Orion upgrades full-year outlook for 2016
ORION CORPORATION STOCK EXCHANGE RELEASE 15 JUNE 2016 at 10:20 a.m. EEST
Orion Corporation upgrades the full-year outlook estimate for 2016 provided on 2 February 2016. As to net sales, the year has started better than expected. At the same time, costs have been well under control. Based on the good start for the year the company estimates that the full-year net sales and operating profit will be higher than estimated previously.
The new outlook estimate does not include potential capital gains, such as potential capital gains of about EUR 11 million to the company from the potential sales of Ekokem Corporation's shares owned by the company on the basis of the tender offer for Ekokem Corporation's shares published by Fortum Corporation.
New full-year outlook estimate for 2016, provided on 15 June 2016
Net sales are estimated to be slightly higher than in 2015 (net sales were EUR 1,016 million in 2015).
Operating profit without potential capital gains is estimated to exceed EUR 270 million (operating profit was EUR 267 million in 2015).
Previous full-year outlook estimate for 2016, provided on 2 February 2016
Net sales are estimated to be at similar level to 2015 (net sales were EUR 1,016 million in 2015).
Operating profit is estimated to exceed EUR 240 million.
| Timo Lappalainen |
President and CEO
| Olli Huotari |
SVP, Corporate Functions
Jari Karlson, CFO
tel. +358 50 966 2883
Orionintie 1A, FI-02101 Espoo, Finland
Orion is a globally operating Finnish company developing pharmaceuticals and diagnostic tests - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals, active pharmaceutical ingredients and diagnostic tests. 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 and respiratory for which Orion developes inhaled Easyhaler® pulmonary drugs.
Orion's net sales in 2015 amounted to EUR 1,016 million and the Company had about 3,400 employees. Orion's A and B shares are listed on Nasdaq Helsinki.