Comparative net sales data for 2022 under Orion’s new

By Globe News Wire On Mar 27, 2023

ORION CORPORATION
STOCK EXCHANGE RELEASE – OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE
27 MARCH 2023 at 09.00 EEST

Comparative net sales data for 2022 under Orion’s new organisational structure and revised accounting practice as of 1 January 2023

Orion Corporation announces unaudited comparative net sales data under the new organisational structure for all quarters of 2022 and for January-December 2022. Orion will itemise net sales under the new organisational structure starting with the interim report 1-3/2023.

Orion’s new organisational structure took effect on 1 January 2023. Under the new organisational structure, Orion has five business divisions according to which net sales is itemised. These are Innovative Medicines, Branded Products, Generics and Consumer Health, Animal Health and Fermion. In addition to these, net sales reporting contains one further item, “Translation differences and Other operations”, which mostly comprises the impact of translation differences on Orion’s net sales.

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In addition to the new organisational structure and how Orion itemises net sales, the company revised its accounting practice as of 1 January 2023 by re-assigning expenses associated with information management, previously reported as cost of goods sold, sales and marketing expenses or research and development expenses, to administrative expenses. The change does not affect Group’s reported key figures, operating profit or balance sheet, but it increases previously reported administrative expenses for 2022 by EUR 6.6 million and correspondingly decreases the cost of goods sold, sales and marketing expenses and research and development expenses.

Adjusted figures from 2022 are stated in the tables below.

Comparative net sales data for 2022 according to the new organisational structure

NET SALES BREAK-DOWN BY QUARTER EUR million1-3/224-6/227-9/2210-12/22Innovative Medicines22.121.9246.638.8Branded Products73.376.361.467.4Generics and Consumer Health145.2137.1132.7142.2Animal Health13.217.734.433.6Fermion20.215.816.616.1Translation differences and Other operations-3.514.80.0-3.5Total270.6283.7491.8294.5NET SALES BREAK-DOWN BY REVIEW-PERIOD EUR million1-3/221-6/221-9/221-12/22Innovative Medicines22.144.0290.7329.4Branded Products73.3149.6211.1278.5Generics and Consumer Health145.2282.3415.0557.2Animal Health13.230.965.398.9Fermion20.236.152.768.7Translation differences and Other operations-3.511.311.37.8Total270.6554.31,046.11,340.6

Adjusted consolidated income statement for 2022

1-3/22

4-6/22

7-9/22

10-12/22

EUR millionPreviously reportedAdjustedPreviously reportedAdjustedPreviously reportedAdjustedPreviously reportedAdjustedCost of goods sold-106.1-105.5-110.2-109.6-136.1-135.5-139.3-138.5Sales and marketing expenses-48.4-48.1-51.5-51.2-51.4-51.1-59.1-58.7Research and development expenses-32.1-31.5-28.6-28.0-36.3-35.7-38.8-38.0Administrative expenses-12.9-14.5-13.2-14.6-24.8-26.3-17.9-20.0 1-3/22

1-6/22

1-9/22

1-12/22

EUR millionPreviously reportedAdjustedPreviously reportedAdjustedPreviously reportedAdjustedPreviously reportedAdjustedCost of goods sold-106.1-105.5-216.3-215.1-352.4-350.6-491.7-489.0Sales and marketing expenses-48.4-48.1-99.9-99.3-151.2-150.4-210.3-209.1Research and development expenses-32.1-31.5-60.7-59.5-97.0-95.2-135.8-133.2Administrative expenses-12.9-14.5-26.1-29.1-50.9-55.4-68.8-75.4

Orion Corporation

Liisa Hurme

President and CEO

Jari Karlson

CFO

Contact person:
Jari Karlson, CFO
tel. +358 10 426 2883

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and self-care products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion’s net sales in 2022 amounted to EUR 1,341 million and the company had about 3,500 employees at the end of the year. Orion’s A and B shares are listed on Nasdaq Helsinki.