Topics: Food, Drink
Orkla delivers a robust quarterly performance
Orkla achieved a profit before tax of NOK 1.9 billion in the first quarter of 2024, up 8%, year over year. Revenues rose by 6%, to NOK 17.1 billion.
Orkla’s Consolidated Portfolio Companies (including headquarters) increased EBIT (adj.) by 19%, to NOK 1.6 billion, in the first quarter of the year. The improvement is attributable to price and volume growth, cost-cutting measures and positive cur
Aku Vikström has been appointed CEO Orkla Foods Europe
Orkla Foods Europe’s Board of Directors has appointed Aku Vikström (52) as new CEO. He succeeds Atle Vidar Nagel Johansen, who temporarily has held the position since October 2023.
“We have conducted a comprehensive recruitment process and are pleased that Aku Vikström has accepted the position as the new CEO. He has a proven track record of creating value in various CEO positions under differ
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
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
New Board of Directors at Orkla Confectionery & Snacks
A new Board of Directors has been appointed today at Orkla Confectionery & Snacks (OCS). Orkla’s EVP & Investment Executive Audun Stensvold will serve as Board Chair. He will be joined on the Board by two external Board members, Thomas A. Bittinger and Gro Krigsvoll.
The Board of Directors of OCS will also comprise SVP Marte Kaarbø Mathisen from Orkla’s investment team, as well as two e
Vicky Philemon new CEO in Orkla House Care
Vicky Philemon is appointed as the new CEO of Orkla’s portfolio company Orkla House Care.
The Board of Directors of Orkla House Care has hired Vicky Philemon as the new CEO. She succeeds Johannes Arbo Høeg who steps down from the role as CEO after 7 years.
Vicky joins from the position of SVP & Managing Director Europe for the American company Masonite, which she has held since
External Board Chairman in Orkla Foods Europe
Xavier Belison and Kjersti Hobøl have been appointed as chairman and member, respectively, of the Board of Directors of Orkla Foods Europe.
On 1 March, Orkla ASA was established as an investment company with 12 autonomous portfolio companies. Some of the companies – such as Orkla Foods Europe – will have external Board members.
Xavier Belison was appointed today as Chairman of the Board of
Orkla to become an industrial investment company
Orkla is to be transformed into a leading industrial investment company with a brands and consumer-oriented scope. Orkla will consist of 12 portfolio companies.
Orkla’s Board of Directors decided yesterday to establish a new corporate structure and management team.
“We want to establish a corporate structure and culture that creates greater value and entails greater autonomy and responsibili