Oriola Corporation records EUR 9.8 million write-downs of other tangible and intangible assets and provides preliminary information on its year 2022 financial performance
Oriola Corporation Insider Information 30 January 2023 at 9:10 a.m.
Oriola Corporation records EUR 9.8 million write-downs of other tangible and intangible assets and provides preliminary information on its year 2022 financial performance
Oriola Corporation records EUR 9.8 million write-downs of other tangible and intangible assets not yet available for use and which have been development in progress. The non-recurring write-downs do not have a cash flow effect. The write-downs are related to several earlier years process automation development, outdated information technology and partially implemented projects that have been discontinued. The write-downs are handled as adjusting items in Oriolas reporting.
Based on preliminary, unaudited information on the continuing operations, Oriola estimates that its net sales in 2022 was approximately EUR 1,515 million and adjusted EBIT was approximately EUR 19.7 million. The adjusted EBIT of Oriola’s continued operations excludes the loss of EUR 0.8 million from the joint venture Swedish Pharmacy Holding AB in the fourth quarter in 2022.
The outlook for 2022 (published on 3 October 2022)
The adjusted EBIT for the continuing operations is estimated to increase from the 2021 level. The new outlook is based on Oriola’s continuing operations.
The COVID-19 pandemic continues and the severity as well as the duration of the pandemic remain unclear in Oriola’s operating environment. Furthermore, the recent overall inflationary increases and related cost pressures may have a significant impact on Oriola’s profitability.
The comparable adjusted EBIT in 2021 was EUR 14.9 million for the continuing operations.
Oriola Corporation will publish its financial statements for 2022 on February 16, 2023.
Oriola Corporation
Timo Leinonen
CFO
Further information:
Mikael Wegmüller
VP, Communications and Sustainability
Tel. +358 40 776 2314
Email: [email protected]
Distribution:
Nasdaq Helsinki Ltd
Key media
Released by:
Oriola Corporation
Corporate Communications
Orionintie 5
FI-02200 Espoo
www.oriola.com
