Orion Oyj Class A · OMXHEX:ORNAV
Orion Oyj Class A — Q1 2015 Earnings Presentation
24 slides from Orion Oyj Class A's earnings presentation, Apr 29, 2015
Slide 1: Orion Interim Report January─March 2015
Orion Interim Report January─March 2015 29 April 2015 Timo Lappalainen President & CEO
Slide 2: Forward-looking statements
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 these strat
Slide 3: Year started strongly
Year started strongly • Net sales were slightly higher and operating profit clearly higher than in comparative period • Generic competition to Stalevo started to extend in Europe, but Proprietary Products sales as a whole remained steady due to strong growth in sales of the Easyhaler product family
Slide 4: Net sales and operating profit
Net sales and operating profit Basic earnings per Laimentamaton Cash flow perrahavirta share Net sales, Operating profit, Osakekohtainen EUR million EUR million osakekohtainen tulos, € share, EUR before financial ennen items, rahoituseriä, € EUR 83 260 245 0.47 67 0.38 0.37 0.30 Q1/2014 Q1/2015 Q1/2
Slide 5: Breakdown of net sales
Breakdown of net sales Group’s net sales in Q1/2015 were EUR 260 million By business division By market area 6% 4% 15% 6% 34% 30% 8% 8% 42% 14% 33% Proprietary Products Specialty Products Animal Health Finland Scandinavia Fermion Other Europe North America Contract manufacturing & other Orion Diagno
Slide 6: Business Reviews
Business Reviews
Slide 7: Pharmaceuticals business
Pharmaceuticals business Q1/2014 Q1/2015 Net sales split EUR million Q1/15 Q1/14 Change % 229 244 Proprietary Products 89 88 +1% Specialty Products 109 102 +6% Animal Health 22 15 +40% Fermion 15 15 -1% 67 81 Contract manufacturing & other 10 9 +16% • Net sales of branded Parkinson’s drugs down by N
Slide 8: Best-selling pharmaceuticals Q1/2015
Best-selling pharmaceuticals Q1/2015 2014 Net sales, EUR million Stalevo®, Comtess® & Comtan® (Parkinson’s disease) -18% 42 -10% 169 Simdax® (acute decompensated heart failure) +2% 13 +19% 47 Easyhaler® product family (asthma, COPD) +22% 12 +59% 35 dexdor® (intensive care sedative) +39% 11 +40% 35 D
Slide 9: Orion clear market leader in Finland
Orion clear market leader in Finland Finnish human pharmaceuticals Finland’s biggest pharmaceutical market in Q1/2015 companies in Q1/2015 EUR million • Wholesale EUR 521 million (+2%) 70 63 60 Orion in Finnish human pharmaceuticals market 50 • Sales growth +7% 40 • Orion clear market leader 31 32 –
Slide 10: Review of Parkinson's drugs markets
Review of Parkinson’s drugs markets Overall markets for Parkinson’s drugs Market shares of Orion’s USD / EUR million 2014 2013 Change % branded Parkinson’s drugs 2014 2013 USA USD 816 765 +7% Finland 2) 20% 22% EU TOP 5 EUR 992 985 +1% Sweden 2) 14% 15% Japan EUR 507 495 +2% Norway 2) 15% 16% Source
Slide 11: dexdor intensive care sedative
dexdor® intensive care sedative European sedative market MAT12/2014* Dexdor sales Total market value EUR 509 million (+3%) 12 6% 12% 10 8 15% 6 67% 4 2 0 Propofol EUR 342 million (+3%) Midazolam EUR 76 million (-3%) Dexmedetomidine EUR 28 million (+28%) Remifentanil EUR 63 million (+4%) Dexdor sales
Slide 12: Key clinical pharmaceutical development projects 1/2
Key clinical pharmaceutical development projects 1/2 Project Indication PHASE Registration Bufomix Easyhaler® (budesonide-formoterol) 1) Asthma, COPD I II III Easyhaler® salmeterol-fluticasone Asthma, COPD I II III ODM-201 (androgen receptor inhibitor) 2) Prostate cancer I II III Low Cardiac Output
Slide 13: Key clinical pharmaceutical development projects 2/2
Key clinical pharmaceutical development projects 2/2 Project Indication PHASE Registration ODM-104 (more effective COMT inhibitor) Parkinson’s disease I ODM-203 (targeted FGFR+VEGFR inhibitor) Solid tumours I ODM-204 (CYP17 enzyme and androgen receptor inhibitor) Prostate cancer I ODM-106 (GABA-B re
Slide 14: Diagnostics business
Diagnostics business Q1/2014 Q1/2015 • Operating profit growth mainly due to exchange rate changes 16 16 and favourable margin structure of sales from portfolio • QuikRead® tests remained the 4.0 main product 2.6 • Launching of the first Orion Net sales, EUR Operating profit, GenRead® test system pr
Slide 15: Outlook for 2015
Outlook for 2015 (updated on 24 April 2015) Net sales will be slightly lower than in 2014 (net sales Net sales were EUR 1,015 million in 2014). Operating profit Operating profit is estimated to exceed EUR 230 million. The Group’s capital expenditure will be about EUR 50 Group’s capital million exclu
Slide 16: Orion Calendar 2015
Orion Calendar 2015 Capital Markets Day for analysts, institutional 26 May 2015 investors and media in Helsinki Interim Report January─June 2015 28 July 2015 Interim Report January─September 2015 27 October 2015 16 29 April 2015 Orion Interim Report January─March 2015
Slide 17: Orion – Building well-being
GRION Building well-being
Slide 18: Orion's financial objectives
Orion’s financial objectives Increasing net sales. Achievement of this objective requires continuous investment in development of the product portfolio. Maintaining profitability at a good level. The aim is operating profit that exceeds 20% of net sales. Keeping the equity ratio at least 50%. Distri
Slide 19: Key figures by quarter
Key figures by quarter EUR million Net sales EUR million Operating profit 1,200 300 1,000 250 60 59 55 66 254 273 255 800 236 Q4 200 65 Q4 76 64 67 600 246 237 238 Q3 150 Q3 211 Q2 65 Q2 65 61 86 400 277 100 227 233 248 Q1 Q1 200 50 93 83 79 74 67 244 247 249 245 260 0 0 11 12 13 14 15 11 12 13 14 1
Slide 20: Key figures for 2011─Q1/2015
Key figures for 2011─Q1/2015 Orion’s key figures 2011 2012 2013 2014 Q1/2015 Q1/2014 Change % Net sales, EUR million 917.9 980.4 1,006.9 1,015.3 259.9 245.0 +6.1% Operating profit, EUR million 282.9 278.3 267.7 272.4 83.1 67.4 +23.3% Profit before taxes, EUR million 282.0 276.6 264.0 267.8 82.7 66.5
Slide 21: Income Statement 2011─Q1/2015
Income Statement 2011─Q1/2015 Formation of profits, EUR million 2011 2012 2013 2014 Q1/2015 Q1/2014 Change % Net sales 917.9 980.4 1,006.9 1,015.3 259.9 245.0 +6.1% Cost of goods sold -305.1 -350.8 -393.5 -401.7 -91.4 -95.8 -4.6% Gross profit 612.8 629.6 613.4 613.6 168.5 149.2 +13.0% Other operatin
Slide 22: Product protection situation of key products
Product protection situation of key products Key patents or data protection expire Molecule Product Indication Europe USA Japan Stalevo®, November 2012 January Entacapone Parkinson’s disease October 2013 Comtess® and Comtan® October 2013 1) 2015 2) Acute Levosimendan Simdax® decompensated September
Slide 23: Dividend distribution policy
Dividend distribution policy Orion’s dividend distribution takes into account distributable funds and capital expenditure and other financial requirements in medium and long term to achieve the financial objectives. Dividend distribution history EUR 1.60 100% 0.12 EUR 1.40 0.06 95% EUR 1.20 0.10 90%
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