Oriola Corporation published its Half year financial report 1 January-30 June 2017 on Friday, 21 July 2017 at 8.30 a.m.
President and CEO Eero Hautaniemi:
In the second quarter the sales of the Consumer business in Sweden was at previous year's level in local currency, and the market share remained stable compared to the first quarter of 2017. The growth of the online sales during the second quarter reached 91 per cent and exceeded market growth. The joint venture of Oriola and Kesko received the approval of the competition authority in June. For Oriola the joint venture is a strategic entry into the Finnish consumer business.
The new distribution agreement in Sweden with Meda started in the second quarter. The related investment into our Mölnlycke warehouse was completed and taken into operation. The IT system go-live in Finland, planned for June, was postponed to the third quarter. According to our strategy we continued to expand our service offering to pharmaceutical companies and pharmacies. We signed the agreement to acquire a Swedish services provider, ICTHS Health Support AB in July.
The number of people served by our dose dispensing services grew by more than 20,000 in the first half of 2017 and currently our services reach some 67,000 persons in Sweden and Finland. The ramp up of production for Norrland region in Sweden has taken more time than originally anticipated, and that has affected the first half year's business result.
We have chosen to concentrate our resources on developing the Consumer, Services and Healthcare businesses in Sweden and Finland. Consequently, we have decided to divest our assets in the Baltic countries.