Oriola-KD Corporation's Interim Report for 1 January - 30 June 2016
July 19 2016 - 12:30AM
Oriola-KD Corporation Stock
Exchange Release 19 July 2016 at 8.30 a.m.
Oriola-KD Corporation's Interim
Report for 1 January - 30 June 2016
Financial performance April-June
2016
- Invoicing increased by 7.8 per cent to EUR 887.3
(823.1) million
- Net sales increased by 0.8 per cent to EUR 420.2
(417.1) million
- Adjusted EBITDA increased by 3.5 per cent to EUR
21.3 (20.6) million
- Adjusted operating profit was EUR 14.8 (14.9)
million
- Profit for the period totalled EUR 9.7 (10.9)
million and earnings per share were EUR 0.05 (0.06)
Financial performance
January-June 2016
- Invoicing increased by 6.5 per cent to EUR
1,721.7 (1,616.5) million
- Net sales decreased by 0.8 per cent to EUR 821.5
(828.4) million
- Adjusted EBITDA increased by 5.4 per cent to EUR
41.4 (39.3) million
- Adjusted operating profit was EUR 28.7 (28.1)
million
- Profit for the period totalled EUR 19.8 (18.3)
million and earnings per share were EUR 0.11 (0.11)
Outlook for 2016
Oriola-KD estimates its full-year net sales to
remain at the 2015 level on constant currency basis. Adjusted
operating profit is estimated to remain at 2015 level or to
increase, on a constant currency basis. Full-year net sales in 2015
were EUR 1,626.3 million and adjusted operating profit was EUR 60.8
million.
President and CEO Eero
Hautaniemi:
The first half of 2016 went in line with our
expectations. In Consumer business our growth continued to be
slightly below market, but the sales mix developed favorably
supporting the profitability. In Q2 we succeeded well with the
sales of seasonal products. In Services business volumes continued
to be at good level and we completed the closure of Oulu
distribution center as planned. Healthcare business was somewhat
burdened with start-up costs related to hospital and veterinarian
businesses but dose dispensing business performed according to
plans. July 18 announced acquisition of Pharmaservice Oy in Finland
makes Oriola-KD a leading dose dispensing company in our main
markets Sweden and Finland and is an important step in our way to
build the third business area, Healthcare.
Impact of new ESMA
guidelines
New ESMA (European Securities and Markets
Authority) guidelines on Alternative Performance Measures (APMs)
are effective for the financial year 2016. Oriola-KD presents APMs
to reflect the underlying business performance and to enhance
comparability between financial periods. APMs should not be
considered as a substitute for measures of performance in
accordance with the IFRS. As of Q1 2016, Oriola-KD relabels the
previously referenced "excluding non-recurring items" with
"adjusted". Reporting segments' operating profit is reported
excluding adjustment items. In addition Oriola-KD uses "invoicing"
as the measure to describe the business volume.The reconciliation
of the alternative performance measurements to performance
measurments defined by IFRS are presented at the end of this
interim report.
Key figures |
2016 |
2015 |
Change |
2016 |
2015 |
Change |
2015 |
EUR million |
4-6 |
4-6 1) |
% |
1-6 |
1-6 1) |
% |
1-12 |
Invoicing |
887.3 |
823.1 |
7.8 |
1,721.7 |
1,616.5 |
6.5 |
3,262.2 |
Net
sales |
420.2 |
417.1 |
0.8 |
821.5 |
828.4 |
-0.8 |
1,626.3 |
Adjusted EBITDA |
21.3 |
20.6 |
3.5 |
41.4 |
39.3 |
5.4 |
83.4 |
Adjusted EBITDA % |
5.1 |
4.9 |
|
5.0 |
4.7 |
|
5.1 |
Adjusted operating profit 2) |
14.8 |
14.9 |
-1.1 |
28.7 |
28.1 |
2.3 |
60.8 |
Operating profit |
14.0 |
15.2 |
-7.8 |
27.9 |
26.9 |
3.8 |
62.6 |
Adjusted operating profit % |
3.5 |
3.6 |
|
3.5 |
3.4 |
|
3.7 |
Operating profit % |
3.3 |
3.6 |
|
3.4 |
3.2 |
|
3.8 |
Profit for the period |
9.7 |
10.9 |
-10.8 |
19.8 |
18.3 |
7.9 |
44.5 |
Earnings per share, EUR |
0.05 |
0.06 |
-14.3 |
0.11 |
0.11 |
1.2 |
0.25 |
Net
cash flow from operating activities |
21.7 |
25.6 |
|
-5.1 |
38.9 |
|
85.6 |
Gross
investments, EUR million |
|
|
|
35.5 |
8.1 |
|
20.4 |
|
|
|
|
|
|
|
|
Total
assets |
|
|
|
934.1 |
911.9 |
|
946.9 |
Net
interest-bearing debt |
|
|
|
66.2 |
42.0 |
|
6.6 |
Gearing, % |
|
|
|
35.8 |
25.9 |
|
3.4 |
Net
debt / 12-month EBITDA |
|
|
|
0.8 |
0.5 |
|
0.1 |
|
|
|
|
|
|
|
|
Equity
per share, EUR |
|
|
|
1.02 |
0.90 |
|
1.07 |
Equity
ratio, % |
|
|
|
20.6 |
18.4 |
|
21.1 |
Return
on equity (ROE), % |
|
|
|
21.9 |
28.5 |
|
29.1 |
Return
on capital employed (ROCE), % |
|
|
|
17.6 |
18.7 |
|
19.9 |
Average number of shares, 1000 pcs 3) |
|
|
|
181,389 |
169,984 |
|
177,502 |
|
|
|
|
|
|
|
|
Average number of personnel |
|
|
|
2,419 |
2,299 |
|
2,327 |
Number
of personnel at the end of the period |
|
|
|
2,465 |
2,312 |
|
2,353 |
|
|
|
|
|
|
|
|
1)
Equity-related key figures restated as a result of correction of an
error relating to previous financial periods. Correction was made
in 2015 Financial Statements.
2) Adjustment
items are specified in table "Adjusting items included in Operating
Profit"
3) Treasury
shares held by the company not included |
Disclosure procedure
This stock exchange release is a summary of
Oriola-KD Corporation's Interim Report January-June 2016. The
complete report is attached to this release in pdf format and is
also available on Oriola-KD's website at
www.oriola-kd.com/investors.
Next interim report
Oriola-KD Corporation will publish its results for
the third quarter of 2016 on 20 October 2016.Espoo, 18 July
2016
Board of Directors of Oriola-KD Corporation
Further information:
Eero Hautaniemi
President and CEO
tel. +358 (0)10 429 2109
e-mail: eero.hautaniemi@oriola.com
Sari Aitokallio
CFO
tel. +358 (0)10 429 2112
e-mail: sari.aitokallio@oriola.com
Distribution:
NASDAQ OMX Helsinki Ltd
Key media
Released by:
Oriola-KD Corporation
Corporate Communications
Orionintie 5
02200 Espoo
www.oriola-kd.com
Oriola-KD Corporation's Interim
Report Q2/2016
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Oriola-KD Oyj via Globenewswire
HUG#2029164
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