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

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 million	1-3/22	4-6/22	7-9/22	10-12/22
Innovative Medicines	22.1	21.9	246.6	38.8
Branded Products	73.3	76.3	61.4	67.4
Generics and Consumer Health	145.2	137.1	132.7	142.2
Animal Health	13.2	17.7	34.4	33.6
Fermion	20.2	15.8	16.6	16.1
Translation differences and Other operations	-3.5	14.8	0.0	-3.5
Total	270.6	283.7	491.8	294.5

NET SALES BREAK-DOWN BY REVIEW-PERIOD
EUR million	1-3/22	1-6/22	1-9/22	1-12/22
Innovative Medicines	22.1	44.0	290.7	329.4
Branded Products	73.3	149.6	211.1	278.5
Generics and Consumer Health	145.2	282.3	415.0	557.2
Animal Health	13.2	30.9	65.3	98.9
Fermion	20.2	36.1	52.7	68.7
Translation differences and Other operations	-3.5	11.3	11.3	7.8
Total	270.6	554.3	1,046.1	1,340.6

Adjusted consolidated income statement for 2022

	1-3/22		4-6/22		7-9/22		10-12/22
EUR million	Previously reported	Adjusted	Previously reported	Adjusted	Previously reported	Adjusted	Previously reported	Adjusted
Cost of goods sold	-106.1	-105.5	-110.2	-109.6	-136.1	-135.5	-139.3	-138.5
Sales and marketing expenses	-48.4	-48.1	-51.5	-51.2	-51.4	-51.1	-59.1	-58.7
Research and development expenses	-32.1	-31.5	-28.6	-28.0	-36.3	-35.7	-38.8	-38.0
Administrative 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 million	Previously reported	Adjusted	Previously reported	Adjusted	Previously reported	Adjusted	Previously reported	Adjusted
Cost of goods sold	-106.1	-105.5	-216.3	-215.1	-352.4	-350.6	-491.7	-489.0
Sales and marketing expenses	-48.4	-48.1	-99.9	-99.3	-151.2	-150.4	-210.3	-209.1
Research and development expenses	-32.1	-31.5	-60.7	-59.5	-97.0	-95.2	-135.8	-133.2
Administrative 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.