ORION CORPORATION
HALF-YEAR FINANCIAL REPORT 1–6/2026
17 JULY 2026 at 12:00 EEST
Orion Group Half-Year Financial Report January–June 2026
April–June 2026 Highlights
Net sales totalled EUR 521.6 (April–June 2025: 416.5) million
Operating profit was EUR 176.6 (104.6) million
Basic earnings per share were EUR 1.00 (0.59)
Cash flow from operating activities per share was EUR 1.95 (0.57)
Several key milestones reached with ODM-212 development asset
FDA approval for Animal Health division's Tessie®
January–June 2026 Highlights
Net sales totalled EUR 939.3 (January–June 2025: 771.0) million
Operating profit was EUR 291.3 (182.5) million
Basic earnings per share were EUR 1.64 (1.02)
Cash flow from operating activities per share was EUR 2.21 (1.12)
The outlook for 2026 is specified: Net sales are estimated to be EUR 2,000 million to EUR 2,100 million. Operating profit is estimated to be EUR 650 million to EUR 750 million. Previously net sales were estimated to be EUR 1,950 to EUR 2,100 million, and operating profit was estimated to be EUR 600 million to EUR 750 million.
Key figures
4–6/26 | 4–6/25 | Change % | 1–6/26 | 1–6/25 | Change % | 1–12/25 | |
Net sales, EUR million | 521.6 | 416.5 | +25.2% | 939.3 | 771.0 | +21.8% | 1,889.5 |
EBITDA, EUR million | 191.9 | 118.6 | +61.8% | 322.3 | 210.2 | +53.3% | 688.3 |
% of net sales | 36.8% | 28.5% | 34.3% | 27.3% | 36.4% | ||
Operating profit, EUR million | 176.6 | 104.6 | +68.8% | 291.3 | 182.5 | +59.6% | 631.6 |
% of net sales | 33.9% | 25.1% | 31.0% | 23.7% | 33.4% | ||
Profit before taxes, EUR million | 175.8 | 103.4 | +70.0% | 289.2 | 180.3 | +60.4% | 627.8 |
% of net sales | 33.7% | 24.8% | 30.8% | 23.4% | 33.2% | ||
Profit for the period, EUR million | 140.2 | 82.5 | +69.9% | 230.6 | 143.8 | +60.4% | 500.3 |
% of net sales | 26.9% | 19.8% | 24.6% | 18.7% | 26.5% | ||
Research and development expenses, EUR million | 62.2 | 49.1 | +26.7% | 110.4 | 90.0 | +22.7% | 210.4 |
% of net sales | 11.9% | 11.8% | 11.8% | 11.7% | 11.1% | ||
Capital expenditure excluding acquired in business combination, EUR million | 22.7 | 34.0 | -33.2% | 40.5 | 54.5 | -25.7% | 112.9 |
% of net sales | 4.4% | 8.2% | 4.3% | 7.1% | 6.0% | ||
Acquired in business combination, net of cash, EUR million | 4.0 | 4.0 | 4.0 | ||||
Interest-bearing net liabilities, EUR million | 2.5 | 134.3 | -98.1% | 144.4 | |||
Basic earnings per share, EUR | 1.00 | 0.59 | +69.7% | 1.64 | 1.02 | +60.2% | 3.56 |
Cash flow from operating activities per share, EUR | 1.95 | 0.57 | > 100% | 2.21 | 1.12 | 97.7% | 2.25 |
Equity ratio, % | 67.9% | 56.1% | 64.1% | ||||
Gearing, % | 0.2% | 14.6% | 11.2% | ||||
Return on capital employed (before taxes), % | 39.3% | 29.0% | 43.8% | ||||
Return on equity (after taxes), % | 36.1% | 29.9% | 43.7% | ||||
Average number of personnel during the period | 4,154 | 3,970 | +4.6% | 4,003 |
President and CEO Liisa Hurme:
Strong quarter marked by accelerating growth and improved profitability