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Comparing periods showed an increase in Orion’s results

ByEditor

Feb 13, 2024

Orionn’s pharmaceutical company reported improved results in October–September compared to the same period the previous year. The operating profit rose to 92.9 million euros, exceeding analyst expectations. This was partly due to a 30.7 million euro installment related to the transfer of the insurance portfolio of Orion Pension Foundation’s B section.

The company’s turnover for the quarter was 321.1 million euros, higher than the estimated 318.9 million euros. Earnings per share also increased to 0.54 euros per share. The company’s board proposed a dividend of 1.62 euros per share for the last fiscal year.

Looking ahead, the company estimates that its turnover in 2024 will be between 1,340–1,410 million euros, and the operating profit between 270–310 million euros. However, these projections depend on several factors, including the successful operation of the company’s production and supply chains.

According to managing director Liisa Hurme, the company’s clinical development pipeline is progressing well, and the blockbuster drug Nubeqa is experiencing strong growth. The company plans to initiate several new clinical projects and trials in the coming year.

In 2023, the company’s turnover was 1,189.7 million euros, and the operating profit was 274.9 million euros. The decrease in turnover and operating profit from the previous year was attributed to a large advance payment recorded in the previous year.

The company’s operating profit guidance range is primarily due to Nubeqa sales and the development of research and development costs. The company acknowledges the difficulty in predicting the exact level of Nubeqa royalties and the timing of product deliveries, which could significantly impact operating profit.

By Editor

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