Slide 1: Half-Year Report January-June 2024
Half-Year Report January-June 2024 18 July 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 • Q2 2024 highlights • Operating environment • Segments • Financial review • Q&A Q2 2024 | 18 July 2024 3
Slide 4: Q2 24 Continued sales growth in both segments
Q2 24 Continued sales growth in both segments Net sales • Net sales growth driven by both Distribution and Wholesale 440 (389) +13% segments EUR million • Profitability improvement was supported by net sales growth, lower operating expenses, and lower freight costs. Adjusted EBIT excl. Dose Sweden 4
Slide 5: 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. • On 29 April, the Swedish Competition Authority (Konkurrensverket) announced its decision on prohibiting Oriola’s sale of Svensk dos AB to Apotekstjänst Sverige AB due to neg
Slide 6: Operating environment
Operating environment • Overall operating environment has stabilised, and consumer confidence has slightly improved. • Cost inflation has slowed down, with more stabilised energy and fuel prices. • The challenges in the availability of pharmaceuticals have continued in Europe. • Value of the pharmac
Slide 7: Pharmaceutical wholesale markets growing
Pharmaceutical wholesale markets growing Finland and Sweden markets combined Market shares Pharmaceutical distribution Consumer health Pharmaceutical distribution Sweden Market size EUR 8.5 billion 43% (45%) +6.3% CAGR 57% Finland Q2 market value growth Sweden +7.0% 45% (45%) Finland +3.8% 55% Dose
Slide 8: Distribution segment
Distribution segment Net sales EUR million +16% +16% • Net sales growth driven by value growth in 358 355 310 305 the pharmaceutical distribution market in Sweden and Finland • Profitability improved by 30% Excl. Dose Sweden • Lower cost base year-on-year Q2 23 Q2 24 Q2 23 Q2 24 • Profitability impr
Slide 9: Wholesale segment
Wholesale segment Net sales EUR million +3% • Growth on topline supported by wider 79 82 product portfolio in Sweden and growth in all customer segments • Move of clinical trials under the management of advisory services impacts net sales and EBIT positively Q2 23 Q2 24 • Long-term strategic goal to
Slide 10: Financial review
& Oniola Financial review
Slide 11: Solid development on topline
Solid development on topline Invoicing Q2 EUR million Net sales Q2 EUR million Adjusted EBIT Q2 EUR million In constant currency: In constant currency: Adj. EBIT excl. Dose Sweden +6% +13% +18% EUR 954 million EUR 441 million EUR 4.9 (4.2) million +13% +5% +53% 952 439 5.5 872 904 904 401 389 5.1 80
Slide 12: Continued sales growth in both segments
Continued sales growth in both segments Net sales by segment EUR million Adjusted EBIT by segment EUR million 439.4 436.1 2.3 3.3 5.1 4.9 0.2 0.2 4.2 0.7 -0.1 49.0 384.7 2023 Q2 DistributionWholesale Group 2024 Q2 Dose 2024 Q2 2023 Q2 DistributionWholesale Group 2024 Q2 Dose 2024 Q2 excl. Dose items
Slide 13: Profit and EPS increased
Profit and EPS increased Profit for the period Earnings per share EUR million EUR 2022 2023 2024 2022 2023 2024 5.5 5.3 2.1 1.1 0.03 0.03 1.2 2.0 0.01 0.01 0.01 0.01 -2.3 -2.8 -0.01 -0.02 -8.1 -0.04 Adjusting items Q2 24: EUR 0.5 million -20.21 -0.11 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1Q3 2023 includes impairm
Slide 14: Positive cash flow in Q2
Positive cash flow in Q2 Quarterly net cash flow from operating activities YTD 2024 change in cash EUR million EUR million 2022 2023 2024 -1.5 6.5 39 36 -57.2 29 19 18 23 10 138.4 -11 86.2 -26 -43 Q1 Q2 Q3 Q4 Cash 31 Operating Investing Financing Cash 30 Dec 2023 activities activities activities Jun
Slide 15: Net debt on a low level
Net debt on a low level Net interest-bearing debt Net interest-bearing debt items EUR million EUR million 2022 2023 2024 Interest-bearing debt down EUR 63 million Net interest-bearing debt item 30 Jun 2024 30 Jun 2023 from Q2 23 Bank loans 32.0 58.6 (syndicated Bank & term) 36 Commercial papers 19.8
Slide 16: Financial position remained strong
Financial position remained strong Equity ratio % Gearing1 % 2022 2023 2024 2022 2023 2024 15.5 23.8 22.8 21.2 21.8 19.1 19.8 19.3 18.5 8.7 17.3 17.2 8.3 4.5 -0.9 -4.6 -6.2 -8.1 Q1 Q2 Q3 Q4 -10.5 -12.1 Q1 Q2 Q3 Q4 1Excluding the impact of IFRS 16 gearing would have been -13.2% (-0.8%) Q2 2024 | 18 J
Slide 17: Kronans Apotek
Kronans Apotek (Swedish Pharmacy Holding) Key figures, EUR 2024 2023 Change 2024 2023 Change 2023 million 4-6 4-6 % 1-6 1-6 % 1-12 Net sales 291.9 288.7 1.1 578.3 568.4 1.7 1,126.9 EBITA 0.6 3.6 -83.7 -3.8 5.3 -170.9 0.7 EBITA % 0.2 1.3 -0.7 0.9 0.1 Adjusted EBIT 0.3 2.3 -84.9 -4.6 2.3 -303.6 -2.0 A
Slide 18: 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 19: Q2 24 Key takeaways
Q2 24 Continued sales growth in both segments Key takeaways Improved profitability of underlying business Solid financial position Q2 2024 | 18 July 2024 19
Slide 20: Thank you for joining us!
Our next event 30 October 2024 Q3 Interim Report Thank you for joining us! Q2 2024 | 18 July 2024
Slide 21: Q2 2024 | 18 July 2024
Oe ; Q2 2024 | 18 July 2024