![]() ![]() However, the overall sales of the Generics and Consumer Health division declined due to generic competition and declining prices of Simdax® and dexmedetomidine products for human use, together with the discontinuation of business operations in Russia. In Finland, sales of generics and OTC products increased due to strong volume growth. In view of the growth prospects, we decided in June to invest in increasing Easyhaler's production capacity at our pharmaceutical plant in Espoo and to build a new filling line for dry powder inhalers. At the Capital Markets Day in May, we announced that the Easyhaler® product portfolio has the potential to reach annual sales of more than EUR 200 million. The Easyhaler® product portfolio continued to grow, but lower deliveries of Parkinson's medicines to our partners and lower sales of the Divina® series due to discontinuation of the business in Russia weighed on net sales. The net sales of the Branded Products business division, on the other hand, decreased. Sales of Nubeqa are expected to grow strongly in the coming years, which is why in June we announced an investment to increase production capacity for darolutamide at Fermion's Hanko plant. The Innovative Medicines business division's revenue increased significantly thanks to the good performance of Nubeqa®. ![]() The estimated operating profit increase during the second half of 2023 is based on assumptions including continued good performance of Nubeqa, growing sales of Easyhaler product portfolio, good performance of generic portfolio, easing of cost inflation in the second half of the year, levelling off of the decline in sales of Simdax and dexmedetomidine products for human use, and a EUR 30 million milestone payment related to the sales of Nubeqa. The operating profit decline from the comparative period was mainly as expected but, due to discontinuation of Russian business operations, softening demand in animal health market and inventory level adjustments among some of our customers, the full year operating profit is expected to be slightly higher than in 2022 – not slightly higher or higher as we estimated earlier. "In January-June 2023, our net sales increased by 2.4% to EUR 567.5 million and our operating profit decreased by 33.5% to EUR 102.0 million. The year has progressed mostly in line with our expectations despite slight headwinds with certain markets and timing of deliveries Return on capital employed (before taxes), % ![]() Interest-bearing net liabilities, EUR millionĬash flow from operating activities per share, EUR Research and development expenses, EUR millionĬapital expenditure, excluding acquired in business combination, EUR millionĪcquired in business combination, net of cash, EUR million The full detailed outlook can be found in the "Outlook for 2023" section of this report. Previously operating profit was estimated to be slightly higher or higher than in 2022 without the EUR 208 million net impact from the ODM-208 upfront payment and without the possible transfer of the insurance portfolio of Orion Pension Fund’s B fund. Operating profit is estimated to be slightly higher than in 2022 without the EUR 208 net impact from the ODM-208 upfront payment and without the possible transfer of the insurance portfolio of Orion Pension Fund’s B fund (operating profit in 2022 without the net impact of the ODM-208 upfront payment was EUR 232 million). The outlook for 2023 has been specified regarding operating profit.Cash flow from operating activities per share was EUR 0.27 (0.59).Basic earnings per share were EUR 0.57 (0.88).Return on equity after taxes (ROE) was 19.1% (33.0%).Return on capital employed before taxes (ROCE) was 20.0% (33.7%).Profit before taxes was EUR 100.9 (155.2) million.Operating profit was EUR 102.0 (153.4) million.The complete report is attached to this stock exchange release and is available at This is a summary or Orion’s Half-Year Financial Report 1–6/2022. Orion Group Half-Year Financial Report 1– 6 /2023
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