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Orkla ASA: Improved profit for Orkla

Orkla's operating profit (EBITA) totalled NOK 736 million in the first quarter
of 2014. This was an improvement of 23% from the corresponding quarter of
2013. Orkla's operating revenues were NOK 8,306 million, up from NOK 7,219
million in the same period of last year.

Operating profit for Orkla's branded consumer goods business increased by 13%
to NOK 655 million in the quarter.

Orkla Foods realised substantial cost synergies as a result of the integration
of Rieber&Søn, while Orkla Confectionery&Snacks reported a fall in operating
profit in the quarter. Orkla Home&Personal and Orkla Food Ingredients
achieved improved results. Although Orkla Brands Russia continued to post a
negative operating result, the other businesses contributed to profit
improvement for Orkla International.

Orkla's branded consumer goods business had a turnover of NOK 6,970 million,
equivalent to a rise of 17%. This growth is ascribable to acquisitions and
favourable currency translation effects.
"Seen in isolation, I am pleased with the improvement in profit this quarter,
but our biggest challenge is to create organic growth in sales. A number of
initiatives will contribute towards achieving this objective. We will focus
on fewer, but bigger innovations, and direct more resources and marketing
towards our strongest brands. In time, we will see the results of these
systematic efforts,"
says Orkla President and CEO Peter A. Ruzicka.

The aluminium company Gränges reported operating profit of NOK 117 million, up
from NOK 85 million in the corresponding period of last year. This
improvement is due to higher volumes and the effects of improvement
programmes. Orkla's Board of Directors has decided to explore the
possibilities of undertaking an IPO of Gränges on NASDAQ OMX Stockholm.

Hydro Power posted operating profit of NOK 58 million, compared with a loss of
NOK 3 million in the first quarter of 2013. Significantly higher volume due
to heavy precipitation at the start of the year more than offset lower power

Operating profit for Sapa increased in the first quarter compared with the
first quarter of 2013. Sapa's announced restructuring processes are on track,
and Sapa's net contribution to profit was affected by costs related to these
processes. Demand for extruded aluminium products rose by 5%, year over year,
in North America. There was corresponding growth of 2% in Europe.

Jotun achieved satisfactory results for the first quarter of 2014. All
segments in Jotun reported growth in sales.

Orkla's profit before tax amounted to NOK 639 million, compared with NOK 900
million in the same period of 2013.

Orkla ASA
Oslo, 8 May 2014

Group Director Corporate Communications and Corporate Affairs
Håkon Mageli
Mob: +47 928 45 828

SVP Investor Relations
Rune Helland
Mob.: +47 977 13 250

Excel spreadsheets with key figures are available on


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Presentation of 1st Quarter 2014
1st Quarter 2014


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Orkla ASA via Globenewswire


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