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Orion (ORNBV) investor relations material
Orion Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales grew 27% year-over-year in Q2 2025 to €416.5 million, with operating profit up 59% to €104.6 million, driven by NubeqaⓇ and strong division performance.
H1 2025 net sales increased 21.1% to €771.0 million, and operating profit rose nearly 50% to €182.5 million, reflecting robust performance in Innovative Medicines and other divisions.
Major R&D and business developments include FDA and CHMP approvals for darolutamide, new Cambridge R&D center, and expanded clinical pipeline.
Research pipeline expanded with new agreements and first biologics expected to enter clinical stage within 12–24 months.
Sustainability targets set to reduce Scope 1 and 2 emissions by 70% by 2030, with significant progress and validation by the Science Based Targets initiative.
Financial highlights
Q2 operating cash flow per share increased nearly 200% to €0.57; H1 at €1.12, up 14.1% year-over-year.
Q2 2025 EBITDA was €118.6 million (+50.6% year-over-year), with a gross margin of 59.6%.
H1 2025 profit for the period was €143.8 million (+50.2% year-over-year); basic EPS at €1.02 (+50.0%).
Royalties contributed €46 million to operating profit, with sales volume increases of €30.1 million.
Fixed costs rose by €22 million, reflecting planned investments in R&D and sales/marketing.
Outlook and guidance
Full-year 2025 net sales expected between €1.63–1.73 billion; operating profit guidance at €400–500 million.
Guidance range remains wide due to uncertainties in NubeqaⓇ royalties, Q4 sales dynamics, and R&D expense timing.
R&D expenses anticipated to be slightly higher in H2 as projects progress; capital expenditure to remain at 2024 levels.
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