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Orkla ASA (ORK.OL)

ORK.OL on Oslo Stock Exchange

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24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Orkla initiates a share buyback program for up to 1.5 mln shares
Monday, 20 Feb 2017 02:20am EST 

Orkla Asa : Orkla has decided to initiate a share buyback program for up to 1.5 million shares in market . Orkla asa: program will be initiated today and terminated on 12 April 2017 at latest .The shares purchased under this program will be used for Orkla's stock- and incentive program for own employees.  Full Article

Orkla proposes 2016 dividend NOK 2.60 per share
Thursday, 9 Feb 2017 12:59am EST 

Orkla Asa : proposes 2016 dividend of nok 2.60 per share (Reuters poll nok 2.55 per share) . q4 pretax result nok 1,344 million (Reuters poll 1.32 billion), an increase of 42 pct due to improvement for the Branded Consumer Goods business and Sapa, and the sale of a property in Switzerland . Partly owned Jotun reported a weak result in the fourth quarter, due to lower activity in the shipping and offshore sectors, accounting write-downs and increased provisions . Sapa's improved performance is chiefly attributable to a higher proportion of sales of more value-added products as well as internal improvement projects . Says "in the markets in which Orkla has a presence, growth is expected to remain moderate in the years ahead, with some variation from one market to another . Says efforts to optimise and rationalise the supply chain so as to exploit economies of scale and reduce costs will continue .Orkla aims to deliver organic growth in turnover that at least matches market growth and growth in annual adjusted EBIT (adj.) of 6–9% in Branded Consumer Goods in the period 2016–2018.  Full Article

BRIEF-Orkla proposes 2016 dividend NOK 2.60 per share
Thursday, 9 Feb 2017 12:59am EST 

Orkla Asa : proposes 2016 dividend of nok 2.60 per share (Reuters poll nok 2.55 per share) . q4 pretax result nok 1,344 million (Reuters poll 1.32 billion), an increase of 42 pct due to improvement for the Branded Consumer Goods business and Sapa, and the sale of a property in Switzerland . Partly owned Jotun reported a weak result in the fourth quarter, due to lower activity in the shipping and offshore sectors, accounting write-downs and increased provisions . Sapa's improved performance is chiefly attributable to a higher proportion of sales of more value-added products as well as internal improvement projects . Says "in the markets in which Orkla has a presence, growth is expected to remain moderate in the years ahead, with some variation from one market to another . Says efforts to optimise and rationalise the supply chain so as to exploit economies of scale and reduce costs will continue .Orkla aims to deliver organic growth in turnover that at least matches market growth and growth in annual adjusted EBIT (adj.) of 6–9% in Branded Consumer Goods in the period 2016–2018.  Full Article

Orkla makes EUR 6 mln acquisition in the Netherlands
Friday, 2 Sep 2016 02:56am EDT 

Orkla Asa : Through its wholly-owned subsidiary Sonneveld Group B.V., Orkla Food Ingredients (OFI) has signed and closed an agreement to acquire 70% of the shares in Broer Bakkerijgrondstoffen B.V., a leading manufacturer of almond paste, bakery ingredients and ice cream powder in the Netherlands . The parties have agreed on a purchase price of EUR 6 million on a debt-free basis (100%) . The company’s former owners are the same who owned the sales and distribution company Briceland, which Orkla acquired in December 2015 . Two of the owners will remain minority shareholders with a total of 30% of the company’s shares .Broer has a total of 32 employees, and achieved a turnover of EUR 17 million in 2015 and EBIT (adj.) of EUR 0.7 million.  Full Article

Norway's Orkla Q2 earnings beats forecasts due higher sale, cost-cutting
Friday, 15 Jul 2016 01:00am EDT 

Orkla Asa : Q2 adjusted EBIT NOK 996 million (Reuters poll NOK 923 million) vs NOK 789 million in Q2 2015 . Q2 revenues NOK 9,433 million (Reuters poll NOK 9.21 billion) vs NOK 7,705 million in Q2 2015 . Q2 pretax result NOK 1,259 million (Reuters poll 1.10 billion) vs NOK 1,280 million in Q2 2015 . "For the ninth consecutive quarter we saw organic sales growth in the branded consumer goods business. Orkla had significant improvement in operating profit due to higher sales and internal improvement projects," said CEO Peter A. Ruzicka . On Brexit: The trade policy situation in the wake of the UK . referendum on leaving the EU is still uncertain... Brexit will have a minor impact in the short term, as the majority of Orkla's operations are in the Nordic and Baltic regions and central Europe, with limited exposure to the UK" . The markets in which Orkla has a presence, growth is expected to remain moderate in the coming years . Says faces increasingly tough competition from imported international brands and private labels . Says raw material and packaging costs have increased, especially for some of the companies . Repeats aims to deliver organic growth that at least matches market growth and annual adjusted EBIT growth of 6–9 percent in the branded consumer goods business in the period 2016–2018.  Full Article

Orkla to lay off some staff at Aland plant in Finland
Thursday, 19 May 2016 03:43am EDT 

Orkla Asa : Says the board of directors of Orkla Confectionery & Snacks Finland has decided to maintain production of snacks and frozen products in Aland . Says we have now carried out a thorough assessment, in which we involved a great many stakeholders. We are glad that we can now conclude that there is a basis for continued production in Aland . There are 105 employees at the factory at Haraldsby. There will be reductions in the factory workforce as part of this process . Says several alternatives have been considered, including moving production to other Orkla factories. The decision to retain Aland production is based on a combination of factors, including an overall assessment of risks and competitiveness .Says has been crucial to achieve savings that can assure the factory's competitiveness. We have received constructive input from employees, factory management, public authorities, suppliers and other partners, and we can now confirm that conditions for maintaining production have improved sufficiently.  Full Article

Orkla acquires supplier of painting tools in the United Kingdom
Tuesday, 3 May 2016 01:02am EDT 

Orkla ASA:Orkla acquires supplier of painting tools in the United Kingdom.Agreement to purchase L.G. Harris & Co. Limited, supplier of do it-yourself painting tools in United Kingdom.Parties have agreed on a purchase price of 55 million pounds (on a debt-free basis).  Full Article

Orkla will not restructure operations at Norway's Rygge
Monday, 2 May 2016 06:10am EDT 

Orkla ASA:Says has reversed its previous decision to restructure operations at the Idun Rygge plant in Norway.Says this means that Idun Tomatketchup will continue to be produced in Norway.On 29 March, the Board of Orkla Foods Norge adopted a decision of intent to move production of all Idun products and at the same time make internal changes in the manufacturing structure at Rygge.The plan was part of the company's process of simplifying Orkla's factory structure.Board has decided, based on an overall assessment, not to pursue the former plans at Rygge.  Full Article

Orkla unit moves production from Norway to Sweden
Tuesday, 26 Apr 2016 05:31am EDT 

Orkla ASA:The Lilleborg unit of Norway's Orkla says to go ahead with its plan to move production from Norway's Kristiansund to Sweden's Falun, affecting 60 employees.The final decision had been postponed from Monday, April 25, following an initiative from investors in Kristiansund who tried to persuade Orkla to change its mind.  Full Article

Orkla to close at least one factory in Norway
Tuesday, 29 Mar 2016 09:00am EDT 

Orkla ASA:Says is to close at least one factory in Norway.The Gimsøy Kloster factory at Skien will be closed down, and all beverage production will be moved to Kumla, Sweden.The Board has also made a decision regarding the intention to change the company's manufacturing structure at Rygge.At present, Orkla Foods Norge has two factories at Rygge in Østfold county.The proposal entails moving most of the ketchup, mustard and dressing manufacturing operations to Orkla's factory at Fågelmara, Sweden.Orkla Foods Norge wishes to continue to produce Nora vegetables at Rygge, concentrate its operations at one location and build up a logistics centre.A total of around 80 persons are currently employed at the two Rygge factories.If the intended changes are adopted, the plan is to gradually wind down production of ketchup, mustard and dressings at Rygge by the autumn of 2017.The intention is to relocate production of vegetables internally at Rygge in the spring of 2018.  Full Article

More From Around the Web

Orkla buys Dutch ice cream ingredients supplier

OSLO, March 6 ** Orkla says its wholly-owned subsidiary Idun Industri AS has signed and closed an agreement to acquire 100 pct of the shares in the Netherlands company Laan Heiloo B.V.