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As stated in the Annual Report, operating revenues increased by 7.0% to NOK
50,441 million in 2021. Operating profit EBIT (adj.) rose 11.9% in 2021 to NOK
6,145 million.
In 2021, earnings per share (adjusted) amounted to NOK 5.17, an increase of
2.6%. Orkla’s Board of Directors will propose to the General Meeting that the
dividend for the 2021 financial year be increased by 25 øre to NOK 3.00 per
share. As at 31 December 2021, the Group had 21,423 employees and 114 factories
in 22 countries.
Last year, Orkla acquired companies for a total of NOK 7,030 million. The
largest acquisitions were 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 three
German pizza chains in September and October.
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 cod liver oil and is a strategically significant
acquisition for Orkla with regard to both health and sustainability.
In February 2022, Orkla Health purchased 100% of the shares in Healthspan Group
Limited, a leading supplier of dietary supplements in the UK market. Healthspan
was established in 1996 and has since built up a strong brand and a broad range
of dietary supplements and skin care products. A total of 92% of the company’s
sales are made direct to consumers. Healthspan Group Limited has around half a
million active customers.
Russia’s invasion of Ukraina
Orkla has decided to cease its Russian operations, Hamé Foods ZAO, which
produces long shelf life food products for the Russian market. The book value of
the assets in the company totalled NOK 150 million as at 31 December 2021.
In addition, Orkla has stopped its imports and exports related to Russia and
Belarus. Orkla’s aggregate operating revenues in Russia and Belarus amounted to
approximately NOK 290 million in 2021. Imports totalled NOK 23 million.
Orkla has no factories in Ukraine, but has in the past made some purchases of
tomato products and tomato paste from the region. Ukraine is one of the world’s
four largest exporters of important agricultural products such as wheat, barley,
maize and rapeseed. Ukraine is also the world’s largest producer and exporter of
sunflower oil and, together with Russia, accounts for a total of 80% of global
sunflower oil production.
Vegetable oils and grain-based products are among Orkla’s largest purchasing
categories, according to the Annual Report.
“A prolonged conflict could affect both the availability and prices of a number
of raw materials and other input factors. Furthermore, we are seeing a sharp
rise in energy prices from an already high level, and expect the conflict to
create greater uncertainty and imbalance in the global flow of goods. All these
elements are expected to affect Orkla in 2022, but the extent of their impact
and the consequences are still unclear,” states the Report of the Board of
Directors.
“It is hard to witness the tragic situation currently unfolding in Ukraine. The
war has cost the lives of many people and caused inconceivable suffering. This
affects us all deeply, and our companies in neighbouring areas quickly took the
initiative to distribute food and personal hygiene products to the victims of
the war, both at the border and inside Ukraine. We have also contributed NOK 5
million to the Red Cross, in addition to donations to other aid organisations,”
says Orkla President and CEO Jaan Ivar Semlitsch.
“The Group has three main priorities in this situation,” he adds. "As a supplier
of critical importance to society, we are intent on maintaining a good level of
service in our home markets. The increases in costs are such that we have to
compensate for them by raising prices. At the same time, it is important for us
to achieve our long-term targets in priority growth areas such as plant-based
products, consumer health and Out of Home, in addition to growing organically
with our existing portfolio.
Sustainability Report
“We at Orkla are committed to creating sustainable growth, and we have come a
long way towards making sustainability work an important, integral part of our
business plans. Since we produce food products and other consumer goods, UN
Sustainable Development Goal 12 - responsible consumption and production - forms
the very core of our sustainability efforts,” Jaan Ivar Semlitsch emphasises.
Orkla has cut greenhouse gas emissions from its own operations by 65% from 2014
to 2021 (relative to turnover). Measured in absolute figures, the change was
56%. The proportion of energy from renewable sources is now 47%. Orkla is
therefore well on its way to reaching its target of reducing greenhouse gas
emissions from its own operations by 65% by 2025 and by 80% by 2040.
Orkla’s targets have been validated by the Science Based Targets Initiative and
entail a reduction in greenhouse gas emissions in line with the 1.5 degree
target limit set in the Paris Agreement.
“Reducing greenhouse gas emissions is one of our foremost environmental
responsibilities. There is strong engagement in Orkla in this respect,” Mr
Semlitsch affirms.
Orkla’s Annual Report is published in an electronic version. The Annual Report
is attached as a pdf file, and may also be found on Orkla’s newly launched
webpages: www.orkla.com/annualreport or www.orkla.no/arsrapport
Orkla ASA
Oslo, 25 March 2022
Ref.:
Group Director, Corporate Communications and Corporate Affairs
Håkon Mageli
Tel.: +47?92 84 58 28
SVP Investor Relations
Kari Lindtvedt
Tel.: +47 95 07 51 14
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act
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