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Organic growth in the Nordic region, operational improvements and acquisitions contributed to the Branded Consumer Goods division’s 8.5 % increase in operating profit before amortisation.
The Speciality Materials division achieved an almost NOK 700 million rise in operating profit before amortisation. The improvement was ascribable to a good market situation, a high level of profit from the energy businesses and the effects of improvement programmes.
The return on the Share Portfolio was 27.4 % and the market value was NOK 18.2 billion at year-end. |
Orkla increased its exposure in the solar energy industry through its decision to invest NOK 2.7 billion in a new factory for the production of high-purity silicon in Kristiansand (Norway) and by further increasing its interest in the Renewable Energy Corporation ASA (REC).
The Orkla Group signed a letter of intent with Alcoa with a view to forming a new jointly-owned company based on Sapa’s and Alcoa’s aluminium profile operations. The merged company will be market leader in both Europe and the USA and Orkla will be the majority shareholder.
A decision was made to sell Orkla’s media business, with the exception of Hjemmet Mortensen. The sale was completed in the second half of the year at a gain of more than NOK 4 billion. |