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Yahoo
12-05-2025
- Business
- Yahoo
Aspo Plc's Interim Report, January 1 – March 31, 2025: Strong start for year 2025 with continued profitability improvement
Aspo Plc Interim Report May 12, 2025 at 9:00 amAspo Plc's Interim Report, January 1 – March 31, 2025: Strong start for year 2025 with continued profitability improvement This is a summary of the Interim Report January 1 – March 31, 2025 of Aspo Plc. The complete report is attached to this release and available at Figures from the corresponding period in 2024 are presented in brackets. January–March 2025 Net sales increased to EUR 151.2 (132.7) million Comparable EBITA grew to EUR 8.8 (5.1) million, 5.8% (3.8%) of net sales. The comparable EBITA of ESL Shipping was EUR 4.1 (2.7) million, Telko EUR 4.4 (2.3) million, and Leipurin EUR 1.5 (1.2) million EBITA was EUR 7.7 (-2.9) million. EBITA of ESL Shipping was EUR 3.0 (-5.0) million, Telko EUR 4.4 (2.3) million, and Leipurin EUR 1.5 (1.2) million Comparable ROE was 10.6% (4.9%) Comparable earnings per share were EUR 0.13 (0.09) Free cash flow was EUR -4.4 (-3.5) million driven by investments ESL Shipping and SSAB agreed in March 2025 on a multi-year extension of a significant sea transport agreement Guidance for 2025 Aspo Group's comparable EBITA is expected to be EUR 35 - 45 million in 2025 (EUR 29.1 million in 2024). Assumptions behind the guidance Aspo's operating environment is estimated to remain challenging during the first half of the year and to gradually improve during the second half of the year. Increased defense and infra spending in Europe is expected to support the economic recovery towards the end of the year. However, recent trade tensions and high tariffs imposed or planned by the USA, EU and China have increased economic uncertainty and may negatively impact economic growth and global trade. Aspo's profit improvement for the year is expected to come mainly from the profit generation of the Green Coaster vessels, from Telko's and Leipurin's acquisitions completed in 2024, as well as from various intensified profit improvement actions throughout Aspo's businesses. The higher end of the expected comparable EBITA range is expected to be achieved if all the planned profit improvement measures are successful, and there is a clear economic recovery during the second half of the year. The lower end of the range may be realized if the economic recovery is further delayed, or significant volumes would be lost or margins impacted negatively due to some unforeseen negative events. Recent trade tensions, including possible tariffs, may have an indirect negative impact on the volumes and price levels of Aspo's businesses. Direct impacts are expected to be modest. For ESL Shipping, demand is expected to be weak overall during the first half of the year, with fairly low contractual volumes combined with low spot market pricing. Volumes are expected to slowly revive during the second half of the year. For Telko, overall stable market development is expected going forward, with demand slowly picking up. After successfully completing three acquisitions in 2024, the focus in 2025 is on integrating the acquired companies, and securing organic growth and positive profitability development. Acquisition-related expenses are expected to be at a much lower level in 2025 than in 2024. For Leipurin, the market is expected to be stable. Opportunities for growth remains in the food industry, where the addressable market for Leipurin is multiple compared to bakery. Leipurin remains in a good position to continue improving its profitability. Key figures 1-3/2025 1-3/2024 1-12/2024 Net sales, MEUR 151.2 132.7 592.6 EBITA, MEUR 7.7 -2.9 21.2 Comparable EBITA, MEUR 8.8 5.1 29.1 Comparable EBITA, % 5.8 3.8 4.9 Profit for the period, MEUR 3.9 -6.0 7.3 Comparable profit for the period, MEUR 5.0 2.0 15.2 Earnings per share (EPS), EUR 0.09 -0.16 0.14 Comparable EPS, EUR 0.13 0.09 0.39 Free cash flow, MEUR -4.4 -3.5 -36.1 Free cash flow per share, EUR -0.1 -0.1 -1.2 Comparable ROCE, % 8.5 6.4 8.1 Return on equity (ROE), % 8.2 -15.2 4.4 Comparable ROE, % 10.6 4.9 9.2 Invested capital, MEUR 419.9 320.2 403.7 Net debt, MEUR 198.2 131.5 188.0 Net debt / comparable EBITDA, 12 months rolling 3.3 2.3 3.2 Equity per share, EUR 5.18 4.77 5.13 Equity ratio, % 36.6 38.6 36.9 The calculation principles of key figures are included in Aspo's Board of Directors' report for the year 2024. The figures presented in this interim report have been individually rounded or calculated based on exact figures so the figures may not add to rounded totals and may differ from previously published figures. Rolf Jansson, CEO of Aspo Group, comments on the first quarter of 2025:Profitability improvement is at the top of Aspo's agenda in 2025. We aim to capture the benefits of the completed acquisitions and capex investments made during previous years. In addition, we will focus on organic growth and performance improvement actions, tightly managed across all our businesses. Aspo continued to grow and improve its profitability during the first quarter of 2025. Aspo's net sales grew by 13.9% compared to the first quarter of 2024 which was primarily driven by the acquisitions Telko and Leipurin made in 2024. Both Telko and Leipurin also achieved organic sales growth during the quarter. Net sales of ESL Shipping declined due to a relatively low level of industrial activity. Comparable EBITA was EUR 8.8 million compared to EUR 5.1 million in the corresponding period in the previous year. All businesses improved their profitability. It is positive to see that the intensified focus on profitability improvement is widely yielding results. Despite weak spot market pricing and somewhat softer than expected contractual freight volume demand, ESL Shipping was able to improve its comparable EBITA to EUR 4.1 (2.7) million, driven by performance improvement efforts, including the expiration of expensive time-charter agreements. The profitability of ESL Shipping in the corresponding period in the previous year was weakened due to harsh ice conditions and political strikes. Telko's comparable EBITA of EUR 4.4 (2.3) million grew due to the contribution from last year's completed acquisitions, continued organic growth, and the absence of M&A costs. Leipurin's comparable EBITA was EUR 1.5 (1.2) million. Leipurin's profitability improvement relates specifically to the acquisition in Sweden in 2024 and measures improving supply chain efficiency in the Swedish operations. ESL Shipping and SSAB agreed in March 2025 on a multi-year extension of the agreement covering SSAB's inbound raw material sea transports within the Baltic Sea and from the North Sea. In addition, the agreement covers the transport of SSAB's fossil-free sponge iron produced with HYBRIT technology including the possibility of fossil-free shipments. The transport volume is estimated to be 6–7 million tonnes annually. This was an important milestone in ESL Shipping's strategy to support Nordic industrials in their green transition. Leipurin completed the transaction to take over the food ingredients distribution business of Kartagena UAB in February 2025. The acquired business is expected to increase Leipurin's net sales by close to EUR 2 million on an annual basis. We are working to achieve Aspo's financial ambition of reaching EUR 1 billion of net sales and EBITA of 8% in 2028. The total investment program of EUR 300–350 million for 2024–2028 is well underway, focusing on acquisitions of Telko and Leipurin, and investments in the new capacity of ESL Shipping. Aspo's vision is to form two separate companies, Aspo Compounder (Telko and Leipurin) and Aspo Infra (ESL Shipping), before Aspo turns 100 years old in 2029. During 2025, our focus is on profitability improvement. We will benefit from the Green Coaster investments made in 2021–2024, the acquisitions completed during 2024, and the vast array of profitability improvement efforts across the Group. Despite the focus on short-term profitability improvement, we continue to have a parallel long-term strategic perspective to reach the financial ambition of Aspo as well as our portfolio vision. Financial performance and targets Aspo's long-term financial targets are: Minimum increase in net sales: 5–10% a year Comparable EBITA of 8% Return on equity: more than 20% Net debt to comparable EBITDA, rolling 12 months ratio below 3.0 At a business level, ESL Shipping's long-term comparable EBITA target is 14%, Telko's 8% and Leipurin's 5%. In January–March 2025, Aspo's net sales grew by 13.9% to EUR 151.2 (132.7) million. The comparable EBITA rate stood at 5.8% (3.8%). Comparable return on equity was 10.6% (4.9%) and the net debt to comparable EBITDA, rolling 12 months ratio was 3.3 (2.3). Espoo, May 12, 2025Aspo PlcBoard of DirectorsNews conference for analysts, investors and media News conference for analysts, investors and media will be held at Sanomatalo, Flik Studio Eliel, Töölönlahdenkatu 2, Helsinki on May 12, 2025, at 12.00 p.m. The event is also open to private investors, and participants are requested to register beforehand by emailing viestinta@ The interim report will be presented by CEO Rolf Jansson and CFO Erkka Repo. The event will be held in English, and it can also be followed as a live webcast at Questions can be asked after the presentation through conference call connection. In order to receive the phone numbers and a identifier for the conference call, participants are requested to register using this link: A recording of the event will be available after the event at the company's website For more information, please contact:Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, Distribution:Nasdaq HelsinkiKey Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 17 different countries, and it employs approximately 800 professionals. Attachment Aspo-Interim-Report-Q1-2025
Yahoo
05-05-2025
- Business
- Yahoo
Aspo to publish its Interim Report for January-March 2025 on May 12, 2025
Aspo Plc Press Release May 5, 2025 at 3.15 p.m. Aspo to publish its Interim Report for January-March 2025 on May 12, 2025 Aspo Plc will publish Interim Report for January-March 2025 on Monday, May 12, 2025, at approximately 9.00 a.m. EEST. News conference for analysts, investors and media will be held at Sanomatalo, Flik Studio Eliel, Töölönlahdenkatu 2, Helsinki on May 12, 2025, at 12.00 p.m. The event is also open to private investors, and participants are requested to register beforehand by emailing viestinta@ The interim report will be presented by CEO Rolf Jansson and CFO Erkka Repo. The event will be held in English, and it can also be followed as a live webcast at Questions can be asked after the presentation through conference call connection. In order to receive the phone numbers and a identifier for the conference call, participants are requested to register using this link: A recording of the event will be available after the event at the company's website Aspo Plc For further information, please contact: Susanna Hietanen, Communications Director, Aspo Plc, tel. +358 50 3595 701, Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 17 different countries, and it employs approximately 800 professionals. Sign in to access your portfolio
Yahoo
30-04-2025
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Harvia will publish its Interim Report for January−March 2025 on Wednesday, 7 May 2025 at around 9:00 a.m. EEST
Harvia Plc press release 30 April 2025 at 9:00 a.m. EESTHarvia will publish its Interim Report for the period of January−March 2025 on Wednesday, 7 May 2025 at around 09:00 a.m. Finnish time. The stock exchange release and the presentation material will be available after publishing at Harvia will hold a webcast for analysts, investors and media on 7 May 2025 at 11:00 a.m. EEST. The conference will be held in English. Harvia's CEO Matias Järnefelt and CFO Ari Vesterinen will host the event. The webcast can be followed at A recording of the webcast will be available after the event on the company's website HARVIA PLC For further information, please contact:CFO Ari Vesterinen, tel. +358 40 5050 440Harvia is one of the leading companies operating in the sauna market globally, as measured by revenue. Harvia's brands and product portfolio are well known in the market, and the company's comprehensive product portfolio strives to meet the needs of the international sauna market of both private and professional customers. Harvia's revenue totaled EUR 175.2 million in 2024. Harvia Group employs approximately 700 professionals in Finland, United States, Germany, Romania, China and Hong Kong, Austria, Italy, Estonia, and Sweden. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility. Read more: in to access your portfolio
Yahoo
24-04-2025
- Business
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Verkkokauppa.com Oyj Interim report 1 January – 31 March 2025: Operational efficiency led to significant profit improvement
INTERIM REPORT for 1 January – 31 March 2025 Oyj: Operational efficiency led to significant profit improvement Oyj INTERIM REPORT 24 April 2025, 8:00 a.m. EEST arranges two virtual news conferences on a result publication day. The news conference in Finnish will be held at 10:00 am Finnish time and in English at 11:00 am Finnish time. Details of the events and how to participate can be found at the end of this release. This is a summary of Interim Report for 1 January – 31 March 2025. The complete report is attached to this release and also available at Unless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year (reference period). Figures are unaudited. January–March 2025 in brief Revenue grew by 2.4 percent and was EUR 110.5 million (108.0) Gross profit was EUR 20.8 million (18.7) or 18.8 percent of the revenue (17.3%) Operating result (EBIT) was EUR 3.2 million (-0.4) or 2.9 percent of revenue (-0.4%) Comparable operating result (comparable EBIT) was EUR 3.2 million (0.5) or 2.9 percent of revenue (0.5%) Net result was EUR 2.0 million (-1.0) Earnings per share were EUR 0.04 (-0.02) Investments were EUR 0.3 million (0.3) Operating cash flow was EUR -14.7 million (-13.0) KEY RATIOS 1-3/2025 1-3/2024 Change 1-12/2024 EUR million Revenue 110.5 108.0 2.4 % 467.8 Gross profit 20.8 18.7 2.1 MEUR 75.8 Gross margin, % 18.8% 17.3% 1.5 pp 16.2% EBITDA 4.9 1.3 3.6 MEUR 7.5 EBITDA, % 4.4% 1.2% 3.2 pp 1.6% Operating result 3.2 -0.4 3.6 MEUR 0.6 Operating margin, % 2.9% -0.4% 3.3 pp 0.1% Comparable operating result 3.2 0.5 2.7 MEUR 1.8 Comparable operating margin, % 2.9% 0.5% 2.4 pp 0.4% Net result 2.0 -1.0 3.0 MEUR -0.8 Investments 0.3 0.3 0.0 MEUR 1.8 Operating cash flow -14.7 -13.0 -1.7 MEUR 12.9 FINANCIAL GUIDANCE FOR 2025 expects its revenue and comparable operating result for 2025 to increase. In 2024, the company's revenue was EUR 467.8 million and comparable operating result was EUR 1.8 million. Guidance includes uncertainties related to changes in purchasing power and consumer behavior. business is seasonal and the company's revenue and operating profit depend largely on the sales in the fourth quarter. CEO PANU PORKKA'S REVIEW had a strong start to the year with revenue returning to growth. First quarter revenue was EUR 110.5 million (108.0), up by 2.4% compared to the previous year. The revenue increased in the company's strategic focus areas of e-commerce and new markets. The company's key categories Entertainment and IT in particular showed growth as a result of successful commercial measures. Growth in the Entertainment category was driven by the transition to high definition television broadcasts in Finland at the beginning of April, which resulted in higher TV sales. Strategically important own brands' revenue grew by 36 percent and represented 6.7 percent of the revenue. Systematic streamlining of operational activities significantly improved the company's profitability. Gross margin increased to 18.8 percent (17.3%). The margin was strengthened by efficient inventory turnover, improved commercial terms and successful dynamic pricing. Comparable fixed costs decreased by 2.4% year-on-year as planned. The comparable operating result increased to EUR 3.2 million (EUR 0.5 million), representing 2.9% (0.5%) of revenue. The company's financial position remained solid. The inventory levels continued to be at healthy levels throughout the quarter, with a build-up toward the end of the quarter to ensure readiness for the upcoming season. The implementation of the strategy is progressing according to plan. The online shift continues with an increasing share of fast deliveries. Fast deliveries increased by 21 percent and the continuous improvement of the customer experience was reflected in e-commerce's highest customer loyalty in Finland (EPSI Rating). New market openings, the increasing use of artificial intelligence and automation in operations as well as operational improvements strengthen the company's position for continued profitable growth when the market situation improves. FINANCIAL DEVELOPMENT REVENUE AND PROFITABILITY EUR million 1-3/2025 1-3/2024 Change 2024 Revenue 110.5 108.0 2.4 % 467.8 Operating result 3.2 -0.4 3.6 MEUR 0.6 Operating margin, % of revenue 2.9% -0.4% 3.3 pp 0.1% Items affecting comparability - -0.9 0.9 MEUR -1.2 Comparable operating result 3.2 0.5 2.7 MEUR 1.8 Comparable operating margin, % of revenue 2.9% 0.5% 2.4 pp 0.4% Revenue distribution Revenue, EUR million 1-3/2025 1-3/2024 Change, % Customer segments Consumers 73.3 73.1 0.1% B2B (incl. wholesale) 37.3 34.8 7.0% Sales channels Online 74.2 71.4 3.9% Offline 36.3 36.6 -0.7% Product categories Core categories* 91.4 88.3 3.6% Other categories 19.1 19.7 -3.0% Own brands** 7.4 5.5 36.2% Website visits, million 17.9 17.4 2.4%Percentage of total revenue 1-3/2025 1-3/2024 Change, pp Customer segments Consumers 66.3 % 67.7 % -1.5 B2B (incl. wholesale) 33.7 % 32.3 % 1.5 Sales channels Online 67.1 % 66.1 % 1.0 Offline 32.9 % 33.9 % -1.0 Product categories Core categories 82.7 % 81.8 % 0.9 Other categories 17.3 % 18.2 % -0.9 Own brands 6.7 % 5.0 % 1.7 *Core categories include five main categories: IT, Entertainment, Mobile devices, SDA, and MDA.**Own brands are included in Core and other categories accordingly. JANUARY–MARCH 2025Operating EnvironmentThere was no significant change in the operating environment and a clear market recovery was not seen in the first quarter of the year. Consumers' confidence in their own economy remained low and the time was regarded unfavorable for large purchases. However, there was a cautious recovery in online visits, especially towards the end of the reporting period. Revenue Revenue increased by 2.4 percent to EUR 110.5 million (108.0). The revenue growth was supported by increased sales in the IT category to consumer and business customers. The transition of televisions channels to high-definition broadcasting boosted sales of televisions. In addition, international sales grew significantly in the first quarter of the year. Sales to consumers increased by 0.1 percent to EUR 73.3 (73.1) million, accounting for 66.3 percent (67.7%) of total revenue. B2B sales increased by 7.0 percent to EUR 37.3 million (34.8), accounting for 33.7 percent (32.3%) of total revenue. Online sales increased by 3.9 percent to EUR 74.2 million (71.4), accounting for 67.1 percent (66.1%) of total revenue. The store sales declined by 0.7 percent to EUR 36.3 million (36.6). The share of the store sales was 32.9 percent (33.9%) of total revenue. Core categories' sales increased by 3.6 percent to EUR 91.4 million (88.3), accounting for 82.7 percent (81.8%) of total revenue, whereas other categories declined by 3.0 percent to EUR 19.1 million (19.7), accounting for 17.3 percent (18.2%) of total revenue. Own brands' sales grew by 36.2% to EUR 7.4 million (5.5), accounting for 6.7% (5.0%) of total revenue. The growth came particularly from home appliances, IT accessories and mobile devices. Revenue from customer financing services totaled EUR 1.9 million (2.1), including interest income, fees and commissions. Net credit losses, including the change in the credit loss provision from the consumer financing, were EUR 0.7 million (0.9). Result Gross margin increased to 18.8 percent (17.3%). The gross margin was strengthened by efficient inventory turnover, improved commercial terms and successful dynamic pricing. Personnel expenses decreased by 2.7 percent to EUR 8.8 million (9.0). Other operating expenses decreased by 13 percent and amounted to EUR 7.5 million (8.6). Comparable other operating expenses decreased by 2.2 percent to EUR 7.5 million (7.6). Fixed costs totaled EUR 16.2 million (17.6), decreasing by 7.7 percent from the comparison period. Comparable fixed costs decreased by 2.4 percent to EUR 16.2 million (16.6). The cost reduction was due to the reorganization at the end of the previous year and adjusting fixed costs to the operating environment. The company's operating result (EBIT) was EUR 3.2 million (-0.4), up by EUR 3.6 million. Comparable operating result (comparable EBIT) was EUR 3.2 million (0.5), up by EUR 2.7 million from the comparison period. Net result for the period was EUR 2.0 million (-1.0). Earnings per share were EUR 0.04 (-0.02). FINANCE AND INVESTMENTS In January-March 2025, operating cash flow totaled EUR -14.7 million (-13.0). The operating cash flow before the change in working capital was EUR 4.9 million (1.3). The company's net financial expenses were EUR -0.5 million (-0.3). Investments were EUR 0.3 million (0.3), mainly related to improvement of operational efficiency and customer experience. Investments included capitalized wages and salaries at the amount of EUR 0.2 million (0.2). At the end of March, the company had EUR 19 million in bank loans and an unutilized EUR 25 million revolving credit facility, which are valid until June 2027. The principal of the bank loan is amortized every six months. PERSONNEL At the end of March 2025, the total number of employees was 595 (644). This includes both full and part-time employees. The company renewed and streamlined its organizational structure in autumn 2024. CORPORATE SUSTAINABILITY In January 2025, published its renewed Sustainability Program, which focuses on promoting sustainable consumption and circular future, ensuring responsible operations and supply chains, fostering wellbeing and success of own personnel, and maintaining exemplary business conduct. Responsible operations are a key part of strategy and vision to create a new normal for buying and owning. The company promotes sustainable consumption by selling according to need, providing customers with comprehensive product information, and extending product life cycles through means of circular economy. In addition, in January, the company announced its commitment to the Science-Based Targets (SBTi) climate initiative to reduce its indirect emissions in line with the 1.5 degree target of the Paris Agreement. With the SBTi commitment, the company will focus on reducing indirect emissions in the value chain by engaging suppliers and partners in climate work. The company's goal set in 2021 is on track to reduce its own emissions to zero by the end of 2025. In 2024, the company's own emissions (scope 1,2) decreased by 61 percent from the previous year and were low: 38 tCO2. Emissions from the entire value chain (scope 1,2,3) were 194,923 tCO2 in 2024. In March, published a sustainability report for the financial year 2024, which was prepared in accordance with the requirements set by the European Sustainability Reporting Standards (ESRS) and published as part of the Report of the Board of Directors. The Statement extensively reviews the company's management practices in relation to sustainability topics identified as material and presents the company's sustainability targets and progress towards them in 2024. In addition, the Sustainability Statement includes emissions reporting covering the company's entire value chain and extensive personnel-related key figures. In 2024, the company's return rate remained low, at just 1.0 percent, including both change-of-minds and service returns. Circular economy services were expanded to new product categories and sales of used products increased by 19 percent. For its own personnel, efforts were made to promote equality, non-discrimination and diversity, and to develop expertise, focusing especially on coaching leadership. STRATEGY continues as a forerunner in the market with the vision of creating the new normal for buying and owning. The cornerstones of strategy are growing the current business faster than the market, new openings, such as assortment expansion, own brand products and new markets, significant growth of the services business, and stronger profitability by continuously developing our own operations and platform. Growing current business faster than the market The company aims to strengthen its market leadership by accelerating the online shift by making buying fast, extremely convenient and affordable. As the only operator in Finland, already delivers to 1.7 million consumers around the clock in one hour, every day of the week. The company continues to optimize product flows, develop the distribution network and further automate the intralogistics to enable the continued development of the fastest deliveries on the market. New openings: assortment expansion, own brand products and new markets During the strategy period, the company plans to expand the assortment with a special focus on product areas that are optimally suited for fast deliveries and platform. The company will continue pilots in new market areas also outside Finland, making versatile use of both own platform and selected partners. New operating models, automation, as well as data will enable cost-efficiency and scalability. Significant growth of the services business seeks to offer consumers sustainable alternatives for buying products. The company's current customer financing service, Tili, combined with the trade-in service, provides a strong foundation for new value-added services and product openings. The company's current trade-in service and the assortment of recycled products are expanding. During the strategy period, will explore new subscription-based services for the market. Stronger profitability by continuously developing own operations and platform The company leverages artificial intelligence (AI) and data to operate goods flows, to streamline operations and to provide superior personalized customer experience. own flexible platform and extensive software development expertise enable versatile utilization of leading technologies from selected partners and are the basis for the capabilities that will be built during the strategy period. long-term financial targets for the strategy period 2024-2028 are as follows: Annual revenue growth (CAGR) of over 5 percent, faster than the market Annual operating profit margin of over 5 percent by the end of the strategy period Fixed costs to less than 10 percent of revenue by the end of the strategy period To pay out 60-80 percent of annual net profit in quarterly growing dividends LONG-TERM INCENTIVE PLANS has a share-based incentive plan (Performance Share Plan 2023–2027) for the company's CEO and Management Team. The Performance Share Plan 2023–2027 consists of three performance periods. On 12 February 2025, the Board of Directors decided to commence the third matching period, covering the years 2025–2027. The performance criterion for the third performance period 2025–2027 is Total Shareholder Return (TSR). Performance rewards for the 2025–2027 period will be paid partly in company shares and partly in cash by the end of May 2028. The plan includes a total of eight individuals (the CEO and all members of the management team). The maximum number of shares to be awarded for the third performance period is 340,000 shares, including the cash portion. The final number of shares depends on the number of shares acquired by participants and the achievement of the TSR levels. ANNUAL REPORTING PACKAGE 2024 has published its Annual Reporting package for 2024. The reporting package includes the Financial Statements and the Report of the Board of Directors including the Sustainability Statement, the Corporate Governance Statement, the Remuneration Report and the Company Brochure. LEGAL DISPUTES AND POSSIBLE LEGAL PROCEEDINGS In February 2025, the company announced the decision of the Helsinki Administrative Court, which upheld the administrative penalty imposed on by the Data Protection Ombudsman's Penalty Panel in March 2024. The company has applied for leave to appeal from the Supreme Administrative Court. The company recognized the provision for the penalty in full in the first quarter of 2024. The provision was reported as an item affecting comparability. ANNUAL GENERAL MEETING 2025 The Annual General Meeting was held as a remote meeting in Helsinki on 8 April 2025. The Annual General Meeting adopted the Annual Accounts for the financial year 2024 and decided not to distribute a dividend, discharged the members of the Board of Directors and the CEO from liability for the financial year 2024, approved the Remuneration Report and adopted the Remuneration Policy, and authorized the Board of Directors to decide on the repurchase and issuance of own shares. In addition, the Annual General Meeting approved the proposals of the Shareholders' Nomination Board concerning the election and remuneration of the Board of Directors. Following the proposal of the Board of Directors, PricewaterhouseCoopers Oy was elected as the company's auditor and assurer of sustainability reporting. Mikko Nieminen, APA, acts as the auditor with principal responsibility. Composition of the Board of Directors 2025 The Annual General Meeting confirmed the number of board members to be seven, and the following persons were re-elected: Robin Bade, Henrik Pankakoski, Kati Riikonen, Samuli Seppälä, Irmeli Rytkönen, Enel Sintonen and Arja Talma. At the constitutive meeting of the Board of Directors held after the Annual General Meeting, Arja Talma was elected Chair of the Board. The compositions of the Board committees were decided to be as follows: members of the Remuneration Committee are Arja Talma (Chair), Robin Bade and Henrik Pankakoski. Members of the Audit Committee are Enel Sintonen (Chair), Arja Talma (Vice Chair), Kati Riikonen and Irmeli Rytkönen. On 8 April 2025, published a stock exchange release on the decisions of the Annual General Meeting and the constitutive meeting of the Board of Directors. The release is available on the company's website. Dividend The Annual General Meeting of Oyj decided on 8 April 2025, that the company will not distribute dividends for the financial year 2024. FLAGGING NOTIFICATIONS On 26 March 2025, the company received a notification from Evli Plc pursuant to Chapter 9, Section 5 of the Securities Markets Act, according to which the combined direct ownership of the company's shares and votes by Evli-Rahastoyhtiö Oy (100% owned by Evli Plc) has exceeded the five (5) percent threshold. According to the notification, Evli-Rahastoyhtiö Oy directly held a total of 2,502,380 shares in Oyj on 25 March 2025, an amount that corresponds to 5.52 percent of all shares in the company. SHARE TRADING AND SHARES shares (VERK) in Nasdaq Helsinki stock exchange in January-March 2025: No. ofshares traded Share of no. of total shares, % The total value of traded shares, EURmillion Last, EUR High, EUR Low, EUR Weighted average,EUR 4,624,086 10.2% 8,677,719 1.96 2.29 1.30 1.88 market capitalization and shareholders 31 March 2025 Market capitalization (excl. own shares), EUR million 88.6 Number of shareholders (of which nominee shareholders) 18,940 (8) Nominee registrations and direct foreign shareholders, % 10.12 Households, % 50.83 Financial and insurance corporations, % 17.74 Other Finnish investors, % 21.31 At the end of March 2025, the company's largest shareholders according to the shareholder register held by Euroclear Finland Ltd were Samuli Seppälä (29.4%), Varma Mutual Pension Insurance Company (9.6%), Evli Finnish Small Cap Fund (5,6 %), Ilmarinen Mutual Pension Insurance Company (4.8%) and Mandatum Life Insurance Company Limited (4.7%). On 31 March 2025, the share capital was EUR 100,000 and the total number of shares in the company was 45,354,532 including 86,345 treasury shares held by the company. The treasury shares have no voting rights, and no dividend is paid on them. The treasury shares accounted for 0.19 percent of all shares. Share-related authorizations At the end of March 2025, the Board had valid authorization to decide on the repurchase of a maximum of 4,535,453 own shares in one or several installments and to decide on a share issue of a maximum of 4,535,453 shares by one or more decisions. The proposed maximum authorized number represents ten percent of the total number of shares in the company. Authorizations are valid until the next Annual General Meeting, however, no longer than until 30 June 2026. More information about shares and shareholders and management holdings can be found on the company's investor website SHORT-TERM RISKS AND BUSINESS UNCERTAINTIES risk management is proactive and a central part of the company's daily management. Risks cover both threats and opportunities that may have an impact on the company's future success, financial performance, reputation and ability to meet key social and responsibility objectives. Macroeconomic and geopolitical risks, such as global trade wars, inflation, interest rate changes and market uncertainty, can affect supply chains, consumer purchasing power and buying behaviour. Managing these risks requires constant monitoring of market conditions, proactive measures and an adaptive strategy. Information security's growing importance and professionally evolving cybercrime, the risks associated with business continuity and the protection of critical information have increased significantly. Cyberattacks can target, for example, business-critical information systems or personal data, leading to disruption of sales, loss of customer confidence and possible regulatory sanctions. From a regulatory and compliance perspective, the tightening of EU legislation underlines the importance of compliance activities. Particular attention should be paid to anti-money laundering, sustainability reporting (ESG, CSRD), data regulation and compliance with AI legislation. Commercial and operational risks relate to brand positioning, competitive dynamics, product portfolio management, supply chain efficiency and operational excellence. Managing these risks is key to ensuring the company's long-term competitiveness. Product safety failure or supply chain quality assurance can lead to financial losses, reputational damage and, in the worst case, compromise of customer safety. Our own products are developed and manufactured to stringent standards, and we invest in continuous process improvement to maintain confidence in our products in all situations. Financial risks, including profitability, balance sheet structure, working capital efficiency, liquidity, access to funding, covenants and credit risks, require continuous analysis and management to ensure the financial stability and profitable growth of the company. An assessment of the main risks and uncertainties in the business is presented in the 2024 Board of Directors' Report. Helsinki, Finland, 24 April 2025 Oyj Board of Directors QUARTERLY RESULT WEBCASTS A result webcast for analysts, investors and media will be held in Finnish on Thursday, 24 April 2025 at 10:00 a.m. (EEST), in which CEO Panu Porkka will present the developments in the reporting period. It is possible to participate in the result webcast here: A result webcast in English will be held on Thursday, 24 April 2025 at 11:00 a.m. (EEST). It is possible to participate in the webcast here: Questions can be sent beforehand or during the presentation via e-mail to investors@ Presentation materials for both events are available at both press conferences, the result webcast is available at COMPANY RELEASES AND EVENTS will arrange events and publish its financial reports as follows: Half-year financial report for January–June 2025 on Thursday 17 July 2025 Interim report for January–September 2025 on Thursday 23 October 2025 Financial statements bulletin for the year 2025 on Thursday 12 February 2026 More information:Panu Porkka, CEO, Oyj Jesper Blomster, CFO, Oyj Tel. +358 40 570 3083 is an e-commerce pioneer that stands passionately on the customer's side. accelerates the transition of commerce to online with Finland's fastest deliveries and ultimate convenience. The company leads the way by offering one-hour deliveries to more than 1.7 million customers, a winning assortment and probably always cheaper prices. Every day, the company strives to find more streamlined ways to surpass its customers´ expectations and to create a new norm for buying and owning. was founded in 1992 and has been online since day one. The company's revenue in 2024 was EUR 468 million and it employs around 600 people. is listed on the Nasdaq Helsinki stock exchange Attachment Oyj January-March 2025 interim report
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23-04-2025
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Orion Group Interim Report January–March 2025
ORION CORPORATION INTERIM REPORT 1–3/2025 23 APRIL 2025 at 12:00 EEST Orion Group Interim Report January–March 2025 January–March 2025 Highlights Net sales totalled EUR 354.6 (January–March 2024: 308.5) million Operating profit was EUR 77.9 (56.0) million Basic earnings per share were EUR 0.44 (0.31) Cash flow from operating activities per share was EUR 0.55 (0.78) Outlook for 2025 remains unchanged: Net sales are estimated to be EUR 1,550 million to EUR 1,650 million. Operating profit is estimated to be EUR 350 million to EUR 450 million. Key figures1–3/25 1–3/24 Change % 1–12/24 Net sales, EUR million 354.6 308.5 +14.9% 1,542.4 EBITDA, EUR million 91.5 68.5 +33.6% 509.4 % of net sales 25.8% 22.2% 33.0% Operating profit, EUR million 77.9 56.0 +39.1% 416.6 % of net sales 22.0% 18.2% 27.0% Profit before taxes, EUR million 76.8 54.9 +39.9% 413.1 % of net sales 21.7% 17.8% 26.8% Profit for the period, EUR million 61.3 43.8 +39.9% 329.9 % of net sales 17.3% 14.2% 21.4% Research and development expenses, EUR million 41.0 36.8 +11.3% 179.6 % of net sales 11.6% 11.9% 11.6% Capital expenditure, EUR million 20.5 13.1 +56.7% 86.1 % of net sales 5.8% 4.2% 5.6% Interest-bearing net liabilities, EUR million 61.8 6.4 > 100 % 121.7 Basic earnings per share, EUR 0.44 0.31 +39.8% 2.35 Cash flow from operating activities per share, EUR 0.55 0.78 -29.7% 2.09 Equity ratio, % 62.9% 48.8% 61.9% Gearing, % 5.8% 0.9% 12.1% Return on capital employed (before taxes), % 23.4% 22.8% 34.9% Return on equity (after taxes), % 23.7% 21.9% 34.8% Average number of personnel during the period 3,928 3,673 +7.0% 3,712President and CEO Liisa Hurme: Strong start for the year "In January–March 2025, our net sales increased by 14.9 percent to EUR 354.6 (308.5) million and operating profit increased by 39.1 percent to EUR 77.9 (56.0) million. The year 2025 has started strongly with almost all business divisions reporting good growth. Nubeqa® continued to drive the growth of the Group and the Innovative Medicines business division. Both royalty income and product sales increased significantly from the comparison period. In addition, Nubeqa®'s product sales grew from the previous quarter and were at an all-time high so far. In Branded Products, all therapy areas grew nicely. Starting from this reporting period, we will split the division's net sales by three therapeutic areas. Each therapy area's strategy is to build business around one key product group. In Respiratory, the key product group is Easyhaler® product portfolio, in CNS entacapone products and in Women's Health Divina® series. Generics and Consumer Health and Animal Health business divisions also continued their growth path as expected in the first quarter of 2025. The decline in Fermion's external net sales from the comparison period is explained by the allocation of capacity more to internal use, as well as by timing of deliveries. Operating profit grew again significantly faster than net sales, which is mostly explained by the growth of Nubeqa® royalties and product sales, but also by the good development of the rest of the business. The growth of Nubeqa® royalties was strong, especially considering the fact that, as usual, the previous quarter's product sales, which were very good at the end of 2024, have been deducted from the royalty. Operating expenses increased but were lower than we anticipated. Sales and marketing expenses were increased by, among other things, investments in the promotion of the Easyhaler® product portfolio, as well as the Japanese sales office established last year. The increase in research and development costs is explained by the progress of clinical development projects and the research portfolio, where the costs of biological medicines, in particular, increase significantly as they approach the clinical development stage. US import tariffs continue to be a hot topic worldwide, and there is a lot of uncertainty around the topic right now. The United States is an important market for Orion, and we will, of course, follow the development of the situation closely. In March, we announced that Orion is establishing a new research & development centre in Cambridge, UK during 2025. With this we aim to accelerate our global growth strategy and the development of innovative medicines. The new centre will focus on the pharmaceutical development of new biological and large-molecule therapies. Orion's own clinical development projects progressed as planned during the early part of the year. In addition, we have added to Orion's list of key clinical development projects a Phase 3 project, in which our partner Tenax develops oral levosimendan for the treatment of pulmonary hypertension in heart failure with preserved ejection fraction. Tenax has announced that it will increase the number of patients in the ongoing study and plans to start during 2025 a second phase III study which is aiming for global registration. With these advances, we felt the time was right to include Tenax Phase III projects with levosimendan in Orion's research pipeline. The original license agreement with Tenax (formerly Phyxius) was signed already in 2013. All in all, the year 2025 has started very well and from here it is good to continue this year forward together with all Orionees and numerous partners.' Outlook for 2025 Net sales are estimated to be EUR 1,550 million to EUR 1,650 million. Operating profit is estimated to be EUR 350 million to EUR 450 million. Webcast and Conference Call A webcast and a conference call for analysts, investors and media representatives will be held on Wednesday, 23 April 2025 at 13.30 EEST. A link to the live webcast is available on Orion's website at A recording of the event will be available on the website later the same day. Conference call can be joined by registering through the following link: Phone numbers and the conference ID to access the conference will be provided after the registration. In case you would like to ask a question during the conference, please dial *5 on your telephone keypad to enter the question queue. Questions can also be presented in writing through the question form of the webcast. Upcoming events Capital Markets Day 2025 Thursday 22 May 2025 Half-Year Financial Report January–June 2025 Friday 18 July 2025 Interim Report January–September 2025 Tuesday 28 October 2025 Espoo, 23 April 2025 Board of Directors of Orion Corporation For additional information about the report: Tuukka Hirvonen, Investor Relations, tel. +358 10 426 2721 or +358 50 966 2721 Publisher: Orion Corporation Orion is a globally operating Nordic pharmaceutical company – a builder of well-being for over a hundred years. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and consumer health products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. In 2024 Orion's net sales amounted to EUR 1,542 million and the company employed about 3,700 professionals worldwide, dedicated to building well-being. Orion's A and B shares are listed on Nasdaq Helsinki. Attachment Orion Interim Report Q1 2025Sign in to access your portfolio
