Orkla ASA: Adjusted historical figures for 2011 and 2012

We refer to the press release dated 9 January 2013 regarding new corporate structure. Quarterly figures according to the new structure are attached. An Excel file with adjusted figures is available here:

In addition Orkla's financial statements for the years 2011 and 2012 are adjusted due to changes in the pension standard (IAS 19) and the implementation of IFRS 11 Joint Arrangements. The changes apply from 1 January 2013, but historical figures are changed accordingly. The change is described in Note 3 in Orkla's Annual Report 2012.

The main change in the pension standard is that the so-called "corridor approach" is no longer permitted as an alternative. According to the new standard, net pension liabilities shall be fully reported in the balance sheet and all estimate variances shall be charged to the Group's equity and recognized in the statement of comprehensive income. Due to this the estimate variances will no longer be charged to the Group's EBITA.

Additionally, the financial part of net pension costs is reported as financial items rather than as part of net pension expenses in EBITA.

Introduction of the new principle implies that equity is reduced by around NOK 650 million as of 31 December 2012 following the recognition of accumulated estimate variances after tax. EBITA for 2012 is increased with NOK 33 million (NOK 17 million in 2011) following that the accounting of estimate variances no longer can be recognized in the ordinary result. In addition, EBITA is increased with additional NOK 43 million (NOK 44 million in 2011) following that the financial part of the pension cost now will be reported as financial items.

Orkla's ownership in Rygge that previously has been reported as joint venture (IFRS 11 Joint Arrangements) using the proportional consolidation method (consolidated with the Group's interest line by line) is adjusted and presented according to the equity method (single line consolidation, similar as an associate). The effect on Orkla's income statement is limited. Loss of income is NOK 105 million and NOK 98 million in 2012 and 2011 respectively. Loss of EBITA is NOK 12 million and NOK 6 million.

Orkla ASA,
Oslo, 11 April 2013

Rune Helland, SVP Investor Relations
Tel: +47 97 71 32 50

Anders Kalleberg, Investor Relations
Tel: +47 99 04 24 98

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.