January-
· Invoicing increased by 7.9% (increased 5.4%) to
· Net sales increased by 15.8% (increased 2.3%) to
· Adjusted EBIT was
· Profit for the period totalled
· COVID-19 pandemic caused a peak in demand for pharmaceuticals and rapidly changed the operating environment.
Business outlook for 2020
The adjusted EBIT on a constant currency basis is estimated to increase from 2019 level.
President and CEO
"
The first quarter of the year was exceptional. During March, the COVID-19 pandemic impacted
In Consumer, net sales grew by 10.3% on a constant currency basis compared to the same period last year. The change in consumer behaviour accelerated sales during the first quarter of the year with online sales growing by 45%. The growth was especially strong in March, when online sales grew by nearly 100% compared to the same period last year.
Pharma continued strong growth in both operating countries. On a constant currency basis invoicing grew by 9.4% and net sales by 24.2% compared to the same period last year. Due to the pandemic, pharmaceutical sales grew especially in March. Profitability was burdened by high freight and distribution centre costs particularly in
Retail continued growth in the first quarter of the year. On a constant currency basis the net sales grew by 10.9% compared to the same period last year. Retail's sales grew due to the demand peak for common cold products caused by COVID-19, as well as the growth in dose-dispensing business in
The restrictions on citizens' mobility, and the burden on public healthcare capacity caused by the pandemic inevitably also impact
[][]
Key figures 2020 2019 Change 2019
EUR million 1-3 1-3 % 1-12
Invoicing 965.3 894.4 7.9 3,733.1
Net sales 459.8 397.1 15.8 1,721.3
Adjusted EBIT[1] 6.9 3.7 86.6 20.5
EBIT 7.5 3.7 101.8 15.3
Adjusted EBIT % 1.5 0.9 1.2
EBIT % 1.6 0.9 0.9
Profit for the period 5.1 1.7 195.0 8.0
Earnings per share, EUR 0.03 0.01 194.9 0.04
Net cash flow from operating activities -0.5 -25.4 84.4
Gearing, % 91.8 129.4 76.1
Equity ratio, % 12.4 15.0 15.5
Return on capital employed (ROCE), % 8.6 3.8 4.1
[1] Adjusting items are specified in note 12. Adjusting items.
The figures for Q1-Q3 2019 in this Interim Report have been restated due to an error related to previous periods. For more information on the correction of the error please refer to the
In order to reflect the underlying business performance and to enhance comparability between financial periods
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