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Orkla ASA: Sapa (joint venture) - Announcement of results for the third quarter 2016

· Increased value-add margins

· Improved cost position
· Continued growth in Underlying EBIT

Underlying EBIT for Sapa increased compared to the same quarter of the
previous year driven by higher value-add margins and positive effects from
continuous improvements. The improvements were partly offset by slightly
reduced sales volumes, mainly in the US.

Compared to the same period last year, market demand increased by 0.7% in
North America and 2.1% in Europe. In North America, building and construction
activity and automotive demand contributed positively, while the
transportation segment experienced slower demand. In Europe there were
positive developments in automotive and transportation and a mixed picture in
building and construction.

Underlying EBIT year-to-date increased compared to last year, driven by the
same main factors as for the third quarter.

Going forward, a continued moderate market growth is expected in Europe, while
certain market segments in North America show indications of softening. In
both North America and Europe, aluminium substitution in the automotive
industry is contributing positively.

Key Figures - Sapa (100%)

| NOK million Q3-16 Q3-15 YTD-16 YTD-15 FY15 |
| Sales volume (1000 tonnes) 340 341 1 055 1 052 1 363 |
| Revenues 13 141 13 896 41 117 42 431 55 252 |
| Underlying EBITDA 812 734 2 845 2 238 2 729 |
| Underlying EBIT 487 404 1 862 1 279 1 407 |
| Reported EBIT 497 174 2 071 440 528 |
Orkla ASA

Oslo, 25 October 2016


Senior Vice President Investor Relations

Mattias Orrenius
Tel.: +47 983 66 334

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


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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