Oriola-KD Corporation published the Interim Report for 1 January-30 September 2014 on 23 October 2014 at 8.30 a.m.
President and CEO Eero Hautaniemi's comments regarding the interim report:
"Profitability improved in both operating segments in Pharmaceutical Trade Sweden. Third quarter operating profit percentage excluding non-recurring items for Swedish retail business was 5.5 (3.8) per cent. The Swedish wholesale business' profitability was strengthened by the increased volume of the business as well as the efficiency programme that was started in the third quarter of 2013.
In Finland we strengthened the product portfolio of our online shop by reaching a co-operation agreement with Orion Corporation. Orion's traded goods products were transferred over to Oriolashop.fi product portfolio as of the beginning of
Russian retail business developed according to our plan despite of the challenging market conditions. Weak development of the Russian wholesale business contributed negatively to Oriola-KD's net sales and operating profit during the first three quarters. Operating profit of the Russian wholesale business was poor and the operating segment's profitability was clearly behind the goals set regardless of slightly improved September net sales. Continued intense competition and planned change in business model contributed negatively to Russian wholesale business profitability. Further to measures to improve the performance of the Russian wholesale business we have nominated a financial advisor to investigate the conditions for selling the Company's Russia businesses. We will continue the ongoing initiatives to develop Company's Russian businesses."