Orkla ASA: Adjusted historical figures for 2011 and 2012
(Thomson Reuters ONE) -
We refer to the press release dated 9 January 2013 regarding new corporate
structure. Quarterly figures according to the new structure are attached. An
Excel file with adjusted figures is available here:
http://www.orkla.com/Investor-relations/Download-center
In addition Orkla's financial statements for the years 2011 and 2012 are
adjusted due to changes in the pension standard (IAS 19) and the implementation
of IFRS 11 Joint Arrangements. The changes apply from 1 January 2013, but
historical figures are changed accordingly. The change is described in Note 3 in
Orkla's Annual Report 2012.
The main change in the pension standard is that the so-called "corridor
approach" is no longer permitted as an alternative. According to the new
standard, net pension liabilities shall be fully reported in the balance sheet
and all estimate variances shall be charged to the Group's equity and recognized
in the statement of comprehensive income. Due to this the estimate variances
will no longer be charged to the Group's EBITA.
Additionally, the financial part of net pension costs is reported as financial
items rather than as part of net pension expenses in EBITA.
Introduction of the new principle implies that equity is reduced by around
NOK 650 million as of 31 December 2012 following the recognition of accumulated
estimate variances after tax. EBITA for 2012 is increased with NOK 33 million
(NOK 17 million in 2011) following that the accounting of estimate variances no
longer can be recognized in the ordinary result. In addition, EBITA is increased
with additional NOK 43 million (NOK 44 million in 2011) following that the
financial part of the pension cost now will be reported as financial items.
Orkla's ownership in Rygge that previously has been reported as joint venture
(IFRS 11 Joint Arrangements) using the proportional consolidation method
(consolidated with the Group's interest line by line) is adjusted and presented
according to the equity method (single line consolidation, similar as an
associate). The effect on Orkla's income statement is limited. Loss of income is
NOK 105 million and NOK 98 million in 2012 and 2011 respectively. Loss of EBITA
is NOK 12 million and NOK 6 million.
Orkla ASA,
Oslo, 11 April 2013
Contacts:
Rune Helland, SVP Investor Relations
Tel: +47 97 71 32 50
Anders Kalleberg, Investor Relations
Tel: +47 99 04 24 98
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Adjusted historical figures for 2011 and 2012:
http://hugin.info/111/R/1692213/555888.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#1692213]
Unternehmensinformation / Kurzprofil:
Datum: 11.04.2013 - 09:25 Uhr
Sprache: Deutsch
News-ID 248049
Anzahl Zeichen: 3473
contact information:
Town:
Oslo
Kategorie:
Business News
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