Orion upgrades full-year outlook for 2020

ORION CORPORATION STOCK EXCHANGE RELEASE INSIDE INFORMATION  8 JULY 2020 at 19.00 EEST             
         

Orion upgrades full-year outlook for 2020

Orion Corporation upgrades the full-year outlook for 2020, provided on 24 April 2020, for the part regarding operating profit. In 2020, the operating profit is estimated to be slightly higher or higher than in 2019.

Visibility towards the end of the year has improved in various areas of operations. For example, the impaired availability of generic products in Orion‘s portfolio manufactured by other pharmaceutical companies is not expected to have as negative impact to the whole year net sales and operating profit as assumed earlier. Operating expenses, in turn, for the whole year are expected to be somewhat lower than estimated.

The new outlook is based on the assumption that Orion‘s own production can continue normal operations despite the COVID-19 pandemic. This requires that Orion continues to succeed in protecting its employees and employee absence rates do not significantly increase, that personal protective equipment, starting materials, intermediate products and materials are available and that the logistics chains are sufficiently functional.

New full-year outlook, provided on 8 July 2020

Orion estimates that in 2020 net sales will be at a similar level as in 2019 (net sales in 2019 were EUR 1,051 million).

Operating profit is estimated to be slightly higher or higher than in 2019 (in 2019 operating profit was EUR 253 million).

Previous full-year outlook, provided on 24 April 2020

Orion estimates that in 2020 net sales will be at a similar level as in 2019 (net sales in 2019 were EUR 1,051 million).

Operating profit is estimated to be at a similar level as in 2019 (in 2019 operating profit was EUR 253 million).

Orion publishes Half-Year Financial Report for January-June 2020 on Friday 17 July 2020.

Orion Corporation

Timo Lappalainen President and CEO

Olli Huotari SVP, Corporate Functions

                                                                                                                                   
Contact persons:

Jari Karlson, CFO
tel. [phone] 

Tuukka Hirvonen, Investor Relations
tel. [phone]

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology, Finnish heritage rare diseases and respiratory diseases for which Orion develops inhaled Easyhaler pulmonary drugs. Orion's net sales in 2019 amounted to EUR 1,051 million and the company had about 3,300 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.