Orion Oyj Class A · OMXHEX:ORNAV
Orion Oyj Class A — Investor Day (May 2025)
12 slides from Orion Oyj Class A's investor day presentation, May 2025
Slide 1: Capital allocation and value creation
Capital allocation and value creation René Lindell, CFO
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which involve risks and uncertainty factors. These statements are not based on historical facts but relate to the Company’s future activities and performance. They include statements about future strategies and anticipated benefits of
Slide 3: Financial objectives
Financial objectives Strategy period 2024–2028 Net sales Operating profit CAGR ≥8%1 To grow faster than net sales1,2 Equity ratio Return on equity (ROE) ≥50% ≥25% Dividend Annually increasing dividend – payout ratio 50%–100% 1 Base year 2023 3 Orion CMD 2025 © Orion Corporation 2 Without EUR 30.7 mi
Slide 4: Mid-term: Growing revenue from EUR 1.5B to 2B
Mid-term: Growing revenue from EUR 1.5B to 2B Start of growth Continued phase growth 2010-2021 steady / low growth Reached 1.5B per target +8.0% 2B +7.3% 1,542 +2.4% 1,341 1,190 1,034 978 1,051 1,078 1,041 926 949 959 958 1,019 804 868 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 5: Capital allocation principles
Capital allocation principles Internal R&D Maintaining & In-licensing / External Focused M&As to Dividends pipeline increasing acquiring innovation gain strategic capacity commercial assets competences General growth rate Annually growing Tangible capex 4-5% Each case valued CAPEX that extends Debt
Slide 6: Historically: R&D ~11% and CAPEX ~6% of net sales
Historically: R&D ~11% and CAPEX ~6% of net sales % of net sales 20 15 8 7 6 5 7 4 8 5 4 3 CAPEX ~3-8% 10 (avg 5.7%, tangible 4.3%) R&D ~10-12% 11 11 11 11 11 11 11 12 (avg 10.8%) 5 10 10 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 6 Orion CMD 2025 © Orion Corporation
Slide 7: R&D costs increasing according to strategy
R&D costs increasing according to strategy CAGR (10.3% excluding write-off) 179.6 +16.1% Research expense explain majority of the 17.5 growth. This is due to increased number 27.7 of research projects and due to having 133.2 biologics entering late research phase. 126.9 28.1 26.3 55.5 33.0 33.5 Tota
Slide 8: Sales and marketing costs increasing to drive growth
Sales and marketing costs increasing to drive growth CAGR (10.3% excluding write-off) 278 +15.3% 24 225 209 54 47 42 Main drivers for the growth • Expansion of Easyhaler® in Europe 200 • Nubeqa® royalties to Endo 168 178 • Geographic expansion – namely Japan EUR million Write-off in 2024 • Growth ex
Slide 9: Solid value generation: Orion 10-year TSR CAGR 11.1%
Solid value generation: Orion 10-year TSR CAGR 11.1% Share price appreciation 88.5% Dividends 98.7% Total Shareholder Return 2015-2025 TSR % 200 187.2% 180 160 140 120 100 80 60 40 20 0 -20 2.5.2025 4.5.2015 Note: TSR calculated with dividends reinvested into shares. 9 Orion CMD 2025 © Orion Corpora
Slide 10: Key takeaways
Key takeaways Focus on long-term growth and value creation Disciplined capital allocation with clear priorities and principles R&D investments grow with the company In-licensing on top of own innovation € Increasing dividends while keeping capital for investments 10 Orion CMD 2025 © Orion Corporatio
Slide 11: Q&A
Q&A 11 Orion CMD 2025 © Orion Corporation
Slide 12: Orion Capital Markets Day 2025
Orion Capital Markets Day 2025 Helsinki 22 May 2025