FY 25 Key takeaways Steady progress in line Stronger customer focus, with our expectations, Improved operational improved customer second half particularly efficiency on all sites satisfaction (NPS) strong 25 FEBRUARY 2026
Slide 25: Our next events - Thank you for joining us today!
Our next events 25 March 2026 Annual General Meeting 29 April 2026 Q1 2026 report 12 May 2026 Capital Markets Day Thank you for joining us today!
Slide 26: Health for life
Health for life