ORION CORPORATION INTERIM REPORT 1–9/2025 28 OCTOBER 2025 at 12:00 EET Orion Group Interim Report January–September 2025 July–September 2025 Highlights Net sales totalled EUR 423.2 (July–September 2024: 471.3) million Operating profit was EUR 121.0 (202.0) millionNet sales and operating profit of the comparison period include EUR 130 million of major milestone paymentsBasic earnings per share were EUR 0.68 (1.14)Cash flow from operating activities per share was EUR 0.55 (0.48)The outlook for 2025 has been ...

Core Insights - Orion Corporation reported significant growth in net sales and operating profit for the first half of 2025, with net sales increasing by 21.1% to EUR 771.0 million and operating profit rising by 49.8% to EUR 182.5 million [1][4][8] - The company upgraded its outlook for 2025, estimating net sales between EUR 1,630 million and EUR 1,730 million, and operating profit between EUR 400 million and EUR 500 million [4][8] Financial Performance - In Q2 2025, net sales reached EUR 416.5 million, a 26.9% increase from EUR 328.2 million in Q2 2024 [1][4] - EBITDA for Q2 2025 was EUR 118.6 million, up 50.6% from EUR 78.8 million in Q2 2024, representing 28.5% of net sales [1][4] - Basic earnings per share for Q2 2025 were EUR 0.59, compared to EUR 0.37 in Q2 2024, marking a 58.7% increase [1][4] Business Segments - The performance of Nubeqa® was highlighted as a key driver of growth, with both royalty income and product sales showing strong increases [3][4] - The Branded Products and Animal Health divisions also reported double-digit growth, contributing to the overall positive performance [4][5] Research and Development - Research and development expenses increased by 12.5% to EUR 49.1 million in Q2 2025, reflecting the company's commitment to innovation [1][4] - The company opened a new research and development center in Cambridge, UK, and expanded collaborations in various business areas [6][7] Market Outlook - The outlook for 2025 anticipates continued growth in Nubeqa® royalties and product sales, although predicting exact levels remains challenging [12][14] - The Branded Products division is expected to grow, driven by the Easyhaler® product portfolio and other products, while the Animal Health division is anticipated to see slight growth [13]

Core Insights - Orion is hosting its Capital Markets Day on May 22, 2025, in Helsinki, focusing on its growth strategy and financial objectives without announcing new targets [1][5] - The company has three biologics assets in late research phases for immuno-oncology, with plans to initiate clinical phase I trials within the next 12 to 24 months [3][7] - Orion's Easyhaler® product portfolio for asthma and COPD is expected to exceed EUR 300 million in peak annual sales, driven by a shift towards dry-powder inhalers due to lower CO2 emissions [4][7] Company Overview - Orion is a Nordic pharmaceutical company with over a hundred years of experience, developing and marketing human and veterinary pharmaceuticals [6] - The company reported net sales of EUR 1,542 million in 2024 and employs approximately 3,700 professionals globally [6]