Slide 1: Orion Full Year 2023 Result Presentation
Orion Full Year 2023 Result Presentation 13 February 2024
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: Q4 2023 results
Q4 2023 results • Net sales growth driven by Nubeqa® and 10-12/ 10-12/ Easyhaler® product portfolio 2023 2022 Change • Operating profit boosted by EUR 30.7 million Net sales, EUR million 321.1 294.5 +9.0% positive impact from the transfer of the Orion Pension Fund’s B Fund to an external pension ins
Slide 4: Full-year 2023 results
Full-year 2023 results • Underlying net sales increased by ~7% 1-12/ 1-12/ Change • i.e. without EUR 228 million upfront payment in 2022 2023 2022 • Underlying operating profit increased by ~5% • i.e. without EUR 208 million net impact from upfront Net sales, EUR million 1,189.7 1,340.6 -11.3% payme
Slide 5: Net sales bridge from FY2022 to FY2023
Net sales bridge from FY2022 to FY2023 1 Simdax® and dexmedetomidine for human use 5 Other products and services (excl. Animal Health and Fermion) 2 Nubeqa® (product sales and royalty) 6 Animal Health and Fermion 3 Entacapone products 7 Milestones 4 Russia 8 Exchange rates 5 13 February 2024 © Orion
Slide 6: Operating profit bridge from FY2022 to FY2023
Operating profit bridge from FY2022 to FY2023 1 Product & service sales without sales margin and product mix change and exchange rate effect 5 Milestones 2 Product sales margin and product mix change but without exchange rate effect 6 Other operating income and expenses 3 Exchange rate effect on gro
Slide 7: Innovative Medicines EUR 235.1 million (-28.6%)
Innovative Medicines EUR 235.1 million (-28.6%) – Nubeqa® sales more than doubled in 2023 • Decline due to significant EUR 228 million upfront Nubeqa® sales booked by Orion1 payment recorded in 2022 70 • Excluding the upfront payment, net sales more than 60 doubled • 2023 sales includes EUR 30 milli
Slide 8: Branded Products EUR 260.9 million (-6.3%)
Branded Products EUR 260.9 million (-6.3%) 160 • Easyhaler® product portfolio 144.2 Sales split 140 continued on a solid growth 129.7 3% track 120 113.4 • The decline in entacapone 8% 100 88.4 products mainly due to lower partner sales MEUR 80 • De-stocking 60 • Increased competition 40 34% 55% 27.6
Slide 9: Generics and Consumer Health EUR 517.6 million (-7.1%)
Generics and Consumer Health EUR 517.6 million (-7.1%) 450 • Generic competition pressing 419.8 Sales split by geographic 386.7 the prices and sales of Simdax® 400 areas and dexmedetomidine products 350 for human use 300 • Discontinuation of business 16% 250 operations in Russia also MEUR explains t
Slide 10: Animal Health and Fermion
Animal Health and Fermion • Animal Health growth (+5%) due Animal Health Fermion to acquisition of animal health 120 120 103.9 company VMD (Inovet) in June 98.9 2022 100 100 22.8 • In H2 Animal Health net sales 80 36.3 80 68.7 73.7 declined from comparative period due to weakening MEUR 60 60 demand
Slide 11: TOP products and total sales split by division
TOP 10 products and total sales split by division EUR vs. Product or product portfolio million 2022 Sales split in 2023 1. Nubeqa® 182.5 >100% 2. Easyhaler® product portfolio 144.2 +11.1% 3. Entacapone products1 88.4 -22.0% 6% 9% 20% 4. Simdax® 25.7 -40.0% 5. Burana® 25.1 -6.0% 6. Dexdomitor®, Domit
Slide 12: Key clinical development pipeline
Key clinical development pipeline Project/compound Indication PHASE I PHASE II PHASE III REGISTRATION ARANOTE / darolutamide 1 Prostate cancer (mHSPC) Ongoing ARASTEP / darolutamide 1 Prostate cancer (BCR) Ongoing OMAHA1 / ODM-208 (MK-5684-003) 2 Prostate cancer (mCRPC) Initiated OMAHA2a / ODM-208 (
Slide 13: Orion's Sustainability Agenda and indicators 2023
Orion’s Sustainability Agenda and indicators 2023 Patient safety as a top priority Active work for a better environment Care for well-being professionals Ethics at the core of our business Customer GxP2 audits Greenhouse gas Energy savings Injury rate Code of Conduct complaints by Orion emissions (M
Slide 14: New members in Orion Executive Management Board
New members in Orion Executive Management Board Julia Macharey started as SVP People & Culture on 1 February 2024 René Lindell appointed CFO of Orion as of 1 May 2024 14 13 February 2024 © Orion Corporation
Slide 15: Outlook for 2024
Outlook for 2024 Net sales EUR 1,340–1,410 million Operating EUR 270–310 million profit 15 13 February 2024 © Orion Corporation
Slide 16: Basis for the outlook – key contributors
Basis for the outlook – key contributors Net sales EUR 1,340–1,410 million Operating profit EUR 270–310 million Innovative Medicines • Expected growth driven by Nubeqa® royalties and assumed EUR 70 million Nubeqa® milestone Nubeqa® sales booked by Orion • Difficult to predict the exact level of
Slide 17: Strategy and financial targets
Strategy and financial targets
Slide 18: Building well-being
Building well-being Inspired by our Nordic heritage, we strive to empower people around the world to live their lives to the fullest – today and tomorrow. Build a customer-driven Expand to new geographies and Develop Inn portfolio strengthen global partnerships growth enablers ov tiv a e a lt h M r
Slide 19: The dream of a truly global Finnish pharma company – why now?
The dream of a truly global Finnish pharma company has existed for a long time – why now? Promising R&D capabilities and All of our business areas projections for the quality have been have demonstrated coming decade: validated. resilience by establishing The stellar success of We have excelled in g
Slide 20: Building well-being
Building well-being Inspired by our Nordic heritage, we strive to empower people around the world to live their lives to the fullest – today and tomorrow. • Innovative Medicines for Oncology and Pain Build a customer- • Brand products for Respiratory, Central Nervous Innovative Branded driven portfo
Slide 21: Our growth will come in three phases
Our growth will come in three phases STRENGTHEN & BUILD & INVEST ACCELERATE EXPAND Build and invest into Grow & maximise value Strengthen European & global commercial assets of global assets APAC market position and capabilities Inspired by our Nordic heritage, we strive to empower people around the
Slide 22: Financial objectives
Financial objectives Strategy period 2024–2028 Net sales Operating profit CAGR ≥8% To grow faster than net sales Equity ratio ROE ≥50% ≥25% Dividend Annually increasing dividend – payout ratio 50%–100% 22 13 February 2024 © Orion Corporation
Slide 23: Capital allocation focus
Capital allocation focus In-licensing / Focused In-licensing / Internal R&D acquiring M&As to gain Dividends acquiring pipeline commercial strategic R&D assets assets competences Higher Lower 23 13 February 2024 © Orion Corporation
Slide 24: Building well-being
Building well-being We draw on our century-long experience in healthcare while keeping our sights firmly set on future innovations to support you every step of your way. Our novel therapies help change the lives of patients across the globe. We serve societies in sustaining health systems with a div
Slide 25: Upcoming events
Upcoming events AGM 2024 planned to be held on 20/3/2024 Interim Report 1–3/2024 25/4//2024 Half-Year Financial Report 1–6/2024 8/8/2024 Interim Report 1–9/2024 29/10/2024 25 13 February 2024 © Orion Corporation