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million.
Operating revenues for the full year increased by 7.0 % to NOK 50,441 million.
In 2021, operating profit EBIT (adj.) showed growth of 11.9% and amounted to NOK
6,145 million. This is the highest operating profit EBIT (adj.) ever for Orkla.
In 2021, earnings per share (adjusted) were NOK 5.17, an increase of 2.6%.
Orkla’s Board of Directors intends to propose that the dividend for the 2021
financial year to be increased by 25 øre to NOK 3.00 per share. At year end, the
Group had 21,423 employees and 114 factories in 22 countries.
“Orkla’s branded consumer goods business had good income growth in 2021. We made
several strategically important acquisitions and strengthened our positions in
priority growth areas such as plant-based products, consumer health and Out of
Home. Orkla has established a platform for generating sustainable, profitable
growth with a good cash flow that will also make it possible to pay out solid
dividends to our shareholders in the years ahead,” says Orkla President and CEO
Jaan Ivar Semlitsch.
Orkla’s branded consumer goods business achieved 8.4% growth in operating
revenues in the fourth quarter. Organic turnover growth was 5.5%.
Orkla Food Ingredients posted the biggest improvement with organic turnover
growth of 16.1%. This business area had somewhat limited activity in the Out of
Home channel in the fourth quarter of 2020 due to the pandemic. Orkla
Confectionery & Snacks and Orkla Foods had organic growth of 5.5% and 4.1%,
respectively, in the fourth quarter of 2021. Orkla Consumer Investments and
Orkla Care, on the other hand, experienced an organic decline of 5.7% and 1.2%,
respectively. Both these business areas had comparables in the fourth quarter of
2020 that were positively affected by the pandemic.
Profit from associates and joint ventures totalled NOK 105 million in the fourth
quarter, compared with NOK 225 million in the same quarter of 2020. The decline
is due to lower contributions to profit from Jotun. There was positive sales
growth in all Jotun’s market segments, but the extraordinary rise in raw
material prices had a negative impact on profitability.
Hydro Power reported operating profit EBIT (adj.) of NOK 415 million in the
fourth quarter, compared with NOK 25 million year over year. The increase is due
to substantially higher power prices than in the same quarter of 2020. Long
periods of low temperatures and high consumption contributed to the high power
prices.
The Group’s other income and expenses totalled NOK -88 million in the fourth
quarter, compared with NOK -468 million in the same period of 2020 which
included recognition of substantial expenses and a write-down related to ERP
projects.
Orkla’s profit before tax rose by 42.7% to NOK 1,841 million in the fourth
quarter. Adjusted earnings per share were NOK 1.40 for the quarter, a year-over
-year decline of 2.1%.
In 2021, Orkla acquired companies for NOK 7,030 million. The largest
acquisitions are the health and wellness company NutraQ, the Indian spice
company Eastern Condiments (67.8% interest) and the Netherlands pizza chain New
York Pizza (75% interest).
In addition, New York Pizza purchased the German pizza chains Stückwerk, Flying
Pizza and Pizza Planet in September and October. Orkla now has 663 franchised
pizza outlets, 296 of which are Finland, 255 in the Netherlands and Belgium, and
112 in Germany.
In January 2022, Orkla Health completed an agreement to purchase 95% of the
shares in Vesterålen Marine Olje. The company has been an important supplier of
raw materials for Möller’s Tran and is an acquisition of strategic importance
for Orkla in terms of both the health segment and sustainability.
Orkla ASA
Oslo, 10 February 2022
Ref.:
Group Director Corporate Communications and Corporate Affairs
Håkon Mageli, mob.: +47 928 45 828
SVP Investor Relations
Kari Lindtvedt, mob.: +47 950 75 114
An Excel spreadsheet showing key figures may be found at
https://investors.orkla.com/
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Kjetil Sørum, Investor
Relations Manager at Orkla ASA, on 10 February 2022 at 07:00 CEST.
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