Slide 1: Interim Report January-September 2025
Interim Report January- September 2025 30 October 2025
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 Q3 2025 highlights 2 Operating environment 3 Segments 4 Financial review Q&A 30 OCTOBER 2025
Slide 4: Sales margin growth and improved adjusted EBITDA
Sales margin growth and improved adjusted EBITDA • Net sales and sales margin growth supported by both segments. • High volumes partly by earlier vaccine deliveries. Resulting in Q3 25 increased sales margin and operating expenses towards the end of the Net sales quarter. 463 (424) +9% • Supply chai
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. 30 OCTOBER 2025
Slide 6: Q3: Distribution segment
Q3: Distribution segment • Net sales grew 6% to EUR 373 (351) • Strategic focus on customer centricity million. and strong partnerships. • Volume growth across existing • Customer satisfaction continued to portfolio and new customers. improve. • Earlier vaccine deliveries in Sweden • Retained all ex
Slide 7: Q3: Wholesale segment
Q3: Wholesale segment • Net sales grew 23% to EUR 91 (74) • Focus in Advisory on new customer million. acquisition, and on building a partner • Growth in Sweden supported by good network for EU-wide assignments. development in parallel import of • Apteekkarin – Oriola’s own health and weight-loss me
Slide 8: Financial review
Financial review 30 OCTOBER 2025
Slide 9: Invoicing and net sales
Invoicing and net sales Invoicing and net sales EUR million 1,019 Invoicing 3,091 Invoicing 7-9 2025 928 2,788 • Invoicing and net sales growth was driven by both Distribution and +10% +11% Wholesale segments. 1-9 2025 • Invoicing and net sales growth was driven by both Distribution and Wholesale se
Slide 10: Sales margin
Sales margin Sales margin EUR million +5% 123.6 117.3 7-9 2025 • Sales margin improvement of 6% driven by both Distribution and +6% Wholesale segments. 42.2 42.4 39.7 41.3 40.0 40.0 37.7 1-9 2025 • Sales margin improvement of 5% driven by the Distribution segment. Q1 Q2 Q3 Q4 YTD 24 YTD 25 2024 2025
Slide 11: EBITDA
EBITDA Adjusted EBITDA EUR million 25.2 24.1 7-9 2025 • Adjusting items totalled EUR -2.6 (-3.5) million, including EUR -1.7 3.9 million implementation cost related to ERP investment, EUR -0.9 10.7 million costs related to the feasibility study of logistics operations in 9.6 Finland. 8.4 • Improveme
Slide 12: Q3: Distribution segment
Q3: Distribution segment Invoicing and net sales EUR million Adjusted EBITDA* EUR million 928 Invoicing 2,817 Invoicing 854 2,552 +9% +10% 8.4 23.8 7.1 19.6 +17% +22% +6% +13% 351 373 Net sales 1,003 1,130 Net sales Q3 24 Q3 25 YTD 24 YTD 25 Q3 24 Q3 25 YTD 24 YTD 25 7-9 2025 7-9 2025 • Invoicing gr
Slide 13: Q3: Wholesale segment
Q3: Wholesale segment Net sales EUR million Adjusted EBITDA EUR million 90.6 274.9 236.5 73.8 9.7 +16% +23% 7.5 3.1 3.1 -23% -1% Q3 24 Q3 25 YTD 24 YTD 25 Q3 24 Q3 25 YTD 24 YTD 25 7-9 2025 7-9 2025 • Net sales grew by 23% to EUR 91 million • Adjusted EBITDA at last year’s level. • Growth driven by
Slide 14: Profit burdened by cost related to the ERP project and impairment related to the sale of Svensk Dos
Profit burdened by cost related to the ERP project and impairment related to the sale of Svensk Dos Net profit EUR million 14.5 1-9 2025 2025 • EBITDA below last year due to higher adjusting 1-9 -14.7 items. • Adjusting items totalled MEUR -10.7 (-3.9) and -0.2 -4.6 included MEUR -6.2 implementation
Slide 15: Positive free cash flow
Positive free cash flow Free cash flow EUR million 1-9 2025 1-9 1-9 Abs. • EBITDA below last year due to higher adjusting EUR million 2025 2024 change items. EBITDA 14.5 20.2 -5.7 • Increase in trade payables has impacted working capital positively. Adjustments 2.4 -0.1 2.5 • Taxes at last year’s le
Slide 16: Net debt on a low level
Net debt on a low level Net interest-bearing debt EUR million Net interest-bearing debt items 30 Sep 30 Sep Abs. EUR million 2025 2024 change Bank loans (syndicated bank & term) 30.0 31.0 -1.0 -2 -9 -7 -12 Commercial papers 17.9 24.9 -7.0 -21 Advance payment from pharmacies 10.9 13.7 -2.9 Lease liab
Slide 17: Solid financial position
Solid financial position Gearing1 and equity ratio % Gearing Equity ratio 1-9 2025 19 19 • The impairment and write- 17 17 18 15 14 down in Dose Sweden, 13 13 adjusting items (mainly ERP) and the negative result from Kronans Apotek -1 had a negative impact on -6 -5 the net result and the -8 -12 equi
Slide 18: Kronans Apotek (Swedish Pharmacy Holding)
Kronans Apotek (Swedish Pharmacy Holding) 2025 2024 Change 2025 2024 Change 2024 Key figures EUR million 7-9 7-9 % 1-9 1-9 % 1-12 Net sales 302.0 284.6 6.1 910.7 862.9 5.5 1,151.1 EBITA 2.7 2.5 10.7 1.0 -1.3 178.8 -5.9 EBITA % 0.9 0.9 0.1 -0.2 -0.5 Adjusted EBIT 2.1 1.8 17.4 -1.0 -2.9 64.1 -8.0 Adju
Slide 19: Outlook
Outlook In 2025, 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 20: Q3 25 Key takeaways
Q3 25 Key takeaways Solid Q3 results – sales and sales margin growth Focus for the rest of the year on sales and Y-o-y improvement in adjusted EBITDA sales margin growth, and to remain cost conscious 30 OCTOBER 2025
Slide 21: Our next event
Our next event 25 February 2026 Financial Statements Release 2025 Thank you for joining us!
Slide 22: Health for life