ORINF - Orion Oyj (ORINF) Q4 2023 Earnings Call Transcript
2024-02-13 13:42:10 ET
Orion Oyj (ORINF)
Q4 2023 Earnings Call Transcript
February 13, 2024 6:30 AM ET
Company Participants
Tuukka Hirvonen - Investor Relations & Financial Communications Officer
Liisa Hurme - President, CEO & Chairman of Executive Management Board
Jari Karlson - CFO & Member of the Executive Management Board
Conference Call Participants
Viktor Sundberg - Nordea
Anssi Raussi - SEB
Graham Parry - BofA
Iiris Theman - Carnegie
Sami Sarkamies - Danske Bank
Presentation
Tuukka Hirvonen
Good afternoon, ladies and gentlemen, and welcome to Orion's Earnings Conference Call and Webcast for the Financial Year 2023. My name is Tuukka Hirvonen, I'm the Head of IR here at Orion. In a few moments, our CEO, Liisa Hurme, will present the results from 2023 as well as our refined strategy and new financial objectives. After the presentation, you will have the possibility to ask questions from Liisa and also from our CFO, Jari Karlson.
We will be first taking questions from the conference call lines. And kindly, whenever asking your question, kindly state your name and the organization you are representing before asking your question. And after that, we will then turn to the webcast questions. So in the webcast, you see the chat box below the stream and then you can type in questions through that tool.
And just before I let Liisa to take over, just a reminder about this disclaimer regarding forward-looking statements. But now without any further delays, it's my pleasure to give the stage to Liisa. Liisa?
Liisa Hurme
Thank you, Tuukka, and welcome on my behalf as well to Orion full year 2023 webcast.
I'll start with the Q4, which was very good for Orion. We proceeded all year as we had planned, accelerating towards the end of the year. So our net sales in Q4 were 9% higher than in the Q4 2022 and our operating profit more than doubled from 2022. Of course, along with that, our operating profit margin also increased significantly. And cash flow was also improved from the last quarter of 2022, so compared quarter-by-quarter. Nubeqa and Easyhaler were the growth drivers for our net sales. And during the last quarter or for the last quarter, of course, the transfer of the Orion Pension Fund's B Fund to an external pension insurance company resulted in €30.7 million positive impact on our operating profit....
Orion Oyj (ORINF) Q4 2023 Earnings Call Transcript