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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 to buy Health and Sports Nutrition Group for SEK 360 mln
Tuesday, 21 Nov 2017 

Nov 21 (Reuters) - Orkla Asa :Orkla has entered into an agreement to purchase the Swedish company Health and Sports Nutrition Group (HSNG) from Stockholm listed Qliro Group <<>>.Orkla says the parties have agreed on a purchase price of SEK 360 million ($42.43 million) on a debt-free basis.HSNG's operations will be maintained as a separate unit in the Orkla Care business area..HSNG runs the ecommerce portals Gymgrossisten and Bodystore, and is the biggest online health and sport nutrition company in the Nordic region.The transaction is conditional on the approval of the competition authorities in Sweden, Norway and Austria."Orkla's goal is to strengthen its focus on digital marketing and sales, and through this acquisition will gain proximity to a large number of engaged consumers. Health is a priority area for us, and we see good opportunities for collaboration with our existing activities, in the form of greater distribution through traditional sales channels and, not least, enhanced consumer insight," says Stig Ebert Nilssen, Orkla EVP and CEO of Orkla Care.  Full Article

Orkla to buy Czech frozen vegetable producer Agrimex
Monday, 20 Nov 2017 

Nov 20 (Reuters) - Orkla Asa :Through its wholly-owned subsidiary Hame, Orkla has signed an agreement to purchase Agrimex, a leading frozen vegetable producer in the Czech Republic.Agrimex has 32 employees and had a turnover of CZK 260 million ($11.98 million) in 2016.The company will be consolidated into Orkla’s financial statements from Dec. 1, 2017..The parties have agreed not to disclose the purchase price.  Full Article

Norway's Orkla sells Denmark's K-salat to Stryhns A/S
Wednesday, 15 Nov 2017 

Nov 15 (Reuters) - Orkla Asa said in a statement::Orkla sells K-Salat to Stryhns A/S.Orkla Foods Denmark has entered into an agreement with Stryhns A/S on the sale of K-Salat.The purpose of the sale is to concentrate activities on fewer categories.K-Salat has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark.Under the agreement, Stryhns A/S will take over the factory with around 100 employees in Havnsø, Vestsjælland.The transaction is expected to be completed in early December 2017, and the entity will be consolidated into the buyer’s financial statements as from 1 December 2017.The price of the transaction was not disclosed.  Full Article

Orkla: Group director corporate communications buys 3,099 shares
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Orkla Asa ::‍Håkon mageli, group director corporate communications and corporate affairs at orkla, has today bought 3,099 shares at a price of nok 79.50​.  Full Article

Orkla Food Ingredients buys Arne B. Corneliussen AS from Danish Crown
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Orkla Asa ::Orkla Food Ingredients to buy Arne B. Corneliussen as, a leading manufacturer and supplier to the Norwegian food industry.The company’s product portfolio consists of spices, marinades, flavourings, starter cultures and other functional ingredients, in addition to packaging solutions.Its customer market is Norwegian food manufacturers with the Norwegian meat industry as main segment.The company, which has 32 employees, has its head office, production facilities, test kitchen and warehouse at Økern in Oslo.Arne B. Corneliussen, established in 1949, has been owned since 1995 by DAT-Schaub A/S, a subsidiary of Danish Crown.The business now being sold had a turnover of 188 million Norwegian crowns ($23.46 million) in 2016.The parties have agreed not to disclose the purchase price.  Full Article

Orkla posts Q3 pre-tax profit above forecast, repeats growth guidance
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Orkla Asa ::Orkla q3 adjusted ebit nok ‍1,267​ million (Reuters poll nok 1.24 billion).Orkla q3 revenues nok ‍9,858​ million (Reuters poll nok 9.87 billion).Qtrly ‍pre-tax profit increased by 13%, ending quarter at nok 1,312 million (Reuters poll nok 1.25 billion)​.Orkla repeats aims to deliver organic growth that at least matches market growth and growth in annual ebit (adjusted) of 6–9% in branded consumer goods in the period 2016–2018‍​.Orkla says cost programmes proceed according to plan, but higher input costs impact profits.  Full Article

Orkla sells NOK 100 mln in bond "Ork83"
Friday, 10 Feb 2017 

Orkla Asa : Orkla has today sold an amount of nok 100 mill. In ork83 . After this, Orkla holds NOK 425 mill. on its own account. The outstanding amount in the market after this is NOK 575 mill. .Nordea Markets acted as dealer in the transactions.  Full Article

Orkla Q3 core operating profit beats forecast
Tuesday, 1 Nov 2016 

Orkla Asa : q3 adjusted ebit nok 1,178 million (Reuters poll nok 1.13 billion) . q3 revenues nok 9,429 million (Reuters poll nok 9.53 billion) . q3 pretax result nok 1,328 million (Reuters poll 1.35 billion) .repeats aims to deliver organic turnover growth that at least matches market growth and annual adjusted ebit growth of 6–9% in branded consumer goods in the period 2016–2018.  Full Article

Orkla makes EUR 6 mln acquisition in the Netherlands
Friday, 2 Sep 2016 

Orkla Asa : Through its wholly-owned subsidiary Sonneveld Group B.V., Orkla Food Ingredients (OFI) has signed and closed an agreement to acquire 70% of the shares in Broer Bakkerijgrondstoffen B.V., a leading manufacturer of almond paste, bakery ingredients and ice cream powder in the Netherlands . The parties have agreed on a purchase price of EUR 6 million on a debt-free basis (100%) . The company’s former owners are the same who owned the sales and distribution company Briceland, which Orkla acquired in December 2015 . Two of the owners will remain minority shareholders with a total of 30% of the company’s shares .Broer has a total of 32 employees, and achieved a turnover of EUR 17 million in 2015 and EBIT (adj.) of EUR 0.7 million.  Full Article

Norway's Orkla Q2 earnings beats forecasts due higher sale, cost-cutting
Friday, 15 Jul 2016 

Orkla Asa : Q2 adjusted EBIT NOK 996 million (Reuters poll NOK 923 million) vs NOK 789 million in Q2 2015 . Q2 revenues NOK 9,433 million (Reuters poll NOK 9.21 billion) vs NOK 7,705 million in Q2 2015 . Q2 pretax result NOK 1,259 million (Reuters poll 1.10 billion) vs NOK 1,280 million in Q2 2015 . "For the ninth consecutive quarter we saw organic sales growth in the branded consumer goods business. Orkla had significant improvement in operating profit due to higher sales and internal improvement projects," said CEO Peter A. Ruzicka . On Brexit: The trade policy situation in the wake of the UK . referendum on leaving the EU is still uncertain... Brexit will have a minor impact in the short term, as the majority of Orkla's operations are in the Nordic and Baltic regions and central Europe, with limited exposure to the UK" . The markets in which Orkla has a presence, growth is expected to remain moderate in the coming years . Says faces increasingly tough competition from imported international brands and private labels . Says raw material and packaging costs have increased, especially for some of the companies . Repeats aims to deliver organic growth that at least matches market growth and annual adjusted EBIT growth of 6–9 percent in the branded consumer goods business in the period 2016–2018.  Full Article

BRIEF-Orkla to buy Health and Sports Nutrition Group for SEK 360 mln

* Orkla has entered into an agreement to purchase the Swedish company Health and Sports Nutrition Group (HSNG) from Stockholm listed Qliro Group