Oriola Corporation Half year Financial Report January June 2018

Transcription

1 Oriola Corporation Half year Financial Report January June 18 July 1

2 Oriola Q2 Strong Invoicing and Net Sales growth Online sales continued to grow faster than the market in Sweden Investing in 17 % of shares in Swedish online medical center Doktor.se. Product picking and delivery accuracy equal to that preceding the ERP system change in Finland Growing wholesale volumes generated extra cost Enköping distribution center automation project progress as planned 2

3 Oriola Key Figures continuing operations Invoicing Net sales Adjusted EBIT Q1 Q2 H2 Q2/ adjusted EBIT at comparable EUR/SEK rate EUR 8.6 million 3

4 Adjusted EBIT Q2 continuing operations Adjusted EBIT, Quarters Adjusted EBIT Q2 Q3 Q4 Q1 Q2 Q2 Consumer Services Healthcare Group items Q2 Q2/ adjusted EBIT at comparable EUR/SEK rate EUR 8.6 million 4

5 Business Area January June

6 Consumer Comprehensive health and wellbeing offering for consumers Offers expert advice as well as an extensive selection of products in own Kronans Apotek pharmacies as well as wide range of health and wellbeing products in Hehku shops in Finland Consistent service experience throughout all service channels, from local pharmacies or shops to online services Pharmacy market in Sweden 17 % 4.2 BEUR 9 % 16 % 4.2 BEUR 83 % Oriola/Kronans Apotek Others 75 % Rx OTC Source: Apoteksförening TG 6

7 Swedish Pharmacy retail market Pharmacies Market share 388 Apotek Hjärtat & CURA 387 3% 397 Apoteket % 4% 4% 31% Kronans Apotek Apoteksgruppen % Lloyds Apoteket 79 32% Others Pharmacies 21 Established net 21 - Established net Oriola/Kronans Apotek Apoteket Apotek Hjärtat & CURA Apotea Others Lloyds Apoteket Apoteksgruppen Source: Apoteksförening 7

8 Consumer January June continuing operations Adjusted EBIT Pharmacy market grew by 9.6% in Sweden. Online sales grew by 38% to 8% of the market Net sales increased by 4.8% in SEK Online sales grew faster than market (+64%) and was 2.6% of total sales Share of OTC and traded goods of net sales 25.8 (26.6)% Hehku result and FX impacted EBIT by EUR -3.3 million (Q2: EUR -1.8 million) Q2 Q Q4 Q1 6. Q2 8

9 Hehku focuses on operations Total 18 stores and online shop, one store opened in April First stores were opened on 25 January Focus on retail expertise, chain operations and online sales Hehku concept is well appreciated by customers, NPS continues at strong level 9

10 Investment in online medical center Doktor.se Digital healthcare market is growing fast in Sweden Doktor.se is the second largest online medical center in Sweden Easy customer journey from diagnosis to medication directly through mobile app Oriola owns 17% of the shares 1

11 Services Focuses on long-term customer relationship and wide service offering for BtoB customers Provides wholesale and logistics services with wide range of expert services for pharmaceutical companies, pharmacies, vets and grocery trade Offers customized wholesale services of OTC and traded goods in Sweden Provides wide range of health and wellbeing products and staffing services for Finnish pharmacies Finland Wholesale Sweden Wholesale 57 % 2.3 BEUR 43 % Oriola 59% 4.2 BEUR 41% Oriola Others Others LTK and Oriola estimate Reveal and Oriola estimate 11

12 Services January June continuing operations Pharmaceutical market growth: Sweden 3.3% and Finland 9.1% Net Sales increased by 8.3% and in constant currency by 12.3% Profitability was impacted by volume-driven extra staffing and high capacity-utilization costs in Sweden In Finland ERP related additional impact in Q2 was EUR -1.8 million (EUR -2.3 million in Q1) Adjusted EBIT Q2 Q3 Q4 Q1 Q2 12

13 Healthcare Pharmaceutical distribution and dose dispensing services for public and private healthcare providers Dose dispensing market ca. 2, patients in Sweden, 45, in Finland Oriola dose dispensing cover services for 7, persons in Sweden and Finland, out of which more than 5, patients are in Sweden Market share dose dispensing Finland 7 % 4 % 3 MEUR 45 % Oriola Pharmac YA Sweden 25 % 39 % 23 MEUR Oriola Apoteket AB Apotekstjänst 44 % Pharma Dos 36 % Oriola estimate 13

14 Healthcare January June continuing operations Net Sales grew by 48%, and in constant currency by 55% Growth driven by Swedish market Good development continued, making a breakeven result in Q2 and positive half year Number of dose dispensing customers 7, 2 Adjusted EBIT Q2 Q3 Q4 Q1 Q2-2 14

15 Key Figures January June

16 continuing operations Key Figures Change % Change % 1-12 Invoicing ,745. 1, ,336.3 Net sales ,527.7 Adjusted EBITDA Adjusted EBIT EBIT Profit for the period Cash flow from operations Net interest bearing debt Gearing %

17 Cash flow including discontinued operations Quarterly net cash flow from operating activities H1 change in cash Q3/216 Q4/216 Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ Cash Q4 Operating activities Investing activities Financing activities Cash Q2 17

18 Net Interest-Bearing Debt including discontinued operations Net interest-bearing debt 3 June Bank loans (syndicated & term) 31 Dec Commercial papers Advance payment from pharmacies Other Cash and cash equivalents Q3/216 Q4/216 Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ Net interest-bearing debt Sold trade receivables Gearing, %

19 Operating environment and Outlook for

20 Outlook Adjusted EBIT of continuing operations on constant currency basis is estimated to increase from the level (unchanged). 2