Edition:
United States

Orkla ASA (ORK.OL)

ORK.OL on Oslo Stock Exchange

69.60NOK
10:25am EDT
Change (% chg)

kr-0.70 (-1.00%)
Prev Close
kr70.30
Open
kr70.04
Day's High
kr70.26
Day's Low
kr69.26
Volume
1,514,488
Avg. Vol
1,871,805
52-wk High
kr87.30
52-wk Low
kr64.60

Latest Key Developments (Source: Significant Developments)

Norway's Orkla Q1 lags, hit by high raw material prices
Wednesday, 25 Apr 2018 01:00am EDT 

April 25 (Reuters) - Orkla ASA ::ORKLA Q1 ADJUSTED EBIT NOK 897 MILLION (NOT 942 MILLION) (REUTERS POLL NOK 999 MILLION).ORKLA Q1 PRETAX RESULT NOK 886 MILLION (REUTERS POLL NOK 1.05 BILLION).OVERALL PROFIT GROWTH REMAINED WEAK, MAINLY DUE TO HIGHER RAW MATERIAL PRICES AND CONTINUED WEAK GROWTH IN THE.MARINE SEGMENT. .THE EFFECTS OF COST REDUCTION PROGRAMMES WERE COUNTERACTED BY HIGHER PURCHASING PRICES DUE TO CURRENCY EXCHANGE RATES (SEK/NOK VS EUR), NEGATIVE MIX EFFECTS AND HIGHER ADVERTISING INVESTMENTS..RESULTS FOR QUARTER WERE LOWER THAN EXPECTED DUE TO A NUMBER OF FACTORS: TIMING OF EASTER MEANT FEWER SALES DAYS IN SCANDINAVIAN COUNTRIES, A COLD WINTER CONTRIBUTED TO LOWER SALES OF ICE CREAM INGREDIENTS AND PAINTING TOOLS.ORKLA TARGETS ORGANIC GROWTH THAT AT LEAST MATCHES MARKET GROWTH, WHICH IS EXPECTED TO BE AROUND 2% GOING FORWARD, AND ANNUAL EBIT (ADJUSTED.) GROWTH OF 6–9% IN BRANDED CONSUMER GOODS FOR 2016–2018.ORKLA ASA: WILL CONTINUE ITS EFFORTS TO RATIONALISE ITS EXISTING OPERATIONS, SUCH AS THROUGH ITS FACTORY FOOTPRINT PROGRAMME, AND TO EXTRACT SYNERGIES FROM ACQUIRED COMPANIES..  Full Article

Orkla CEO: We will continue same M&A strategy
Thursday, 8 Feb 2018 02:47am EST 

Feb 8 (Reuters) - Orkla Asa ::ORKLA CEO: WE WILL CONTINUE OUR M&A STRATEGY; CASH IN FROM SALE OF NON-CORE ASSETS AND INVEST IN VALUE-ADDED ACQUISITONS.  Full Article

Orkla Q4 adjusted EBIT beats forecast
Thursday, 8 Feb 2018 01:00am EST 

Feb 8 (Reuters) - Orkla Asa ::ORKLA Q4 ADJUSTED EBIT NOK ‍1,443​ MILLION (REUTERS POLL NOK 1.31 BILLION).ORKLA Q4 PRETAX RESULT NOK ‍1,309​ MILLION (REUTERS POLL NOK 1.31 BILLION).ORKLA PROPOSES 2017 DIVIDEND OF NOK ‍2.60​ PER SHARE (ON TOP OF THE ALREADY PAID OUT NOK 5 PER SHARE RELATED TO SAPA SALE).ORKLA ASA: IN THE MARKETS IN WHICH ORKLA HAS A PRESENCE, GROWTH IS STILL EXPECTED TO REMAIN MODERATE IN THE COMING YEARS‍​.ORKLA AIMS TO DELIVER ORGANIC GROWTH THAT AT LEAST MATCHES MARKET GROWTH AND GROWTH IN ANNUAL EBIT (ADJUSTED.) OF 6–9% IN BRANDED CONSUMER GOODS IN THE PERIOD 2016–2018.  Full Article

Orkla may move biscuits output from Sweden to Latvia
Friday, 19 Jan 2018 03:53am EST 

Jan 19 (Reuters) - Orkla ASA said on Friday::NORWAY'S ORKLA SAYS MAY MOVE ITS BISCUIT PRODUCTION FROM SWEDEN'S KUNGSALV TO LATVIA.NO DECISION HAS BEEN MADE, AND THE POTENTIAL MOVE WOULD NOT TAKE PLACE FOR SEVERAL YEARS.THE KUNGSALV PLANT HAS 350 EMPLOYEES. ORKLA'S AMBITION IS THAT NO ONE SHOULD BECOME UNEMPLOYED IF PRODUCTION IS MOVED.  Full Article

Orkla to buy Health and Sports Nutrition Group for SEK 360 mln
Tuesday, 21 Nov 2017 01:37am EST 

Nov 21 (Reuters) - Orkla Asa :Orkla has entered into an agreement to purchase the Swedish company Health and Sports Nutrition Group (HSNG) from Stockholm listed Qliro Group <<>>.Orkla says the parties have agreed on a purchase price of SEK 360 million ($42.43 million) on a debt-free basis.HSNG's operations will be maintained as a separate unit in the Orkla Care business area..HSNG runs the ecommerce portals Gymgrossisten and Bodystore, and is the biggest online health and sport nutrition company in the Nordic region.The transaction is conditional on the approval of the competition authorities in Sweden, Norway and Austria."Orkla's goal is to strengthen its focus on digital marketing and sales, and through this acquisition will gain proximity to a large number of engaged consumers. Health is a priority area for us, and we see good opportunities for collaboration with our existing activities, in the form of greater distribution through traditional sales channels and, not least, enhanced consumer insight," says Stig Ebert Nilssen, Orkla EVP and CEO of Orkla Care.  Full Article

Orkla to buy Czech frozen vegetable producer Agrimex
Monday, 20 Nov 2017 07:04am EST 

Nov 20 (Reuters) - Orkla Asa :Through its wholly-owned subsidiary Hame, Orkla has signed an agreement to purchase Agrimex, a leading frozen vegetable producer in the Czech Republic.Agrimex has 32 employees and had a turnover of CZK 260 million ($11.98 million) in 2016.The company will be consolidated into Orkla’s financial statements from Dec. 1, 2017..The parties have agreed not to disclose the purchase price.  Full Article

Norway's Orkla sells Denmark's K-salat to Stryhns A/S
Wednesday, 15 Nov 2017 08:32am EST 

Nov 15 (Reuters) - Orkla Asa said in a statement::Orkla sells K-Salat to Stryhns A/S.Orkla Foods Denmark has entered into an agreement with Stryhns A/S on the sale of K-Salat.The purpose of the sale is to concentrate activities on fewer categories.K-Salat has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark.Under the agreement, Stryhns A/S will take over the factory with around 100 employees in Havnsø, Vestsjælland.The transaction is expected to be completed in early December 2017, and the entity will be consolidated into the buyer’s financial statements as from 1 December 2017.The price of the transaction was not disclosed.  Full Article

Orkla: Group director corporate communications buys 3,099 shares
Friday, 3 Nov 2017 05:36am EDT 

Nov 3 (Reuters) - Orkla Asa ::‍Håkon mageli, group director corporate communications and corporate affairs at orkla, has today bought 3,099 shares at a price of nok 79.50​.  Full Article

Orkla Food Ingredients buys Arne B. Corneliussen AS from Danish Crown
Wednesday, 25 Oct 2017 06:09am EDT 

Oct 25 (Reuters) - Orkla Asa ::Orkla Food Ingredients to buy Arne B. Corneliussen as, a leading manufacturer and supplier to the Norwegian food industry.The company’s product portfolio consists of spices, marinades, flavourings, starter cultures and other functional ingredients, in addition to packaging solutions.Its customer market is Norwegian food manufacturers with the Norwegian meat industry as main segment.The company, which has 32 employees, has its head office, production facilities, test kitchen and warehouse at Økern in Oslo.Arne B. Corneliussen, established in 1949, has been owned since 1995 by DAT-Schaub A/S, a subsidiary of Danish Crown.The business now being sold had a turnover of 188 million Norwegian crowns ($23.46 million) in 2016.The parties have agreed not to disclose the purchase price.  Full Article

Orkla posts Q3 pre-tax profit above forecast, repeats growth guidance
Wednesday, 25 Oct 2017 12:59am EDT 

Oct 25 (Reuters) - Orkla Asa ::Orkla q3 adjusted ebit nok ‍1,267​ million (Reuters poll nok 1.24 billion).Orkla q3 revenues nok ‍9,858​ million (Reuters poll nok 9.87 billion).Qtrly ‍pre-tax profit increased by 13%, ending quarter at nok 1,312 million (Reuters poll nok 1.25 billion)​.Orkla repeats aims to deliver organic growth that at least matches market growth and growth in annual ebit (adjusted) of 6–9% in branded consumer goods in the period 2016–2018‍​.Orkla says cost programmes proceed according to plan, but higher input costs impact profits.  Full Article

Norway's DNB, Orkla form joint data marketing firm

* Norway's largest bank DNB and consumer goods maker Orkla have formed a marketing joint venture, DNB said in a statement