Brief: Orion Expects 2023 Operating Profit To Be Slightly Higher Than In 2022

Orion Oyj

26/10/2023 10:38

Oct 26 (Reuters) - Orion Oyj  ORNBV.HE :
    * REG-ORION GROUP INTERIM REPORT JANUARY-SEPTEMBER 2023
    * DEVELOPMENT OF BRANDED PRODUCTS BUSINESS DIVISION WAS
TWO-FOLD
    * DECREASE IN NET SALES OF GENERICS AND CONSUMER HEALTH
BUSINESS
DIVISION IS EXPLAINED BY DECLINE IN SALES OF SIMDAX® AND
DEXMEDETOMIDINE PRODUCTS FOR HUMAN USE, AND CLOSURE OF BUSINESS
IN RUSSIA
    * OUTLOOK: ORION ESTIMATES THAT NET SALES IN 2023 WILL BE
SLIGHTLY
HIGHER THAN IN 2022 WITHOUT EUR 228 MILLION IMPACT FROM ODM-208
UPFRONT PAYMENT
    * NEGATIVE IMPACT OF CERTAIN FACTORS SEEN IN FIGURES FOR
FIRST
HALF OF 2023, SUCH AS RUSSIA-RELATED ITEMS, COST INFLATION AND
NUBEQA'S CHANGED DELIVERY PRICE, STARTED TO EASE IN Q3 OF 2023,
AS EXPECTED
    * OVERALL, 2023 HAS PROGRESSED AS ANTICIPATED, WITH
EXCEPTION OF
LOWER THAN EXPECTED DELIVERIES OF ENTACAPONE PRODUCTS AND SOME
ANIMAL HEALTH PRODUCTS TO OUR PARTNERS
    * OUTLOOK: OPERATING PROFIT IS ESTIMATED TO BE SLIGHTLY
HIGHER
THAN IN 2022 WITHOUT EUR 208 MILLION NET IMPACT FROM ODM-208
UPFRONT PAYMENT AND WITHOUT POSSIBLE TRANSFER OF INSURANCE
PORTFOLIO OF ORION PENSION FUND'S B FUND

Source text for Eikon:  ID:nGNE3zCx9y 
Further company coverage:  ORNBV.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))