Oriola-KD Corporation published the Financial Statements Release 2014 on 6 February 2015 at 8.30 a.m.
President and CEO Eero Hautaniemi's comments regarding the financial statements release:
"Profitability improved in both operating segments in Pharmaceutical Trade Sweden. In the Swedish retail business we continued to develop our product portfolio and customer loyalty programme. In October Kronans Apotek pharmacy chain's loyalty programme celebrated its millionth member. The fourth quarter profitability of the Swedish retail business was negatively affected by price reductions of certain prescription medicines. The profitability of the Swedish wholesale business was strengthened by the increased volume as well as the efficiency program carried out according to our plan. In accordance of our strategy we will continue the efficiency measures to improve the performance of the Swedish businesses in 2015.
In Finland we renewed major agreements with Roche and AbbVie and continued to improve our online services. In September the product portfolio of our online shop increased significantly when Orion's traded goods products moved over to Oriolashop.fi . In Baltics we strengthened our position in pharmaceutical retail business by acquiring "SIA Rigas Elizabetes aptieka", a pharmacy in Riga city centre.
On December 8(th) we entered into an agreement to sell all our Russian businesses to the Russian pharmacy chain CJSC Apteki 36.6. The Russian businesses have fallen behind set goals for several years. The decision to sale the Russian businesses was based on our estimates on the outlook of the Russian pharmaceutical markets, on the competitive environment and the further
development of profitability of the Russian businesses. Profit for the period for Russian businesses in 2014 was EUR -111.1 (-11.4) million, impairment loss, accumulated translation differences, foreign exchange differences and cost of disposal recognised on sale of the Russian businesses totalled EUR -147.7 million. Profit for the period from discontinued operations was EUR -258.8 (-11.4) million.
Going forward, we will focus on developing our businesses in Finland, Sweden and Baltic countries in accordance with our strategy. We want to be the leading pharmaceutical retail operator and pharmaceutical distributor and service provider for pharmaceutical companies and consumers."