Oriola-KD Corporation published its financial statements release 1 January-31 December 2015 on Friday, 5 February 2016 at 8.30 a.m.
President and CEO Eero Hautaniemi’s comments regarding the financial statements release:
Year 2015 was successful and we managed to grow the volumes especially in the wholesale business despite of the slow growth in the market.
We were able to further increase the margin of OTC medicines and the sales and margin of traded goods in the Swedish retail business. Operating profit in euros remained at the level of previous year, due to above all price cuts in the generics and unfavourable development of the Swedish Krona. The combined effect resulted in a significant decline in parallel imports from the previous year.
The business volume in the Swedish wholesale increased significantly which also resulted in an improved profitability compared to previous year. In Finland we renewed important, multi-annual pharmaceutical company agreements and improved our efficiency. As a result of a successful rights-issue and strong cash flow our balance sheet strengthened significantly.
We renewed our strategy and operating model in the second half of the year 2015 and signed an agreement to acquire Svensk dos, a Swedish company specialising in dose dispensing of pharmaceuticals.