Helsinki, Finland – ORION Holdings Corp. hosted its Q1 2024 Earnings Conference Call on April 25, 2024, with a slight delay due to technical issues. Tuukka Hirvonen, the Investor Relations & Financial Communications Officer, led the call alongside Liisa Hurme, the President, CEO, and Chairman of the Executive Management Board, and Jari Karlson, the CFO and Member of the Executive Management Board.

During the call, Liisa Hurme presented the company’s financial results for the first quarter of 2024, highlighting a strong top-line growth of 11% with €308.5 million in sales and €56 million in operating profit, resulting in an 18.2% profit margin. The company saw improvements in cash flow compared to Q1 ’23, attributing it to the transfer of a pension fund and a €30 million milestone payment from Bayer received in the previous year. Sales of Nubeqa, a key product, also contributed to the positive results.

Despite a flat growth in operating profit compared to revenue, ORION had strategically invested in research and development (R&D) and sales and marketing, leading to overall top-line growth. Notable successes were seen in Nubeqa and Easyhaler product portfolios, with the overall business segments contributing to the company’s growth.

The company also discussed its focus on sustainability, emphasizing patient safety, environmental initiatives, and social responsibility. ORION is ahead of its 2030 carbon-neutral target for scope 1 and 2 emissions and is expanding efforts to include scope 3 emissions as well.

Looking ahead, ORION announced a revised outlook for 2024, raising the lower limit of operating profit from €270 million to €280 million. The company remains optimistic about its growth trajectory, citing strong performances across its portfolio, including Nubeqa, Easyhaler, Animal Health, and generics.

The call also marked a significant moment as Jari Karlson, the long-serving CFO, delivered his 87th and final interim report before retirement. Colleagues expressed gratitude for his dedication and leadership over the years, wishing him well in his future endeavors.

Investors and analysts raised questions during the Q&A session, seeking insights on various topics such as product growth, financial projections, and upcoming clinical trials. ORION executives provided detailed responses, offering transparency and clarity on the company’s strategic direction and prospects.

Overall, the Q1 2024 Earnings Conference Call showcased ORION’s strong performance, strategic investments, and commitment to sustainability, setting a positive tone for the company’s continued growth and success in the future.