Key figures

Orion's key figures for 2008–2012




2008 2009 2010 2011 2012 Change %
Net sales, EUR million 710.7 771.5 849.9 917.9 980.4 +6.8%
International operations, EUR million 493.6 548.2 620.7 677.2 723.1 +6.8%

% of net sales 69.4% 71.1% 73.0% 73.8% 73.8%
Operating profit, EUR million 185.0 207.0 254.2 282.9 280.9 -0.7%

% of net sales 26.0% 26.8% 29.9% 30.8% 28.7%
Profit before taxes, EUR million 184.2 203.7 252.6 282.0 279.3 -0.9%

% of net sales 25.9% 26.4% 29.7% 30.7% 28.5%
Income tax expense, EUR million 47.8 52.3 67.9 72.4 70.4 -2.8%
R&D expenses, EUR million 90.0 95.2 85.5 87.5 104.8 +19.8%

% of net sales 12.7% 12.3% 10.1% 9.5% 10.7%
Capital expenditure, EUR million 56.8 60.4 39.2 49.5 46.8 -5.3%

% of net sales 8.0% 7.8% 4.6% 5.4% 4.8%
Assets total, EUR million 695.5 727.1 745.8 779.1 836.9 +7.4%
Equity ratio, % 60.2% 60.6% 62.7% 64.2% 61.1%
Gearing, % -7.1% -8.9% -12.2% -6.9% -1.7%
Interest-bearing liabilities, EUR million 146.3 131.5 110.0 88.7 136.7 +54.1%
Non-interest-bearing liabilities, EUR million 130.6 156.5 168.4 190.5 189.0 -0.8%
Cash and cash equivalents and money market investments, EUR million 176.1 170.5 167.2 123.0 145.2 +18.1%
ROCE (before taxes) , % 38.5% 37.4% 45.0% 49.4% 46.2%
ROE (after taxes), % 32.1% 35.3% 40.7% 43.3% 41.3%
Personnel at the end of the period 3,309 3,147 3,131 3,425 3,486 +1.8%
Average personnel during the period 3,270 3,192 3,137 3,328 3,495 +5.0%
Personnel expenses, EUR million 170.9 171.4 170.3 186.0 212.1 +14.0%









Net sales by business division


EUR million 2008 2009 2010 2011 2012 Change %
Pharmaceuticals 667.6 728.5 806.2 870.6 928.9 +6.7%

Proprietary Products 278.1 324.0 370.9 408.9 403.7 -1.3%

Specialty Products 260.5 274.8 298.6 320.8 367.2 +14.4%

Animal Health 67.2 62.1 67.5 67.8 69.2 +2.0%

Fermion 36.1 41.4 44.9 43.3 48.4 +11.7%

Contract Manufacturing and other 25.7 26.2 24.4 29.7 40.5 +36.1%
Diagnostics 45.0 45.2 46.1 49.5 54.1 +9.3%
Group items -1.9 -2.2 -2.4 -2.2 -2.7 +20.3%
Group total 710.7 771.5 849.9 917.9 980.4 +6.8%








 

Orion's performance per share 2008–2012





2008 2009 2010 2011 2012 Change %
Basic earnings per share, EUR 0.97 1.07 1.31 1.49 1.48 -0.4%
Diluted earnings per share, EUR 0.97 1.07 1.31 1.49 1.48 -0.4%
Cash flow per share before financial items, EUR 0.66 1.03 1.26 1.10 1.23 +12.1%
Equity per share, EUR 2.97 3.11 3.32 3.55 3.63 +2.2%
Total dividend, EUR million 133.9 141.0 168.9 183.1 183.2¹ +0.1%
Payout ratio, % 97.9% 93.5% 91.6% 87.2% 87.8%¹
Dividend per share, EUR 0.95 1.00 1.20 1.30 1.30¹
Repayment of capital from the expendable fund and reserve for invested unrestricted equity, EUR 0.10 0.06 0.12
A shares






Number of shares at 31 Dec 51,440,668 51,340,668 47,563,565 44,993,218 43,267,218

Effective dividend yield, % 7.9% 6.6% 7.3% 8.6% 5.9%¹

Price/earnings ratio (P/E) 12.37 14.07 12.52 10.19 14.90

Closing quotation at 31 Dec, EUR 12.00 15.06 16.40 15.18 22.05

Lowest quotation during the period, EUR 10.50 10.42 12.21 13.10 13.31

Average quotation during the period, EUR 12.98 12.65 15.13 16.09 16.82

Highest quotation during the period, EUR 16.40 15.75 17.82 18.05 22.57

Shares traded, 1,000 shares 2,508 3,816 7,780 4,586 4,055


% of the total number of shares 4.8% 7.4% 15.8% 9.9% 9.1%



2008 2009 2010 2011 2012 Change %
B shares






Number of shares at 31 Dec excluding treasury shares 89,492,324 89,637,130 93,177,609 95,850,856 97,664,619

Treasury shares at 31 Dec 324,836 280,030 516,654 413,754 325,991

Number of shares at 31 Dec including treasury shares 89,817,160 89,917,160 93,694,263 96,264,610 97,990,610

Effective dividend yield, % 7.9% 6.6% 7.3% 8.6% 5.9%¹

Price/earnings ratio (P/E) 12.44 14.07 12.50 10.10 14.99

Closing quotation at 31 Dec, EUR 12.07 15.05 16.37 15.05 22.18

Lowest quotation during the period, EUR 10.30 10.35 13.20 13.19 13.31

Average quotation during the period, EUR 12.85 12.21 15.10 16.09 16.26

Highest quotation during the period, EUR 16.44 15.34 17.88 18.14 22.74

Shares traded, 1,000 shares 73,719 84,569 93,247 77,594 84,056


% of the total number of shares 82.6% 94.1% 101.2% 81.8% 86.9%
Total number of shares at 31 Dec 141,257,828 141,257,828 141,257,828 141,257,828 141,257,828

Average number of shares during the period excluding treasury shares 141,002,721 140,969,942 140,917,406 140,827,159 140,914,572
Shares traded, % of all shares 54.1% 62.6% 71.5% 58.2% 62.4%
Market capitalisation at 31 Dec, excluding treasury shares, EUR million 1,697.5 2,122.2 2,305.4 2,125.6 3,120.2









¹ The Board of Directors proposes to the AGM that the dividend for 2012 be EUR 1.30 per share.


 

Operating profit by business area


EUR million 2008 2009 2010 2011 2012 Change %
Pharmaceuticals 188.5 210.6 252.2 287.6 288.9 +0.5%
Diagnostics 6.1 5.6 6.1 4.9 2.6 -46.9%
Group items -9.6 -9.2 -4.1 -9.5 -10.6 +10.7%
Group total 185.0 207.0 254.2 282.9 280.9 -0.7%

Key figures for Pharmaceuticals business


EUR million 2008 2009 2010 2011 2012 Change %
Net sales 667.6 728.5 806.2 870.6 928.9 +6.7%
Operating profit 188.5 210.6 252.2 287.6 288.9 +0.5%

% of net sales 28.2% 28.9% 31.3% 33.0% 31.1%
R&D expenses 85.4 89.4 79.5 81.1 96.6 +19.1%

% of net sales 12.8% 12.3% 9.9% 9.3% 10.4%
Capital expenditure 53.3 57.6 36.2 38.8 42.0 +8.4%

% of net sales 8.0% 7.9% 4.5% 4.5% 4.5%
Sales revenue from own proprietary products 307.5 346.5 397.1 421.1 429.0 +1.9%
Assets 466.8 504.0 527.7 597.5 628.5 +5.2%
Liabilities 77.0 101.7 102.1 132.2 127.3 -3.7%
Personnel at the end of the period 2,995 2,829 2,802 3,079 3,123 +1.4%

 

Top ten best-selling pharmaceutical products


EUR million

2008 2009 2010 2011 2012 Change %
Stalevo®, Comtess® and Comtan® Parkinson's disease 208.5 234.9 252.7 266.7 250.1 -6.2%
Precedex® Intensive care sedative 9.6 14.6 27.2 33.0 45.3 +37.5%
Simdax® Acute decompensated heart failure 17.3 29.4 39.9 44.0 43.6 -0.9%
Easyhaler® product family Asthma, COPD 22.2 24.9 28.1 30.5 26.8 -12.1%
Burana® Inflammatory pain 19.4 19.9 21.5 23.5 23.3 -0.6%
Dexdomitor®, Domitor®, Domosedan® and Antisedan® Animal sedatives 24.6 19.3 24.2 23.2 22.8 -1.9%
Generic entacapone products Parkinson's disease 0.3 17.0
Marevan® Anticoagulant 10.1 11.2 13.1 15.6 15.8 +1.1%
Divina® range Menopausal symptoms 14.7 13.2 13.3 13.2 15.5 +17.2%
dexdor® Intensive care sedative 0.9 13.0
Total

326.5 367.4 419.9 450.9 473.2 +5.0%

Share of pharmaceutical net sales, %
49% 50% 52% 52% 51%

Key figures for Diagnostics business


EUR million 2008 2009 2010 2011 2012 Change %
Net sales 45.0 45.2 46.1 49.5 54.1 +9.3%
Operating profit 6.1 5.6 6.1 4.9 2.6 -46.9%

% of net sales 13.6% 12.3% 13.3% 9.9% 4.8%
R&D expenses 4.8 5.9 6.0 6.4 8.3 +29.2%

% of net sales 10.6% 13.0% 13.1% 12.9% 15.3%
Capital expenditure 2.8 2.5 2.5 10.4 4.2 -60.1%

% of net sales 6.2% 5.6% 5.5% 21.1% 7.7%
Assets 28.2 30.3 34.2 44.4 47.3 +6.5%
Liabilities 8.0 9.4 9.1 17.4 16.2 -6.6%
Personnel at the end of the period 287 291 302 322 340 +5.5%








 

Net sales by annual quarters


EUR million Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 2012
Pharmaceuticals 231.0 215.9 199.8 223.8 232.5 220.1 234.2 242.1 928.9
Diagnostics 13.7 11.7 11.3 12.9 15.5 13.4 12.1 13.1 54.1
Group items -0.6 -0.6 -0.5 -0.6 -0.6 -0.7 -0.5 -0.8 -2.7
Group total 244.1 227.0 210.7 236.1 247.4 232.8 245.8 254.4 980.4

 

Operating profit by annual quarters


EUR million Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 2012
Pharmaceuticals 92.3 67.1 66.8 61.4 79.4 68.1 78.6 62.8 288.9
Diagnostics 2.8 0.7 0.8 0.7 2.5 0.5 0.0 -0.5 2.6
Group items -2.1 -2.7 -2.1 -2.5 -2.7 -2.7 -2.3 -2.9 -10.6
Group total 92.9 65.1 65.4 59.6 79.3 66.0 76.3 59.4 280.9

Geographical breakdown of net sales by annual quarters


EUR million Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 2012
Finland 59.1 59.8 60.1 61.7 64.0 62.7 63.3 67.3 257.3
Scandinavia 33.4 30.3 28.1 28.5 32.4 30.3 30.3 33.3 126.3
Other Europe 80.2 77.2 71.5 79.6 78.7 79.2 76.5 68.1 302.5
North America 38.7 29.2 24.0 36.0 38.4 30.4 27.1 54.7 150.7
Other markets 32.8 30.6 26.9 30.3 33.9 30.2 48.6 31.0 143.7
Group total 244.1 227.0 210.7 236.1 247.4 232.8 245.8 254.4 980.4