Orexo AB Reports Consolidated and Parent Company Earnings Results for the Fourth Quarter and Year Ended December 2014
January 29, 2015 at 04:34 am EST
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Orexo AB reported consolidated and parent company earnings results for the fourth quarter and year ended December 2014. For the quarter, the company reported consolidated net revenues of SEK 220.5 million against SEK 99.5 million a year ago. Operating earnings were SEK 59.0 million against operating loss of SEK 31.7 million a year ago. Earnings before tax was SEK 52.9 million against loss before tax of SEK 36.3 million a year ago. Net earnings for the period was SEK 51.6 million against net loss for the period of SEK 37.8 million a year ago. Earnings per share, after dilution was SEK 1.46 against loss per share, after dilution of SEK 1.19 a year ago. Cash outflow from operating activities was SEK 7.3 million compared to SEK 115.5 million a year ago. Acquisition of tangible and intangible fixed assets were SEK 7.8 million compared to SEK 61.5 million a year ago. Return on equity was 13% compared to negative return on equity of 22% a year ago.
For the year, on consolidated basis, the company reported net revenues of SEK 570.3 million against SEK 429.4 million a year ago. Operating loss was SEK 25.0 million against SEK 139.7 million a year ago. Loss before tax was SEK 52.6 million against SEK 153.4 million a year ago. Net loss for the period was SEK 56.6 million against net loss for the period of SEK 154.9 million a year ago. Loss per share, after dilution was SEK 1.73 against loss per share, after dilution of SEK 5.16 a year ago. Cash outflow from operating activities was SEK 487.3 million compared to SEK 265.8 million a year ago. Acquisition of tangible and intangible fixed assets were SEK 71.7 million compared to SEK 107.5 million a year ago. Negative return on equity was 27% compared to 88% a year ago. Net debt was negative SEK 211.8 million against SEK 135.4 million a year ago.
For the quarter, the company reported parent net revenues of SEK 142.8 million against SEK 43.5 million a year ago. Operating earnings were SEK 39.8 million against operating loss of SEK 65.3 million a year ago. Earnings before tax was SEK 34.0 million against loss before tax of SEK 70.0 million a year ago. Net earnings for the period was SEK 33.6 million against net loss for the period of SEK 71.5 million a year ago.
For the year, the parent company reported net revenues of SEK 398.5 million against SEK 452.3 million a year ago. Operating loss was SEK 39.5 million against SEK 27.9 million a year ago. Loss before tax was SEK 65.4 million against SEK 44.3 million a year ago. Net loss for the period was SEK 65.9 million against net loss for the period of SEK 45.8 million a year ago.
Orexo AB is a Sweden-based company active within the pharmaceutical industry. It focuses primarily on the development of new, patented drugs by combining documented substances with technologies, and the new treatments for respiratory and inflammatory diseases. The Company has four commercialized products, several projects developed in partnership, as well as three development programs. The Company's registered products are: Abstral for the treatment of break through cancer pain, sold by ProStrakan Group plc in Europe, the United States and Canada; the sleeping pill Edluar, sold by Meda in the United States and Canada; as well as two products for the diagnosis of Helicobacter pylori which are being marketed by the subsidiary, Kibion AB. The Company operates through subsidiaries: Pharmacall AB, Noster System AB, Orexo UK, and Pharmakodex Ltd, among others. In December 2013, Kyowa Hakko Kirin Co., Ltd (KHK), with the licensed right to Abstral, commenced the launch of it in Japan.
OREXO AB 
