Slide 1: Financial Statements Release January-December 2023
Financial Statements Release January-December 2023 16 February 2024
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 • Q4 2023 highlights • Operating environment • Financial review • Strategic investment in ERP and warehouse management • Q&A 16 February 2024 | Q4 2024 3
Slide 4: Strong growth in profitability, FY
FY 23 Strong growth in profitability, excluding Swedish dose dispensing Net sales business in constant currency 1.6 (1.5) +2% • Strong progress in the distribution business throughout the year, growth 7.3% on constant currency basis EUR billion • Net sales grew by 2% to EUR 1.6 billion on constant c
Slide 5: Board's dividend proposal
Board’s dividend proposal Dividend payout EUR per share The Board of Directors proposes to the AGM that a EPS dividend of EUR 0.07 per share be paid for 2023. 0.09 DPS Record date: 21 March 0.07 0.06 0.06 0.06 Payment date: 11 April 0.04 0.04 0.03 DIVIDEND POLICY Oriola aims to pay out an increasing
Slide 6: Operating environment
Operating environment • Market value continued a steady growth in both countries. • In the fourth quarter, volumes in the pharmaceutical distribution market in Sweden grew while volumes in Finland declined. • Solid underlying long-term market drivers such as ageing population, wellbeing and health r
Slide 7: Pharmaceutical distribution markets grew in value in 2023
Pharmaceutical distribution markets grew in value in 2023 Pharmaceutical wholesale – market share Dose dispensing – market share Sweden Finland Finland 44% (45%) 44% (44%) 28% (30%) 60 3 ~110 000 BSEK BEUR Nr. of patients +9.8% +3.4% 56% 56% 72% Oriola Others Market shares are year-to-date and marke
Slide 8: Financial review
& Oriola Financial review
Slide 9: Q4: Strong end to the year
Q4: Strong end to the year Invoicing Q4 EUR million Net sales Q4 EUR million Adjusted EBIT Q4 EUR million In constant currency: In constant currency: Adj EBIT excl Dose Sweden +10% +5% +266% EUR 995 million EUR 398 million EUR 6.2 (1.7) million +6% +2% 942 963 386 380 387 6.6 872 876 907 345 362 5.4
Slide 10: FY23: Solid performance throughout the year
FY23: Solid performance throughout the year Invoicing FY23 EUR million Net sales FY23 EUR million Adjusted EBIT FY23 EUR million In constant currency: In constant currency: Adj EBIT excl Dose Sweden +6% +2% +64% EUR 3 770 million EUR 1 569 million EUR 19.5 (11.9) million +1% -3% 3 507 3 568 3 588 1
Slide 11: 2023: Strong performance by Distribution
2023: Strong performance by Distribution Adjusted EBIT FY23 EUR million Preliminary, unaudited figures 19.5 1.6 -2.8 Adj. EBIT 16.7 in constant currency 2.4 FY 23 EUR 17.1 million 3.5 11.9 2022 excl. Distribution Wholesale Group items 2023 excl. Dose Sweden 2023 incl. Dose Sweden Dose Sweden Dose Sw
Slide 12: Profit and EPS increased
Profit and EPS increased Profit for the period Earnings per share EUR million EUR 2021 2022 2023 2021 2022 2023 5.5 4.3 5.3 3.8 2.1 1.1 0.03 0.03 0.7 1.2 0.02 0.02 0.010.01 0.01 0.00 0.00 -0.2 -2.8 -0.02 -8.1 -0.04 FY 23 FY 23 Adjusted profit EPS EUR -0.11 EUR 1.1 million Adjusted EPS EUR 0.01 -20.2
Slide 13: Positive cash flow in Q4
Positive cash flow in Q4 Quarterly net cash flow from operating activities1 2023 change in cash EUR million EUR million 2021 2022 2023 Dividend payment of EUR 10.9 million in April -3.5 -28.3 9.6 39 42 36 29 28 19 23 10 160.6 138.4 -14 -16 -26 -43 Q1 Q2 Q3 Q4 Cash 31 Operating Investing Financing Ca
Slide 14: Net debt on a low level
Net debt on a low level Net interest-bearing debt1 Net interest-bearing debt items EUR million EUR million 2021 2022 2023 Net interest-bearing debt item 31 Dec 2023 31 Dec 2022 Bank loans 59.1 61.1 (syndicated Bank & term) Commercial papers 39.3 49.8 Advance payment from pharmacies 10.4 11.8 149 136
Slide 15: Financial position remained strong
Financial position remained strong Equity ratio1 % Gearing1,2 % 2021 2022 2023 2021 2022 2023 94.7 23.8 22.8 21.2 21.8 19.8 19.9 20.1 19.1 19.3 18.5 18.0 64.1 14.1 53.8 46.5 15.5 8.3 8.7 4.5 Q1 Q2 Q3 Q4 -0.9 -4.6 -10.5 -12.1 Q1 Q2 Q3 Q4 12021 includes discontinued operations 22021 includes discontin
Slide 16: Kronans Apotek
Kronans Apotek (Swedish Pharmacy Holding) 2023 2022 Change 2023 2022 Change Key figures, EUR million 10-12 10-12 % 1-12 1-12 % Net sales 283.5 276.7 2.4 1,126.9 1,158.2 -2.7 EBITA -6.5 -1.3 -407.3 0.7 EBITA % -2.3 -0.4 0.1 Adjusted EBIT -5.1 -2.8 -78.8 -2.0 Adjusted EBIT % -1.8 -1.0 -0.2 Net interes
Slide 17: Sale of Svensk dos AB
Sale of Svensk dos AB • The agreement to sell all shares in Svensk dos AB to Apotekstjänst Sverige AB was signed in October • Oriola is exiting the dose dispensing business in Sweden • The agreed sales price in cash is SEK 110 million (approximately EUR 9.5 million). • The transaction is subject to
Slide 18: New reporting segments as of 1 Jan 2024
New reporting segments as of 1 Jan 2024 Oriola is updating its segment reporting to reflect the new strategy and to improve transparency. Oriola’s two reporting segments as of 1 January 2024 will be: Preliminary, unaudited figures for 2023 Segment name Definition including dose dispensing business i
Slide 19: Outlook 2024
Outlook 2024 In 2024, the pharmaceutical distribution market is expected to continue to grow. A continuation of a weak consumer confidence might impact the wholesale market development. The recent overall inflationary environment and related cost pressures may have an impact on Oriola’s profitabilit
Slide 20: Strategic investment in ERP and warehouse management
Strategic investment in ERP and warehouse management
Slide 21: Sustainability goals
v \ SUSTAINABILITY Safeguarding GOALS deliveries for health and wellbeing Advancing a sustainable Pursuing people a net-zero journey impact on Ontine pharmaceuticals and digitalisation &, aa ee "eg ng, iS “oi 16 February 2024 | Q4 2024
Slide 22: Strategic investment in ERP and warehouse management
Strategic investment in ERP and warehouse management • The investment comprises the renewal of Oriola’s ERP (enterprise resource planning) and warehouse management during the years 2025−2027. • The aim of the project is to have one common system which will enable to harmonise business processes, str
Slide 23: Key takeaways
Key takeaways Solid ending to the year with strong growth 1 in profitability driven by distribution business. 2 Board’s dividend proposal EUR 0.07 per share. For 2024, we expect adjusted EBIT to increase from 3 previous year’s level (EUR 19.5 million). 16 February 2024 | Q4 2024 23
Slide 24: Our next events / Thank you!
Our next events week 9 Annual Report 2023 19 March 2024 Annual General Meeting 25 April 2024 Q1 Interim Report Thank you! 16 February 2024 | Q4 2024
Slide 25: 16 February 2024 | Q4 2024
16 February 2024 | Q4 2024 25