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2007-10-23 07:33:48 CEST 2007-10-23 07:33:48 CEST BIRTINGARSKYLDAR UPPLÝSNINGAR Oriola-KD Oyj - Quarterly reportOriola-KD Corporation s interim report for 1 January - 30 September 2007Oriola-KD Corporation stock exchange release 23 October 2007 at 8.30am This review presents the Oriola-KD Group's financial information for January-September 2007. The comparison figures from the corresponding period in 2006 are pro forma figures. This interim report has been prepared in accordance with IAS 34 and in keeping with the same accounting principles as the annual financial statements for 2006. The figures are unaudited. Key figures 1 January - 30 September 2007 * Invoicing in the period was EUR 1,884.5 million (1-9/2006: EUR 1,737.1 million) and net sales were EUR 1,045.7 million (1-9/2006: EUR 991.0 million). * Operating profit excluding one-off items was EUR 22.1 million (1-9/2006: EUR 17.1 million). * Operating profit including one-off items was EUR 22.1 million (1-9/2006: EUR 12.1 million). * Return on capital employed was 15.1 percent (1-9/2006 8.1 percent). * Earnings per share were EUR 0.12 (1-9/2006: EUR 0.06). President and CEO Eero Hautaniemi: "Oriola KD's business and profitability developed as anticipated in the first three quarters of 2007. Our streamlining measures will allow us to achieve in full our goal of five million euro in cost savings in the current year. The dental business merger with Lifco was executed in Sweden and Denmark at the beginning of September and in Finland on 1 October 2007. Increasingly efficient operations and our strong balance sheet and market position, together with positive development in the healthcare market, enable business development in line with strategy at Oriola-KD." Invoicing and net sales Oriola-KD's invoicing in January-September 2007 was EUR 1,884.5 million (EUR 1,737.1 million) and net sales were EUR 1,045.7 million (EUR 991.0 million). Third-quarter invoicing came to EUR 605.2 million (EUR 563.0 million) and net sales to EUR 333.8 million (EUR 319.0 million). Financial performance In January-September 2007, Oriola-KD's operating profit excluding one-off items was EUR 22.1 million (EUR 17.1 million) and profit after financial income and expenses, excluding one-off items, was EUR 23.6 million (EUR 17.8 million). Third-quarter operating profit excluding one-off items was EUR 8.0 million (EUR 7.2 million). Oriola-KD's operating profit including one-off items was EUR 22.1 million in the review period (EUR 12.1 million). Third-quarter operating profit including one-off items was EUR 8.0 million (EUR 6.8 million). Profit in the review period after financial income and expenses and including one-off items came to EUR 23.6 million (EUR 12.8 million). Net profit in the review period was EUR 17.8 million (EUR 9.4 million). One-off expenses in the period under review amounted to EUR 0.0 million (EUR 5.0 million). Third-quarter profit after financial income and expenses and including one-off items was EUR 8.5 million (EUR 7.0 million) Oriola-KD had net financing income of EUR 1.5 million (EUR 0.7 million) in the period under review. Taxes in the review period amounted to EUR 5.8 million (EUR 3.3 million). Taxes corresponding to the result for the period under review are accounted as taxes. Earnings per share in the review period were EUR 0.12 (EUR 0.06). Return on capital employed was 15.1 percent (8.1 percent) and return on equity 12.1 percent (6.7 percent). Balance sheet, financing and cash flow Oriola-KD's total assets at 30 September 2007 stood at EUR 613.3 million (EUR 588.6 million). Interest-bearing net debt amounted to EUR -79.6 million (EUR -55.5 million) and the gearing ratio was -39.8 percent (-29.3 percent). Cash assets at the end of September 2007 stood at EUR 96.6 million (EUR 80.4 million). Interest-bearing debt, which stood at EUR 17.0 million at 30 September 2007 (EUR 24.9 million), consisted mainly of pharmacies' advance payments in Finland. Oriola-KD has credit facilities of EUR 25 million with banks and a commercial paper programme of EUR 100 million, which remained untapped at the end of the period under review. The Group has no significant inner circle business transactions except for pension expenses arising from defined benefit plans with the Oriola Pension Foundation. Cash flow from operations in the period was EUR 10.5 million (EUR 28.2 million), of which changes in working capital accounted for EUR -15.6 million (EUR 9.3 million). The change in working capital is mainly attributable to new principals in the pharmaceutical trade business segment and a temporary increase in pharmaceutical inventories in Sweden. Cash flow from investments was EUR -2.0 million (EUR -10.9 million). Cash flow after investments in the period was EUR 8.5 million (EUR 17.3 million). Cash flow from financing includes the dividend of EUR 8.5 million paid on 23 March 2007. Oriola-KD's equity ratio stood at 33.5 percent (33.1 percent). Investments Investments in the period under review amounted to EUR 4.9 million (EUR 13.5 million) and consisted mainly of maintenance and PPE investments as well as the Medith business acquisition in Healthcare Trade. Personnel At the end of the period under review, Oriola-KD had a payroll of 1,389 employees (1,540), 57 percent of whom worked in Finland (58 percent), 26 percent in Sweden (26 percent) and a total of 17 percent in the Baltic countries and Denmark (16 percent). At 31 December 2006, personnel numbered 1,495. Business segments Oriola-KD has two business segments: the Pharmaceutical Trade business segment and the Healthcare and Dental Trade business segment. Pharmaceutical Trade business segment The Pharmaceutical Trade business segment's invoicing in January-September was EUR 1,682.0 million (EUR 1,537.1 million) and net sales were EUR 865.0 million (EUR 820.2 million). Operating profit excluding one-off items was EUR 14.7 million (EUR 11.6 million). Third-quarter invoicing in the business segment came to EUR 543.0 million (EUR 500.0 million) and net sales to EUR 278.3 million (EUR 264.9 million). Third-quarter operating profit excluding one-off items was EUR 5.0 million (EUR 4.9 million). The pharmaceutical market in Finland grew by 4.7 percent (1.0 percent) and in Sweden by 6.7 percent (4.1 percent) in January-September 2007 (source: IMS Health). Oriola-KD's share of the pharmaceutical distribution market in Finland was 44.3 percent (41.1 percent) in September 2007 and 46.3 percent (41.7 percent) in January-September 2007 (source: IMS Health). In Sweden, Oriola-KD's market share in pharmaceutical distribution was 42.4 percent (43.1 percent) in September 2007 and 42.5 percent (43.7 percent) in January-September 2007 (source: ATY and IMS Health). The streamlining measures implemented in 2006 will allow us to achieve in full our goal of EUR 5 million in cost savings in 2007. These savings will enhance in particular the profitability of the Pharmaceutical Trade business segment in 2007. The number of employees within the Pharmaceutical Trade business segment was 866 (971) at 30 September 2007, compared to 925 at year-end 2006. New distribution agreements During the period under review, Oriola-KD gained pharmaceutical distribution principals Schering-Plough Oy and Roche Oy as of 1 January 2007. Schering-Plough's share of the Finnish pharmaceutical market in 2006 was 1.7 percent and Roche's 3.8 percent. In Sweden, Oriola-KD started distributing Meda pharmaceuticals as of 1 January 2007 and assumed responsibility for all Pfizer distribution at the end of May 2007, having before that distributed half of Pfizer's pharmaceutical brands in Sweden. Meda's share of the Swedish pharmaceutical market in 2006 was 1.2 percent and Pfizer's 9.2 percent (source: IMS Health). Negotiations with principals in the review period did not result in Oriola-KD concluding any significant new distribution agreements in Finland or Sweden. In the Pharmacy and Retail Marketing business, Oriola-KD and the Finnish Valio Ltd signed a cooperation agreement in August for Oriola to assume responsibility for the manufacture, distribution, sales and marketing of Valio Gefilus capsules. The cooperation agreement concerns the Finnish, Baltic and Swedish markets. Transferring distribution agreements The pharmaceutical principals transferring from Oriola-KD in the period under review hold a total combined share of some 1.5 percent of the pharmaceutical market in Finland and some 3 percent in Sweden. The transferring pharmaceutical principals in Finland are the Finnish subsidiary of Amgen AB as of 1 April 2007 and in Sweden Schering Nordiska as of 1 July 2007 and Amgen AB as of 1 October 2007. Negotiations initiated in Q2 with unprofitable, mainly small and medium-sized pharmaceutical principals on renewing distribution agreements in Finland and Sweden were for the most part completed during the third quarter of 2007. The new agreements are estimated to contribute to improved profitability starting in 2008. According to the situation at 30 September 2007, Oriola-KD's share of the pharmaceutical distribution market in 2007 is estimated at some 46 percent in Finland and approximately 43 percent in Sweden. Healthcare and Dental Trade business segment The Healthcare and Dental Trade business segment's invoicing in January-September 2007 was EUR 202.6 million (EUR 200.0 million) and net sales were EUR 180.7 million (EUR 170.8 million). Operating profit excluding one-off items was EUR 10.0 million (EUR 7.3 million). Third-quarter invoicing came to EUR 62.2 million (EUR 63.0 million) and net sales to EUR 55.5 million (EUR 54.1 million). Third-quarter operating profit excluding one-off items was EUR 3.4 million (EUR 3.2 million). The healthcare trade business saw mostly positive development in all markets during the period under review. Ties with Teleflex Medical were strengthened in Denmark, Sweden and Finland by including in the product range the Hudson anaesthesia products earlier acquired by the company. The part of Medith Oy's business acquired in early 2007 developed as planned and strengthened market standing in Finland. The product range will be augmented with Carl Zeiss Meditec's ophthalmic surgery products in early 2008. A letter of intent was signed in September to transfer the marketing business of Zimmer orthopaedic products - currently marketed in Finland by Oriola-KD - to the Finnish sales company of Zimmer. This transfer is expected to take place in spring 2008. An agreement was also reached on transferring the sale of Sysmex haematology products in Finland and the Baltics to Roche Diagnostics at the beginning of 2008. The transfer is part of a wider international arrangement. Dental businesses in Sweden and Denmark were merged under an agreement concluded between Oriola-KD Corporation and Lifco AB on 7 June 2007. The merger of the businesses in Finland took place on 1 October 2007 and was approved by the competition authorities in the period under review. In the Baltics, the merger of the businesses of the two is estimated to take place in early 2008. Subsequent to the merger and the cash contribution of EUR 14 million paid on 1 October 2007, Oriola-KD holds a 30 percent share of the merged dental business while the remaining 70 percent are held by Lifco. The number of employees within the Healthcare and Dental Trade business segment was 523 (570) at 30 September 2007, compared to 570 at year-end 2006. Oriola-KD Corporation share Trading volume of Oriola-KD Corporation's Class A and B shares in January-September 2007: Class A Class B Trading volume, million 10.2 58.7 Trading volume, EUR million 33.8 190.4 High, EUR 3.70 3.68 Low, EUR 2.64 2.57 Close on 30 Sept 2007, EUR 3.35 3.30 The traded volume of Oriola-KD Corporation shares in the review period equalled 48.7 percent of total outstanding shares. The traded volume of Class A shares in the period under review amounted to 19.0 percent of average outstanding stock and that of Class B shares to 66.8 percent. Oriola-KD Corporation had a market capitalisation of EUR 468.7 million at 30 September 2007. Under Article 3 of the Articles of Association, a shareholder may demand conversion of Class A shares into Class B shares. During the first three quarters of the 2007, a total of 4,949,682 Class A shares have been converted into Class B shares. At 30 September 2007, the company had 51,344,958 Class A shares and 89,912,870 Class B shares. The Annual General Meeting held on 13 March 2007 authorised the Board to acquire for the company a maximum of 1,450,000 of the company's own Class B shares. The authorisation shall remain in force for a period not to exceed eighteen (18) months from the decision taken by the Annual General Meeting. On the same occasion, the AGM authorised the Board to allocate 650,000 B shares to a share incentive scheme for top management in the Oriola-KD Group and to sell no more than 800,000 B shares in public trading organised by the Helsinki Exchanges. Companies in the Oriola-KD Group held no parent company shares at the end of the review period. Risk factors Oriola-KD's risks are classified as strategic, operative and financial. Risk management is a key element of the strategic process, operative planning and daily decision-making at Oriola-KD. Oriola-KD has identified the following most significant strategic and operative risks in its business: * changes in bargaining position vis-à-vis suppliers and customers * impacts on business concepts of potential changes in the structure of the Swedish market * maintenance of cost-effectiveness and flexibility in costs * provision of competitive products and services in expanding and consolidating markets * expansion-related risks in new markets and businesses * commitment of key employees The major financial risks for Oriola-KD involve currency exchange rates, interest rates, liquidity and credit. During the period under review, there were no material change in the risks and uncertainty factors faced by Oriola-KD in the near future. Future outlook Oriola-KD's outlook for 2007 is based on external market forecasts, agreements with principals, cumulative orders and management's estimates. Long term fundamentals and growth prospects are deemed favourable in the healthcare market. Oriola-KD estimates that the pharmaceutical market in Finland and Sweden will grow by about 3-5 percent annually over the next few years, which is in line with the longer-term average growth rate of these markets. Oriola-KD estimates that growth in the market for healthcare and dental equipment and supplies will outpace that of the pharmaceutical market in Finland and in Sweden. In sales of healthcare equipment and supplies, Oriola-KD estimates that its growth will outpace that of the market. Invoicing in the healthcare logistics services in Sweden is estimated to fall from 2006 levels, mainly due to the sale of the home distribution business there. Oriola-KD's invoicing in 2007 is projected to exceed comparable invoicing in the previous year primarily as a result of new agreements with principals concluded in 2006 and market growth. Operating profit excluding one-off items in 2007 is projected to exceed comparable operating profit in the previous year primarily as a result of higher invoicing and streamlining measures implemented in 2006. The dental business merger between Oriola-KD and Lifco is estimated to contribute to higher operating profit at Oriola-KD starting from Q4 in 2007. TABLES Income Pro forma Pro forma Pro forma Statement, 1.1.- 1.1.- 1.7.- 1.7.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Net sales 1045.7 991.0 333.8 319.0 1334.7 662.7 Cost of goods sold -937.4 -888.7 -300.0 -285.3 -1195.4 -592.0 Gross profit 108.3 102.2 33.8 33.7 139.2 70.7 Other operating income 1.5 1.3 0.6 0.5 4.0 3.2 Selling and distribution expenses -77.0 -76.8 -23.3 -23.1 -105.5 -51.3 Administrative expenses -10.7 -14.6 -3.1 -4.3 -20.3 -10.4 Operating profit 22.1 12.1 8.0 6.8 17.4 12.2 Financial income and expenses 1.5 0.7 0.5 0.2 1.0 0.5 Profit before taxes 23.6 12.8 8.5 7.0 18.4 12.7 Tax expense*) -5.8 -3.3 -2.1 -1.8 -4.4 -2.8 Profit for the period 17.8 9.4 6.4 5.2 14.0 9.9 of which available for: Parent company shareholders 17.4 9.1 6.2 5.1 13.6 9.6 Minority interest 0.3 0.3 0.2 0.1 0.5 0.4 Earnings per share: -Basic, EUR 0.12 0.06 0.04 0.04 0.10 0.07 *) The tax expense for the period 2007 has been calculated as the proportional share of the total estimated taxes for the financial year. The tax expense for 2006 Pro forma are based on published figures for Orion Corporation's Wholesale and Distribution Division extracted from financial data for Orion Corporation. Income statement excluding Pro forma Pro forma Pro forma one-off items, 1.1.- 1.1.- 1.7.- 1.7.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Net Sales 1045.7 991.0 333.8 319.0 1334.7 662.7 Cost of goods sold -937.4 -887.1 -300.0 -285.3 -1193.8 -592.0 Gross profit 108.3 103.9 33.8 33.7 140.8 70.7 Other operating income 1.5 1.3 0.6 0.5 1.9 1.1 Selling and distribution expenses -77.0 -75.1 -23.3 -23.1 -102.3 -49.7 Administrative expenses -10.7 -12.9 -3.1 -3.9 -17.9 -9.3 Operating profit 22.1 17.1 8.0 7.2 22.6 12.8 Financial income and expenses 1.5 0.7 0.5 0.2 1.0 0.5 Profit before taxes 23.6 17.8 8.5 7.4 23.6 13.3 Pro forma Balance sheet, EUR million 30.9.2007 30.9.2006 31.12.2006 Non-current assets Property, plant and equipment 58.3 69.1 63.3 Goodwill 34.6 33.9 34.7 Other intangible assets 5.0 8.2 7.5 Investments in associates and available-for- sale investments 0.0 0.0 0.0 Other non-current receivables 10.0 13.7 10.0 Deferred tax assets 0.0 1.3 0.0 Non-current assets total 108.0 126.3 115.6 Current assets Inventories 184.5 166.6 181.0 Trade and other receivables 224.2 215.3 201.8 Cash and cash equivalents 96.6 80.4 112.9 Current assets total 505.2 462.3 495.6 ASSETS TOTAL 613.3 588.6 611.2 Pro forma Balance sheet, EUR million 30.9.2007 30.9.2006 31.12.2006 Non-current liabilities Share capital 36.2 36.2 36.2 Other funds 30.1 30.1 30.1 Retained earnings 125.2 113.7 116.9 Net assets of the parent company shareholders 191.5 180.0 183.2 Minority interest 8.2 9.6 8.5 Shareholder's equity total 199.8 189.7 191.8 Non-current liabilities Deferred tax liabilities 8.9 13.0 9.7 Pension liability 4.1 3.8 4.1 Provisions 0.0 0.0 0.0 Interest-bearing non-current liabilities 0.4 7.7 0.5 Other non-current liabilities 0.4 0.4 0.4 Current liabilities total 13.8 24.9 14.8 Current liabilities Trade payables and other current liabilities 382.1 356.1 370.9 Provisions 0.9 0.7 1.9 Interest-bearing current liabilities 16.6 17.2 31.8 Current liabilities total 399.7 374.0 404.6 EQUITY AND LIABILITIES TOTAL 613.3 588.6 611.2 Changes in shareholder's equity Equity of the parent Share Other Translation Retained company Minority EUR million capital funds differences earnings shareholders interest Total Shareholder's equity 1.1.2007 36.2 30.1 0.0 116.9 183.3 8.5 191.8 Translation differences -0.8 -0.8 -0.1 -0.9 Dividend Paid -8.5 -8.5 -0.5 -8.9 Hedge on net investment in foreign subsidiary -0.1 -0.1 -0.1 Change in minority interest Other changes -0.1 -0.1 -0.1 Share based payments 0.3 0.3 0.3 Taxes related to items booked into equity Items booked into equity Profit for the period 17.4 17.4 0.3 17.8 Shareholder's equity 30.9.2007 36.2 30.1 -0.8 125.9 191.5 8.3 199.8 Cash flow statement, Pro forma Pro forma EUR million 1.1.-30.09.2007 1.1.-30.09.2006 1.1.-31.12.2006 Operating profit 22.1 12.1 17.4 Depreciation 8.0 8.8 11.7 Change in working capital -15.6 9.3 25.9 Cash flow from financial items and taxes -4.1 -3.2 -6.3 Other adjustments 0.1 1.2 3.9 Cash flow from operating activities 10.5 28.2 52.7 Cash flow from investing activities -2.0 -10.9 -10.2 Cash flow from financing activities -24.2 27.7 35.1 Net change in cash and cash equivalents -15.7 45.0 77.6 Cash and cash equivalents at beginning of period 112.9 35.0 35.0 Foreign exchange difference -0.6 0.4 0.4 Net change in cash and cash equivalents -15.7 45.0 77.6 Cash and cash equivalents at end of period 96.6 80.4 112.9 Change in property, plant and equipment 1.1.- Pro forma Pro forma EUR million 30.09.2007 1.1.-30.09.2006 1.1.-31.12.2006 Carrying amount at the beginning of the period 63.3 70.2 70.2 Additions 4.3 5.8 7.3 Disposals -3.0 -1.4 -7.6 Depreciation -5.6 -6.0 -8.0 Translation differencies -0.6 0.4 1.3 Carrying amount at the end of the period 58.3 69.1 63.3 Pro forma Key figures and 1.1.- 1.1.- Pro forma rations 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Equity ratio,% 33.5% 33.1% 33.1% 33.1% Equity per share, EUR 1.36 1.27 1.30 1.30 Return on capital employed (ROCE),% 15.1% 8.1% 8.6% 12.1% Return on equity,% 12.1% 6.7% 7.4% 10.3% Net interest bearing debt, Me -79.6Me -55.5Me -80.6Me -80.6Me Gearing,% -39.8% -29.3% -42.0% -42.0% Earnings per share, EUR 0.12 0.06 0.10 0.07 Average number of share, tpcs *) 141 258 141 258 141 258 141 258 *) In the calculation for the share related key figures of 2006, number of shares at the end of period has been used. In the calculation for the share related key figures for the period 1.1-30.6.2006 average number of shares for the period has been used. Forward contracts and contingent liabilities 30.9.2007 Negative Nominal Positive fair fair values EUR million value value of contracts Hedging of a net investment in an independent foreign unit 0.0 Other forward and currency swap contracts 0.0 21.5 30.9.2006 Negative Nominal Positive fair fair values EUR million value value of contracts Hedging of a net investment in an independent foreign unit 0.3 26.5 Other forward and currency swap contracts 0.0 3.8 EUR million 30.9.2007 30.9.2006 31.12.2006 Contingent for own liabilities Guarantees given 2.6 8.5 4.8 Real-estate mortgages given 1.0 8.0 1.0 Mortgages on company assets 22.5 21.9 22.9 Other guarantees and liabilities 2.1 2.2 2.5 Total 28.1 40.6 31.2 Guarantees given on behalf of external parties 0.0 0.0 0.0 Leasing-liabilities (operating liabilities) 0.4 0.5 0.6 Rent contingent 5.5 5.3 6.5 Invoicing by business Pro forma Pro forma segment, 1.1.- 1.1.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Pharmaceutical Trade 1682.0 1537.1 2064.7 1027.7 Healthcare and Dental Trade 202.6 200.0 275.4 138.3 Group Total 1884.5 1737.1 2340.1 1166.0 Net sales by business Pro forma Pro forma segment, 1.1.- 1.1.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Pharmaceutical Trade 865.0 820.2 1098.7 543.5 Healthcare and Dental Trade 180.7 170.8 236.0 119.3 Group Total 1045.7 991.0 1334.7 662.7 Operating profit by Pro forma Pro forma business segment, 1.1.- 1.1.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Pharmaceutical Trade 14.7 9.0 13.0 8.6 Healthcare and Dental Trade 10.0 5.3 8.2 6.1 Group items -2.7 -2.1 -3.8 -2.6 Group total 22.1 12.1 17.4 12.2 Average number of personnel 1 475 1 563 1 548 1 556 Number of personnel at the end of the period 1 389 1 540 1 495 1 495 Operating profit by business segment excluding one-off Pro forma Pro forma items, 1.1.- 1.1.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Pharmaceutical Trade 14.7 11.6 15.6 9.0 Healthcare and Dental Trade 10.0 7.3 10.4 6.3 Group items -2.7 -1.7 -3.4 -2.6 Group total 22.1 17.1 22.6 12.8 Invoicing by business 7-9/ 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/ segment, EUR million 2007 2007 2007 2006 2006 2006 2006 Pharmaceutical Trade 543.0 575.9 563.2 527.7 500.0 529.0 508.1 Healthcare and Dental Trade 62.2 68.5 71.8 75.3 63.0 65.7 71.3 Group Total 605.2 644.4 634.9 603.0 563.0 594.7 579.4 Net sales by business 7-9/ 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/ segment, EUR million 2007 2007 2007 2006 2006 2006 2006 Pharmaceutical Trade 278.3 295.5 291.3 278.6 264.9 280.2 275.0 Healthcare and Dental Trade 55.5 60.7 64.5 65.2 54.1 55.6 61.1 Group Total 333.8 356.1 355.8 343.7 319.0 335.8 336.1 Operating profit by business segment, 7-9/ 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/ EUR million 2007 2007 2007 2006 2006 2006 2006 Pharmaceutical Trade 5.0 4.6 5.1 4.0 4.5 1.8 2.7 Healthcare and Dental Trade 3.4 2.9 3.7 2.9 3.2 0.9 1.2 Group items -0.5 -1.2 -1.0 -1.6 -0.9 -0.6 -0.6 Group total 8.0 6.3 7.8 5.3 6.8 2.1 3.3 Operating profit by business segment excluding one-off items, 7-9/ 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/ EUR million 2007 2007 2007 2006 2006 2006 2006 Pharmaceutical Trade 5.0 4.6 5.1 4.1 4.9 3.9 2.7 Healthcare and Dental Trade 3.4 2.9 3.7 3.1 3.2 1.3 2.8 Group items -0.5 -1.2 -1.0 -1.7 -0.9 -0.6 -0.2 Group total 8.0 6.3 7.8 5.5 7.2 4.6 5.3 Pro forma Pro forma Net sales by market, 1.1.- 1.1.- 1.1.- 1.7.- EUR million 30.09.2007 30.09.2006 31.12.2006 31.12.2006 Finland 426.7 399.2 538.6 270.7 Other Nordic countries 581.6 559.6 751.4 369.6 Other Europe 36.4 30.9 43.2 21.6 Other countries 1.0 1.3 1.5 0.8 Total 1045.7 991.0 1334.7 662.7 Net sales by market, 7-9/ 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/ EUR million 2007 2007 2007 2006 2006 2006 2006 Finland 135.3 143.4 148.1 139.5 130.7 133.5 134.9 Other Nordic countries 187.1 199.6 195.0 191.8 178.3 191.7 189.5 Other Europe 11.3 12.5 12.6 12.3 9.3 10.1 11.6 Other countries 0.1 0.7 0.2 0.2 0.7 0.5 0.1 Total 333.8 356.1 355.8 343.7 319.0 335.8 336.2 Espoo, 22 October 2007 Board of Directors of Oriola-KD Corporation Oriola-KD Corporation Eero Hautaniemi President and CEO Kimmo Virtanen CFO Further information: Eero Hautaniemi President and CEO Tel. +358 (0)10 429 2109 Email: eero.hautaniemi@oriola-kd.com Kimmo Virtanen CFO Tel. +358 (0)10 429 2069 Email: kimmo.virtanen@oriola-kd.com Pellervo Hämäläinen Vice President, Communications and IR Tel. +358 (0)10 429 2497 Email: pellervo.hamalainen@oriola-kd.com Distribution: OMX Nordic Exchange Helsinki Oy Main media Released by: Oriola-KD Corporation Corporate Communications Orionintie 5 FI-02200 Espoo, Finland www.oriola-kd.com |
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