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Orkla ASA (ORK.OL)

ORK.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Orkla: Peter A. Ruzicka Resigns As President And CEO
Monday, 18 Mar 2019 

March 18 (Reuters) - Orkla ASA ::REG-ORKLA ASA: PETER A. RUZICKA RESIGNS AS PRESIDENT AND CEO OF ORKLA.ORKLA - PETER A. RUZICKA TO REMAIN IN POSITION UNTIL ORKLA HAS PRESENTED ITS RESULTS FOR Q1 2019 ON 7 MAY.PROCESS OF FINDING MR RUZICKA'S SUCCESSOR AS PRESIDENT AND CEO WILL BEGIN IMMEDIATELY.TERJE ANDERSEN (61) WILL BE APPOINTED AS ACTING PRESIDENT AND CEO FROM 7 MAY UNTIL A NEW PRESIDENT AND CEO IS IN PLACE.  Full Article

Orkla issues NOK 300 mln commercial paper
Friday, 8 Mar 2019 

March 8 (Reuters) - Orkla ASA ::REG-ORKLA ASA: ISSUANCE OF COMMERCIAL PAPER.HAS ISSUED A COMMERCIAL PAPER OF NOK 300,000,000.  Full Article

Kotipizza Group CFO To Leave The Company
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - Kotipizza Group Oyj ::REG-KOTIPIZZA GROUP OYJ: CHANGES TO MANAGEMENT BOARD OF KOTIPIZZA GROUP.CHIEF FINANCIAL OFFICER AND DEPUTY TO CEO, M.SC. (ECON.) TIMO PIRSKANEN WILL LEAVE COMPANY ON 31 MARCH 2019.FROM 1 APRIL 2019 ONWARDS, ACTING CFO OF KOTIPIZZA GROUP WILL BE VIKTOR SÖDERBERG,.  Full Article

Kotipizza Group Oyj: Orkla ASA To Commence Redemption Proceedings
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Orkla ASA ::REG-KOTIPIZZA GROUP OYJ: ORKLA ASA TO COMMENCE REDEMPTION PROCEEDINGS IN RESPECT OF THE REMAINING KOTIPIZZA GROUP OYJ MINORITY SHARES.  Full Article

Kotipizza Q3 Comparable EBITDA Rises To EUR 2.5 Million
Wednesday, 19 Dec 2018 

Dec 19 (Reuters) - Kotipizza Group Oyj ::REG-KOTIPIZZA GROUP OYJ: STRONG GROWTH CONTINUED IN THIRD QUARTER, SOCIAL BURGERJOINT TURNED PROFITABLE. COMPARABLE NET SALES INCREASED 16% AND EBITDA 2% COMPARED TO PREVIOUS YEAR.Q3 COMPARABLE NET SALES EUR 24.0 MILLION VERSUS EUR 20.7 MILLION YEAR AGO.Q3 COMPARABLE EBITDA EUR 2.5 MILLION VERSUS EUR 2.4 MILLION YEAR AGO.GROUP ESTIMATES FOR FULL FINANCIAL YEAR STARTED 1 FEBRUARY 2018 THAT TOTAL CHAIN SALES OF ITS RESTAURANT CHAINS WILL BE APPROXIMATELY 120 MEUR.Q3 COMPARABLE EBITDA EUR OUTLOOK FOR FULL FINANCIAL YEAR 2019 SPECIFIED DUE TO PUBLIC CASH TENDER OFFER MADE BY ORKLA ASA MILLION VERSUS EUR 2.4 MILLION YEAR AGO.EXPECTS TOTAL CHAIN SALES OF ITS RESTAURANT CHAINS WILL BE APPROXIMATELY 120 MEUR.OUTLOOK: COMPARABLE EBITDA WILL INCREASE AS COMPARED TO PREVIOUS YEAR.EXPECTS COMPARABLE EBITDA WILL INCREASE AS COMPARED TO PREVIOUS YEAR.SAYS COMPARABLE EBITDA OUTLOOK DOES NOT INCLUDE COSTS RELATED TO RECOMMENDED PUBLIC CASH TENDER OFFER MADE BY ORKLA ASA.COMPLETION OF TENDER OFFER IS NOT EXPECTED TO HAVE ANY IMMEDIATE MATERIAL EFFECTS ON KOTIPIZZA GROUP'S OPERATIONS.  Full Article

Orkla says to launch formal bid for Kotipizza on Dec 7
Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - Orkla Asa ::COMMENCES RECOMMENDED PUBLIC CASH TENDER OFFER FOR ALL SHARES IN KOTIPIZZA GROUP OYJ ON 7 DECEMBER 2018.ORKLA AND KOTIPIZZA GROUP OYJ ANNOUNCED ON 22 NOVEMBER THAT THEY HAD ENTERED INTO A COMBINATION AGREEMENT PURSUANT TO WHICH ORKLA UNDERTOOK TO MAKE A VOLUNTARY RECOMMENDED PUBLIC CASH TENDER OFFER.  Full Article

Norway's Orkla offers to buy Finnish Kotipizza for EUR 146.1 mln
Thursday, 22 Nov 2018 

Nov 22 (Reuters) - Orkla Asa ::REG-ORKLA ASA: ORKLA SEEKS TO ACQUIRE KOTIPIZZA.ORKLA HAS TODAY SIGNED A COMBINATION AGREEMENT TO LAUNCH AN OFFER TO PURCHASE ALL SHARES IN KOTIPIZZA GROUP OYJ ("KOTIPIZZA GROUP"), OWNER OF FINLAND'S LARGEST CHAIN FOR PIZZA RESTAURANTS.OFFER PRICE IS EUR 23 PER SHARE (CA. NOK 224 PER SHARE), WHICH VALUES KOTIPIZZA GROUP'S EQUITY AT APPROXIMATELY EUR 146.1 MILLION (CA. NOK 1.4 BILLION) VS LAST CLOSING AT EUR 16.60 .BOARD OF DIRECTORS OF KOTIPIZZA GROUP HAS UNANIMOUSLY DECIDED TO RECOMMEND SHAREHOLDERS OF KOTIPIZZA GROUP TO ACCEPT THIS OFFER.KOTIPIZZA GROUP HAD TOTAL NET SALES OF EUR 84.1 MILLION (CA. NOK 789 MILLION) IN FINANCIAL YEAR 2017 AND EBIT OF EUR 6.4 MILLION (CA. NOK 60 MILLION) .KOTIPIZZA GROUP IS HEADQUARTERED IN HELSINKI, FINLAND AND CURRENTLY HAS 95 EMPLOYEES.ACQUISITION OF KOTIPIZZA GROUP IS IN LINE WITH OUR STRATEGIC AMBITION TO INCREASE OUR PRESENCE IN CHANNELS WITH FASTER GROWTH THAN TRADITIONAL GROCERY.COMPLETION OF TENDER OFFER IS SUBJECT TO APPROVALS BY RELEVANT REGULATORY AUTHORITIES AND ORKLA GAINING CONTROL OF MORE THAN 90 PER CENT OF KOTIPIZZA SHARES.  Full Article

Orkla Q3 adjusted EBIT slightly ahead of forecast
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Orkla ASA ::ORKLA Q3 ADJUSTED EBIT NOK 1,353 MILLION (REUTERS POLL NOK 1.32 BILLION).ORKLA Q3 REVENUES NOK 10,126 MILLION (REUTERS POLL NOK 10.15 BILLION).  Full Article

Orkla Q2 Adjusted EBIT NOK 1.12 Bln, Above Expectations
Friday, 13 Jul 2018 

July 13 (Reuters) - Orkla ASA ::REG-PROFIT GROWTH FOR ORKLA.OPERATING REVENUES ROSE 3% IN Q2, TO NOK 10,017 MILLION..SALES GROWTH IN NORWAY WAS WEAKER THAN LAST YEAR, PARTLY AS A RESULT OF 83% INCREASE IN TAX ON CHOCOLATE AND SUGAR.ORKLA'S OPERATING PROFIT (EBIT ADJUSTED.) INCREASED BY 9% IN Q2 TO NOK 1,119 MILLION.ORKLA Q2 REVENUES NOK 10.02 BLN (REUTERS POLL NOK 10.2 BILLION).CONTINUES TO FACE STRONG COMPETITION FROM INTERNATIONAL BRANDS AND THE RETAIL TRADE’S PRIVATE LABELS.PROFIT FROM ASSOCIATES DECLINED IN THE FIRST HALF ON ACCOUNT OF WEAKER RESULTS FROM JOTUN..LOCAL PLAYERS ARE GAINING IN STRENGTH AT THE EXPENSE OF MAJOR GLOBAL MANUFACTURERS.ORKLA Q2 ADJUSTED EBIT NOK 1.12 BILLION (REUTERS POLL NOK 1.08 BILLION).PROFIT FROM ASSOCIATES AMOUNTED TO NOK 105 MILLION IN Q2.TAX FOR THE H1 2018 INCREASED, YEAR OVER YEAR, MAINLY DUE TO THE INCREASE IN ECONOMIC RENT TAX RELATED TO POWER OPERATIONS IN NORWAY.  Full Article

Norway's Orkla buys back shares
Monday, 14 May 2018 

May 14 (Reuters) - Orkla ASA ::ORKLA ASA HAS TODAY BOUGHT 390,000 ORKLA SHARES THROUGH BROKER AT AN AVERAGE PRICE OF NOK 74.0568 PER SHARE..ORKLA'S TOTAL HOLDING OF TREASURY SHARES AFTER THIS TRANSACTION IS 4,786,933 SHARES..  Full Article

Deals of the day-Mergers and acquisitions

Nov 23 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday: