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2014-04-30

Orkla ASA : Sapa (joint venture) - Announcement of results for the first quarter 2014

Sapa is a 50/50 joint venture between Norsk Hydro ASA's Extruded products
business area and Orkla ASA's Sapa and is the global leader in extruded
aluminum solutions. The joint venture was established on 1 September 2013.

Underlying EBIT for Sapa improved in the first quarter 2014 compared to the
first quarter 2013.
Sapa's restructuring agenda is progressing according to plan and reported EBIT
is affected by related restructuring charges.

Key Figures - Sapa (100%)

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|NOK million Proforma Q1 2013 Q1 2014 |
|Sales volume (1000 tonnes) 346 359 |
|Revenues 10 367 11 346 |
|Underlying EBITDA 304 440 |
|Underlying EBIT 16 155 |
|Reported EBIT -148 -3 |
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Orkla's share of Sapa's net income for the quarter was
NOK -51 million.
Market Comments:

Demand for extruded products in North America improved compared to fourth
quarter 2013, driven by seasonality. Compared to the same quarter of the
previous year, demand grew 5 percent, mainly supported by growth in the
automotive and building market segments. Extruded demand in South America
show signs of weakening.

In Europe, extruded products demand increased by 4 percent from the fourth
quarter of last year, mainly due to seasonality. Demand improved 2 percent
compared to the first quarter of 2013, supported by higher automotive demand,
somewhat offset by weaker transport, renewable energy and building market
segments, in particular in Southern Europe.

Global demand for precision tubing continued to be driven by increased demand
from the automotive market sector.

Orkla ASA
Oslo, 30 April 2014

Contacts:
Rune Helland, SVP Investor Relations
Tel.: +47 97 71 32 50

Ane Bryn-Haugland, Investor Relations
Tel.: +47 98 06 81 26

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

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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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