Q2 2024 Oriola Oyj Earnings Call Transcript
Key Points
- Net sales grew by 13% to EUR 440 million, driven by both distribution and wholesale segments.
- Adjusted EBIT improved by 53% to EUR 5.1 million, indicating better profitability.
- Lower operating expenses and freight costs contributed to profitability improvement.
- The ERP and warehouse management investment is progressing as planned.
- Oriola Corp (FRA:O5O) has a strong financial position with a significant reduction in interest-bearing debt.
- The Swedish Competition Authority prohibited the sale of Svensk dos AB, impacting strategic plans.
- Volumes in the Finnish market have declined, affecting overall performance.
- Adjusted EBIT in the distribution segment, excluding Swedish dose, declined slightly.
- Kronans Apotek's adjusted EBIT declined significantly from EUR 2.3 million to EUR 0.3 million.
- Equity ratio has declined from 21.2% to 17.2%, indicating a weaker balance sheet.
Good morning, everyone, and a warm welcome to Oriola's Q2 results webcast. I am Tua Stenius-Ãrnhjelm from Oriola's Investor Relations. With me today, I have our CEO, Katarina Gabrielson, and CFO, Timo Leinonen.
Good morning.
After the presentation, we open up for your questions, and you can start posting them to us already during the presentation. As a kind reminder, in the Q&A, we will focus on questions relating to Oriola's business and financial development. We can and will answer questions on Kronans Apotek, but only within a limited scope.
Finally, please note that we are also recording this webcast, and the recording will be available on our website later today. Before handing over to Katarina, here is the customer
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