Slide 1: Interim Report January–March 2023
Interim Report January–March 2023 27 April 2023
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 • Q1 2023 highlights • Operating environment • Financial review • Closing remarks • Q&A 27 April 2023 | Q1 2023 3
Slide 4: Solid first quarter – stable net sales in constant currency, profitability in line with expectations
Solid first quarter – stable net sales in constant currency, profitability in line with our expectations Net sales in constant currency • Good development in the Distribution of pharmaceuticals, especially in Finland 370 • Lower import of parallel medicine impacted volumes in Sweden EUR million • Pr
Slide 5: Operating environment
Operating environment • Increased economic uncertainty did not impact the pharmaceutical market • Overall good market demand continued in Sweden and Finland • Availability of some pharmaceuticals still impacted by tight raw material supply • Consumer confidence has weakened • Energy and fuel prices
Slide 6: Pharmaceutical wholesale markets grew in Q1
Pharmaceutical wholesale markets grew in Q1 Pharmaceutical wholesale – market share Dose dispensing – market share Sweden Finland Sweden Finland 43% (45%) 44% (44%) 14% (42%) 28% (31%) 56 3 ~260 000 ~100 000 BSEK BEUR Nr. of patients Nr. of patients +10.2% +4.3% 57% 56% 86% 72% Oriola Others Market
Slide 7: Financial review
& Oriola Financial review
Slide 8: Solid start to the year, significant currency impact on topline
Solid start to the year, significant currency impact on topline Invoicing Q1 EUR million Net sales Q1 EUR million Adjusted EBIT Q1 EUR million -3.2% -4.8% +1.1% in constant currency -0.6% in constant currency 887 355 373 355 856 834 858 346 796 303 4.7 3.5 1.5 0.9 0.9 2019 2020 2021 2022 2023 2019 2
Slide 9: Profitability in line with our expectations
Profitability in line with our expectations Quarterly adj. EBIT EUR million 2021 2022 2023 • Profitability impacted by lower volumes in Swedish Dose dispensing business EUR 3.7 million 6.6 6.6 • High inflationary environment continued in constant currency 5.5 5.4 4.7 • Transportation costs in Sweden
Slide 10: Profit decreased and EPS at last year's level
Profit decreased and EPS at last year’s level Profit for the period Earnings per share EUR million EUR 2021 2022 2023 2021 2022 2023 5.5 5.3 4.3 3.8 0.03 0.03 2.1 0.02 0.02 1.1 0.7 0.010.01 0.00 0.00 -0.2 -0.04 -8.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 27 April 2023 | Q1 2023 10
Slide 11: Cash flow impacted by typical fluctuation in net working capital
Cash flow impacted by typical fluctuation in net working capital Quarterly net cash flow from operating activities1 Q1 YTD 2023 change in cash EUR million EUR million 2021 2022 2023 -42.6 39 42 36 29 28 -0.5 1.6 160.6 119.1 -14 -16 -26 -43 Q1 Q2 Q3 Q4 Cash Q4 2022 Operating Investing Financing Cash
Slide 12: Net debt at last year's level
Net debt at last year’s level Net interest-bearing debt1 Net interest-bearing debt items EUR million EUR million 2021 2022 2023 Net interest-bearing debt item 31 Mar 2023 31 Mar 2022 Bank loans 59.7 64.1 (syndicated Bank & term) Commercial papers 53.7 74.9 Advance payment from pharmacies 11.4 18.4 1
Slide 13: Balance sheet remained strong
Balance sheet remained strong Equity ratio1 % Gearing2 % 2021 2022 2023 2021 2022 2023 94.7 23.8 22.8 21.8 19.8 19.9 20.1 19.1 18.0 64.1 14.1 53.8 46.5 15.5 8.3 8.7 Q1 Q2 Q3 Q4 -4.6 -10.5 Q1 Q2 Q3 Q4 1 2021 includes discontinued operations 22021 includes discontinued operations 27 April 2023 | Q1 20
Slide 14: Swedish Pharmacy Holding
Swedish Pharmacy Holding Change in reporting: • Starting from Q1 2023 Oriola’s share of the net result is reported below EBIT line Swedish Pharmacy Holding’s reported Q1 2023 figures: • Net sales EUR 279.7 (293.7) million • Adjusted EBIT EUR -0.0 million • Realised synergies EUR 2.1 million • Adjust
Slide 15: Outlook 2023
Outlook 2023 Outlook updated according to the change in reporting: Oriola expects the adjusted EBIT to remain on the same level compared to 2022. The outlook takes into consideration the significant negative impact on Oriola’s profitability from the loss of public tenders and consequently of patient
Slide 16: Closing remarks
& Oriola Closing remarks
Slide 17: Sustainability highlights
Sustainability highlights Recognitions Best leadership 99.6% 91% 83% level with score A- pharmaceutical renewable electricity recycling rate delivery accuracy in and carbon neutral improved Finland heat Renewed AAA Achieved Target 2023: Target 2023: Target 2023: Prime C+ 98% 100% 87% delivery accura
Slide 18: Clear strategic direction
Clear strategic direction • Focus on core business, profitability improvement and Oriola’s societal role as an infrastructure company in securing the availability of pharmaceuticals • Distribution of pharmaceuticals, wide assortment of health and wellbeing products, and advisory services to pharmace
Slide 19: Our key priorities 2023
Our key priorities 2023 Profitable growth Efficiency Culture Enhance value Drive focused and Increase operational creation through a profitable growth and capital efficiency collaborative culture The preferred business partner in the Nordics Sustainability at the core The forerunner in the advanced
Slide 20: Key takeaways Q1 2023
Key takeaways Q1 2023 Markets continued to grow. 1 Net sales in constant currency at last year’s level. 2 Adjusted EBIT in line with our expectations. 3 We have a clear strategic direction and focus on long- term transformation. 27 April 2023 | Q1 2023 20
Slide 21: Our next events / Thank you!
Our next events 21 July 2023 Half-Year Report 2023 Contact: investor.relations@oriola.com Thank you!
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