Orion’s economic responsibility consists of producing economic value added for both shareholders and other stakeholders, such as personnel, customers and suppliers of goods and services. To this end, we develop our operations systematically, utilise our resources efficiently and manage risks. Corporate governance is also part of the economic responsibility of a public company, as well as open and regular communication about the development of our financial performance and the factors affecting it.

A good financial result is necessary to enable the Group to attend to also the other areas of corporate responsibility as a corporate citizen and ensure sustained operational continuity in the future. The better we manage our finances and are able to provide employment, the more the society will benefit of Orion’s economic value added.

Most of the key figures related to economic responsibility are presented in Orion’s consolidated financial statements, which are prepared in accordance with the International Financial Reporting Standards (IFRS). The corporate responsibility report refers to the statements without repeating the figures. We will present some key figures in accordance to the recommendations of the Global Reporting Initiative (GRI) here. The financial statements also provide information on Orion’s current economic objectives and dividend policy.

Management of economic responsibility follows the general guidelines established in Orion’s Corporate Governance Manual. They consist of clear definitions of responsibility, setting and monitoring of objectives and appropriately organised internal control. For more detailed descriptions of Orion’s corporate governance principles, risk management and internal control,  please see Orion’s financial statements and corporate website (www.orion.fi/en).

Goals and performance

Orion aims for profitable growth whilst keeping business risks under control. Despite the challenging economic situation and the changes that have taken place in our business environment over the recent years, the Group has been able to grow steadily, make a good profit and pay good dividends to the shareholders. In 2009, Orion’s operating profit was EUR 207.0 (185.0) million, return on capital employed before taxes was 37.4% (38.5%). Dividends were paid EUR 1.00 per share, representing 93.5% of earnings per share. Of the good and stable financial result, Orion has also paid the taxes due regularly and on time. The Group has also always taken care of its pension commitments in full. 

Long-term economic success of the Group requires continuous ability to ensure competitiveness and cost-effectiveness with right strategy decisions and enhancement of procedures, operational structure and product portfolio. Orion’s growth is based on a competitive product portfolio, which the Group builds by active development of new drugs and diagnostics products in both Orion’s R&D organisation and through wide-ranging cooperation with external parties. In 2009, Orion's R&D expenses totalled EUR 95.2 (90.0) million. The Group also invested some EUR 26.0 (5.0) million in new product rights.

Orion's shareholder base is quite diverse. There have not been any major changes in the ownership structure, and no single shareholder holds a significant portion of the shares. The clearly largest shareholder group comprises of private Finnish individuals. (For more detailed information on the shareholder base, please see the “Investors” section of Orion's website.)  As a public company, Orion fulfils its disclosure obligations diligently. The Group also actively develops its corporate communications, and aims to utilise different communication channels and tools in a versatile yet purposeful manner. Orion focuses on the good quality contents of its financial statements and website to provide capital markets and shareholders with up-to-date information about the Group’s operations and performance. Orion also organises regular meetings with investors in various locations in Finland and abroad. A calendar for investors is accessible under the “Investors” section of the corporate website containing both past and up-coming investor events and roadshows, since 2006.