Topics: Food, Drink
Orkla’s portfolio companies report profit improvement
Orkla’s consolidated portfolio companies increased operating profit EBIT (adj.) for the fourth quarter by 17% to NOK 1.6 billion.
The improvement is due to cost reduction measures, positive currency translation effects, price increases and structural growth.
The contribution from associates to Orkla’s profit rose in the fourth quarter by 153% to NOK 372 million. This was mainly the contribut
Orkla announces OFI partnership with Rhône
Orkla today announced a partnership with Rhône, a global private equity firm with a focus on investments in businesses with a transatlantic presence. Investment funds affiliated with Rhône will acquire 40% ownership in Orkla Food Ingredients AS (“OFI”). The transaction implies an enterprise value of NOK 15.5 billion.
Orkla and Rhône expect that the partnership will enable the OFI group to c
Profit growth for Orkla’s portfolio companies
Orkla’s operating revenues increased by 14% in the third quarter to NOK 16.8 billion. The improvement is primarily due to price increases and positive currency translation effects. Eight out of 12 portfolio companies had underlying profit growth.
Orkla’s consolidated portfolio companies increased operating profit EBIT (adj.) by 16% to NOK 1.8 billion in the third quarter.
The profit contribu
Paul Jordahl resigns as CEO of Orkla Foods Europe
Paul Jordahl (62) will step down as CEO of Orkla Foods Europe as of 1 November 2023. Atle Vidar Nagel Johansen will take up the role temporarily from the same date.
“The establishment of Orkla Foods Europe as a portfolio company has now been completed and a comprehensive strategic plan has been drawn up. The company has a new external Board Chair and a very competent Board of Directors. Th