Stable performance for Orkla's branded consumer goods
(Thomson Reuters ONE) -
Orkla's operating profit (EBITA) amounted to NOK 992 million in the second
quarter, compared with NOK 1,079 million in the corresponding period of 2011.
The timing of Easter sales and weak markets for Sapa Profiles Europe impacted
negatively on second-quarter profit. Operating profit totalled NOK 1,880 million
in the first half of 2012, which is a slight improvement.
Orkla's operating revenues amounted to NOK 15,145 million in the second quarter,
compared with NOK 15,897 million in the corresponding period of 2011.
Taking into account the timing of Easter sales, the Branded Consumer Goods area
posted operating profit on a par with last year. Sales volumes improved in the
Nordic grocery market, and overall market shares were maintained. The Branded
Consumer Goods area accounted for around 60% of Orkla's profit.
"Orkla is in a transitional phase towards becoming a pure branded consumer goods
company. The new Group executive management possesses strong branded goods
expertise. This will ensure that we maintain focus on operational excellence and
organic growth, while we carry out structural changes. The acquisition of Jordan
is entirely in line with our strategy of expansion in the branded consumer goods
area," says President and CEO Åge Korsvold.
Stabburet in Norway, the Chips Group in the Nordic region and the Baltic
businesses reported a positive sales and profit performance in the second
quarter. MTR in India achieved 23% growth in sales in the second quarter. Orkla
Brands Russia saw moderate sales improvement. To increase the competitiveness of
the Russian operations, the number of factories will be reduced from four to
three.
Weak markets brought a decline in volumes for Sapa Profiles Europe in the second
quarter. Sapa Profiles North America continued to achieve improved volumes and
profitability. Sapa Heat Transfer strengthened its performance in the second
quarter, following the implementation of improvement measures. Borregaard
Chemicals continued to deliver strong results in the second quarter. Lower power
prices contributed to weak results for Hydro Power.
In accordance with Orkla's accounting practice, the investment in REC was
written down to market value at quarter end. Orkla's profit before tax amounted
to NOK 2.1 billion in the first half of 2012. The sell-off of the share
portfolio is proceeding as planned. In the first half of 2012, net sales of
shares totalled just over NOK 2 billion.
Orkla ASA
Oslo, 20 July 2012
Ref.:
Senior VP Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47 928 45 828
Senior VP Investor Relations
Rune Helland
Tel.: +47 22 54 44 11/+47 977 13 250
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Quarterly and accounting figures 2nd quarter 2012:
http://hugin.info/111/R/1628140/521232.xls
2nd Quarter 2012:
http://hugin.info/111/R/1628140/521238.pdf
Presentation of 2nd Quarter 2012:
http://hugin.info/111/R/1628140/521239.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#1628140]
Unternehmensinformation / Kurzprofil:
Datum: 20.07.2012 - 06:56 Uhr
Sprache: Deutsch
News-ID 167176
Anzahl Zeichen: 3970
contact information:
Town:
Oslo
Kategorie:
Business News
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