Q4 2025 Orion Oyj Earnings Call Transcript
Key Points
- Orion Oyj (ORINY) reported a strong Q4 with all business divisions performing well.
- The company received a significant sales milestone of €180 million from Bayer related to NECA.
- Operating profit growth was substantial, with a 59% increase in the base business and 254% including the milestone.
- Orion Oyj (ORINY) achieved an all-time high year in 2025 for both net sales and operating profit.
- The company has made positive developments in R&D, including new approvals in Europe and the US, and several new license and collaboration agreements.
- Operating cash flow per share was slightly lower than the previous year due to the timing of royalty payments from Bayer.
- Animal health division experienced only 1% growth in Q4, attributed to delivery timing issues.
- R&D costs were higher than expected in Q4, with some fluctuations due to external CRO bills.
- The company anticipates increased R&D and sales and marketing expenses in 2026, which could impact profitability.
- There is uncertainty regarding the royalty rate post-2035, as it will drop to a low level after generic competition starts.
Good afternoon and welcome to Orion's full year 2025 result webcast and conference call. My name is Tua Herman and I am the head of IR here at Orion.
In a few moments our CEO Lisa Jrme will present the results for the full year and Q4 last year, after which you will have the possibility to ask questions from Lisa and also from our CFO Rene Lindel.
We will be first taking questions through the conference call lines and after that we will turn to the webcast. So through the webcast you have the possibility to type in your questions through the chat function of the webcast.
Just before I let Lisa take over, I'd like to draw your attention to this, usual disclaimer regarding future, forward-looking statements.
And with this short note, it's my pleasure to invite Lisa to the podium. Lisa, please.
Thank you too.
And welcome on my behalf as well.
I'll start with
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