Orkla reports improved operating profit
(Thomson Reuters ONE) -
Orkla's operating profit (EBITA) increased by 13% to NOK 888 million in the
first quarter of 2012, compared with the first quarter of last year. Results are
in line with the preliminary figures published on Monday, 30 April. Orkla Brands
had underlying growth in revenues, and maintained its overall market shares. The
improvement measures implemented by Sapa Heat Transfer and market growth and
productivity improvements for Sapa Profiles North America made a positive
contribution. Sapa Profiles Europe is still affected by weak markets.
Profit for Orkla Brands was on a par with last year. Volumes for grocery channel
sales increased and market shares were maintained, while profit was reduced by
the loss of contract sales to industrial and export customers. All in all, there
was 4% underlying growth in sales in the quarter. The timing of Easter had a
positive impact on profit, but this was counteracted by high advertising
investments.
Sapa Heat Transfer posted improved profit compared to fourth quarter of 2011 as
a result of the implementation of improvement measures in Sweden and the
transfer of volumes to the factory in Shanghai. Sapa Profiles North America
continues to increase its market shares in a growing market, although there is
pressure on prices in some segments. Reduced demand and lower margins,
particularly in Southern Europe, pulled profit down. The restructuring of the
profiles business in Europe is on track, and the changes will gradually take
effect throughout the year.
Borregaard has delivered yet another strong first quarter. The industrial
operations were separated from the hydro power business on 1 April. Preparations
are in full progress for listing the company on the stock exchange, and
industrial buyers have also been contacted for a possible sale of the business.
The process of selling off the shares in the Share Portfolio continues, and
shares were sold for a total of NOK 1,050 million in the quarter. The return on
the Share Portfolio was 12.9% in the quarter, about 2% percentage-points higher
than the return on the Oslo Stock Exchange Benchmark Index. Gains on the sale of
real estate contributed EBITA of around NOK 100 million in the quarter.
Orkla ASA
Oslo, 3 May 2012
Ref.:
Senior VP Communications and Public Affairs
Johan Chr. Hovland
Tel.: +47 22 54 44 86/ +47 917 63 491
Senior VP Investor Relations
Rune Helland
Tel.: +47 22 54 44 11
VP Investor Relations
Siv M. Skorpen Brekke
Tel.: +47 22 54 44 55/ +47 930 56 093
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Quarterly and accounting figures 1st quarter 2012:
http://hugin.info/111/R/1608204/510314.xls
Presentation of 1st quarter 2012:
http://hugin.info/111/R/1608204/510312.pdf
1st Quarter 2012:
http://hugin.info/111/R/1608204/510348.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Orkla ASA via Thomson Reuters ONE
[HUG#1608204]
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 142107
Anzahl Zeichen: 3777
contact information:
Town:
Oslo
Kategorie:
Business News
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