Slide 1: Interim Report January-March 2026
Interim Report January-March 2026 29 April 2026
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 Q1 2026 highlights 2 Operating environment 3 Segments 4 Financial review Q&A Q1 2026 29 APRIL 2026
Slide 4: First quarter performance in line with expectations
First quarter performance in line with expectations • • Demand for Oriola’s distribution services has remained strong. In the wholesale business, the positive development from last year has Q1 26 continued, building on the actions and improvements implemented in 2025. Net sales excluding Swedish • N
Slide 5: Operating environment
Operating environment • Value of the pharmaceutical distribution market grew in Sweden, modest growth in Finland. • The geopolitical situation has increased uncertainty in the operating environment, with higher fuel prices and inflationary pressure. • Pharmaceutical companies build inventories to en
Slide 6: Financial reporting changes to better reflect Oriola's value creation and improve transparency
Financial reporting changes to better reflect Oriola’s value creation and improve transparency Oriola is a service company offering value-adding logistics and advisory 1 Revenue recognition policy services and a wide portfolio of health • Oriola’s management has made a judgement of customer contract
Slide 7: Q1: Services segment
Q1: Services segment • Net sales grew 4% to EUR 36.6 • Adjusted EBITDA decreased to EUR (35.3) million. 8.0 (8.5) million. • In the pharmaceutical distribution, • Adjusted EBITDA margin of 22.0% growth was supported by higher (24.0%). volumes in speciality flows such as • The reduction was mainly du
Slide 8: Q1: Products segment
Q1: Products segment • Net sales grew 10% to EUR 15.4 • Adjusted EBITDA was EUR 2.1 (0.9). (14.0) million.* • Adjusted EBITDA margin was 13.9% • Net sales growth was supported by (5.3%). both the wholesale and dose • The EBITDA improvement was driven dispensing businesses in Finland. by the wholesal
Slide 9: Financial review
Financial review Q1 2026 29 APRIL 2026
Slide 10: Financial reporting changes to better reflect Oriola's value creation and improve transparency
Financial reporting changes to better reflect Oriola’s value creation and improve transparency Oriola is a service company offering value-adding logistics and advisory 1 Revenue recognition policy services and a wide portfolio of health • Oriola’s management has made a judgement of customer contract
Slide 11: New reporting segments
New reporting segments New reporting segments The change in segment reporting Services Products clarifies the reporting of service- The Services segment consists of The Products segment consists of and product-driven businesses distribution of pharmaceuticals, value- wholesale of traded goods and ov
Slide 12: Invoicing and net sales
Invoicing and net sales Invoicing EUR million Net sales EUR million +8.1% 1,081 1,000 1-3 2026 +10.7% growth excluding • Invoicing growth comes from the Services Swedish dose dispensing segment. business • Net sales was lower than Q1 2025 due to Swedish dose dispensing business included in 51.2 49.8
Slide 13: EBITDA
EBITDA Adjusted EBITDA EUR million 1-3 2026 7.5 7.7 • Adjusted EBITDA margin of 15.4% (14.8%). 1.5 • Adjusted EBITDA excluding Swedish dose 2.4 dispensing business was 15.4% (16.3%). • Adjusting items totalled EUR -2.4 (-1.6) million of implementation cost related to ERP investment. 6.0 • Improvemen
Slide 14: Q1: Services segment
Q1: Services segment Invoicing EUR million Net sales EUR million Adjusted EBITDA* EUR million +3.7% +8.5% 35.3 36.6 1,068 985 8.5 -5.1% 8.0 Q1 25 Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 1-3 2026 1-3 2026 • Invoicing grew by 8.5% to EUR 1,068 million • Adjusted EBITDA decreased to EUR 8.0 (8.5) million, with a
Slide 15: Q1: Products segment
Q1: Products segment Net sales EUR million Adjusted EBITDA EUR million -21.4% 19.6 15.4 +9.6% growth excluding the Swedish dose dispensing business +103.8% 2.1 1.0 Q1 25 Q1 26 Q1 25 Q1 26 1-3 2026 1-3 2026 • Net sales grew by 9.6% to EUR 15.4 million (excl. Swedish • Excluding the Swedish dose dispe
Slide 16: Profit burdened by cost related to the ERP project and loss from Kronans Apotek
Profit burdened by cost related to the ERP project and loss from Kronans Apotek Net profit EUR million 5.3 1-3 2026 2026 -3.4 • EBITDA below last year due to higher adjusting 1-3 1.9 items. -1.4 • Adjusting items in EBITDA totalled MEUR -2.4 (-1.6) and included MEUR -2.4 (-1.3) implementation -2.3 c
Slide 17: Free cash flow
Free cash flow Free cash flow EUR million 1-3 2026 1-3 1-3 Abs. • EBITDA below last year due to higher adjusting EUR million 2026 2025 change items. EBITDA 5.3 6.0 -0.7 • Increase in NWC due to higher trade receivables. • Investments include the acquisition of the land area Adjustments 0.7 0.0 0.7 i
Slide 18: Net debt on a low level
Net debt on a low level Net interest-bearing debt EUR million Net interest-bearing debt items Mar Mar Abs. EUR million 2026 2025 change Bank loans (syndicated bank & term) 30.0 30.0 0.0 -9 -7 -13 Commercial papers 24.9 17.9 7.0 Advance payment from pharmacies 7.2 8.4 -1.2 -37 -37 Lease liabilities 1
Slide 19: Solid financial position
Solid financial position Gearing and equity ratio % Gearing Equity ratio 19 16 16 15 13 12 1-3 2026 • The adjusting items (mainly ERP) and the negative result from Kronans Apotek had a negative impact on the net result and the equity ratio. • Negative cash flow in Q1 impacted gearing. -31 -37 -41 -4
Slide 20: Kronans Apotek (Swedish Pharmacy Holding)
Kronans Apotek (Swedish Pharmacy Holding) 2026 2025 Change Key figures EUR million 1-3 1-3 % Net sales 323.2 295.2 9.5 EBITA -1.8 0.9 -307.8 EBIT -4.2 -1.4 -206.3 Adjusted EBIT -3.0 0.2 -1,764.6 Adjusted EBIT % -0.9 0.1 Loss for the period -4.7 -2.0 -136.6 Net interest-bearing debt 55.4 84.7 -34.6 F
Slide 21: Outlook
Outlook In 2026, 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 22: New financial targets to drive growth and efficiency
New financial targets to drive growth and efficiency Financial targets for the strategy period ending 2029 With a scalable platform, a cost Dividend policy base that is partly fixed, and a NET SALES At least 5% p.a. negative working capital, GROWTH growth will drive improved Oriola aims to pay an an
Slide 23: Share buyback programme
Share buyback programme Oriola’s Board of Directors has decided to commence a share buyback programme for Oriola’s own shares based on the authorisation given by the Annual General Meeting held on 25 March 2026. The purpose of the buyback programme is to develop Oriola’s capital structure, to be use
Slide 24: Q1 26 Key takeaways
Q1 26 Key takeaways Supply chain operations Good start to the year, with stable – automation both net sales and Welcome to join our Capital investment decision at adjusted EBITDA meeting Markets Day on 12 May Enköping distribution our expectations centre
Slide 25: Our next events - Thank you for joining us today!
Our next events 12 May 2026 Capital Markets Day 17 July 2026 Q2 2026 report Thank you for joining us today!
Slide 26: Health for life
Health for life