Oriola-KD Corporation has signed approximately EUR 280 million revolving credit and term loan facility agreement with four banks. The new facility agreement will be utilized to refinance the EUR 100 million revolving credit facility maturing April 2014 and to finance the acquisition of the Medstop pharmacy chain. Financial covenants of the facility are based on the ratio between Oriola-KD's net debt and EBITDA and its gearing ratio. The revolving credit facility is split into a EUR 100 million five year and a EUR 20 million three year facilities. Swedish crown denominated approximately EUR 160 million amortized term loan facility will mature three years after signing of the facility. Danske Bank A/S, Nordea Bank Finland PLC, Pohjola Bank PLC and Skandinaviska Enskilda Banken AB (publ) were acting as Mandated Lead Arrangers. Danske Bank A/S acted as the coordinator and agent in the facility.

Oriola-KD Corporation reported unaudited consolidated financial results for the first quarter ended March 31, 2013. The Group's net sales in January-March 2013 increased by 3.6% to EUR 612.3 million against EUR 590.8 million for the same period of last year. Operating profit for January-March decreased by 55.3% to EUR 2.3 million against EUR 5.2 million for the same period of last year. Profit after financial items was EUR 0.9 million against EUR 2.5 million for the same period of last year. Profit for the period was EUR 0.7 million against EUR 1.3 million for the same period of last year. Return on equity was 0.9% against 1.7% in January-March 2013. The figures for the comparison year have been adjusted due to a revision of the calculation method for pension liabilities (IAS 19R (revision) Employee benefits). The impact has been itemised under Revision of the IAS 19 standard Employee benefits. Net cash flow used in operations was EUR 26.1 million against EUR 27.1  million for the same period of last year. Oriola-KD provided earnings guidance for fiscal 2013. The company estimates that net sales and operating profit excluding non-recurring items will increase from 2012 level. Growth of the net sales of Pharmaceutical Trade Russia will slow down in the first part of the year and operating profit will be weaker than the previous year, as a result of challenges related to the implementation of the warehouse management system started in January 2013.

Oriola-KD Corporation, Q1 2013 Earnings Call, Apr 25, 2013