ORION CORPORATION INTERIM REPORT 1-9/2021 20 OCTOBER 2021 at 12:00 noon EEST Orion Group Interim Report 1-9/2021 This is a summary of Orion's Interim Report 1-9/2021. The
Aki Ojanen, CEO of Aspo Group, comments on the first quarter of 2021:
Aspo achieved strong results during the first quarter of 2021, even though the coronavirus pandemic continues to have a negative impact on the operating conditions of some of our businesses. The Group’s operating profit reached a new record of EUR 7.9 (4.0) million during the first quarter. This significant increase in the operating profit resulted from Telko’s considerably improved profitability, with ESL Shipping’s Q1 results also being the strongest in its history.
Our potential to achieve our financial targets set for 2023 was already reflected strongly in our first quarter’s figures. Our operating profit rate increased to the targeted 6%, our return on equity exceeded the target of 20% and gearing continued to decrease towards the targeted 130%. This trend results from correct choices and the unrelenting fulfillment of our strategy in our businesses.
Strong first quarter as exceptional circumstances continue
“In the early part of 2021, the exceptional circumstances brought on by the COVID-19 pandemic are still prevailing. For Orion, this means continuing to focus on looking after the health and safety of our employees and ensuring production continuity, product availability and patient safety in ongoing clinical trials.
In January–March 2021, Orion s net sales were EUR 269 (280) million and operating profit EUR 75 (84) million. As anticipated, they fell below the robust comparative period when the peak in demand for pharmaceuticals caused by the COVID-19 pandemic gave a boost to sales and profits. The Specialty Products unit had a good quarter even though due to the coronavirus pandemic and related restrictions implemented in various countries, the prevalence of seasonal illnesses such as the common flu has been lower than normal, and there has been a decline in non-critical procedures and medical appointments. The pandemi
Orion Oyj: Orion Group Interim Report 1-3/2021
Orion
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This is a summary of Orion s Interim Report 1-3/2021. The complete report is attached to this stock exchange release and is available at https://www.orion.fi/en/Orion-group/investors/financial-reviews-and-presentations/
Net sales totalled EUR 269 million (EUR 280 million in 1-3/2020).
Operating profit was EUR 75 (84) million.
Profit before taxes was EUR 75 (83) million.
Equity ratio was 54% (69%).
ROCE before taxes was 38% (39%).
ROE after taxes was 35% (33%).
Basic earnings per share were EUR 0.42 (0.48).
Cash flow per share before financial items was EUR 0.19 (0.34).
The outlook for 2021 remains unchanged. Orion estimates that net sales in 2021 will be slightly lower than in 2020 (net sales in 2020 were EUR 1,078 million). Operating profit is estimated to be lower or clearly lower than in 2020 (operating profit in 2020 was EUR 280 million).