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Preliminary results – First Quarter 2012

We refer to today’s stock exchange notification concerning the change of President and CEO at Orkla. In consequence, Orkla has chosen to publish preliminary results for the first quarter of 2012 today, 30 April.

The financial statements will be formally considered at a meeting of the Board of Directors on Wednesday, 2 May 2012, and will be published on Thursday, 3 May at 7 a.m. The results will be presented, as announced earlier, on Thursday, 3 May, at 8 a.m. in the Vika Atrium Conference Centre. The presentation will be held in English and may be seen live at webcast.

Preliminary results for the first quarter of 2012:
Key figures Q1-12 (Q1-11) in NOK million:
Operating revenues: 14,792 (15,000)
EBITA: 888 (786)
Profit before tax: 1,550 (1,960)
Diluted earnings per share: (NOK) 1.3 (2.9)
Cash flow from operations: 16 (-437)

Net interest-bearing liabilities: 9,487 (20,664)
Equity ratio (%): 52.6 (55.6)
Net gearing: 0.27 (0.42)

The quarterly report on preliminary results for the first quarter of 2012 is attached herewith: Preliminary 1st Quarter 2012

For more information regarding Orkla’s preliminary first-quarter results, please contact the following persons:

Terje Andersen, CFO (+47 2254 4419); Rune Helland, SVP Investor Relations (+47 2254 4411);  Siv Merethe S. Brekke, VP Investor Relations (+47 2254 4455).

In connection with the change of CEO, a telephone conference will be held for investors and analysts today, Monday, 30 April at 3 p.m. with Acting President and CEO Åge Korsvold. Mr Korsvold was Deputy Chair of the Board of Directors until he was appointed Acting President and CEO.
 
The telephone conference can be listened in on by calling tel. no: +47 23 18 45 74.