Capital Markets Update 2025

On the 28 May 2025, Orkla hosted a Capital Markets Update in Oslo, where we confimed our progress on the strategy presented on the Capital Markets Day in November 2023.

Please find relevant presentation materials below.

Link to Webcast

Orkla confirms progress on strategy

Following structural changes and strong performance in key areas, Orkla outlined how it is positioning for continued profitable growth.

At its Capital Markets Update today, Orkla ASA confirmed it is on track to reach the financial targets presented at the 2023 Capital Markets Day. The company also provided insights into value creation in the three largest consolidated portfolio companies: Orkla Foods, Orkla Snacks and Orkla Food Ingredients.

"We are developing a less complex, more focused portfolio. Through a combination of profitable growth, disciplined capital allocation and value-creating structural transactions, we aim to deliver on our financial targets," says Nils K. Selte, President and CEO of Orkla.

Financial targets for 2024-2026
The key financial targets remain unchanged. These include 12-14% Total Shareholder Return (TSR) per year in the period 2024-2026, as well as:

Underlying EBIT (adj.) growth of 8-10% CAGR in the period 2024-2026
Improvement in EBIT (adj.) margin from 9% in 2023 to 10.5-11% in 2026
Improvement in ROCE from 10% in 2023 to 13% by 2026

Orkla's capital allocation priorities remain firm: a stable and increasing dividend, value-accretive investments, and return of excess capital to shareholders.

Simplification and structural progress
Since the 2023 Capital Markets Day, Orkla has reduced the number of portfolio companies from 12 to 10 and is targeting 7-9 by year-end 2026. This simplification supports Orkla's three strategic priorities: driving organic value in the existing portfolio, reducing complexity, and executing value-adding structural transactions. Orkla continues to categorise the portfolio companies as "Grow and Build", "Anchor", or "Transform or Exit".

Orkla Home & Personal Care has been reclassified from the "Transform or Exit" category to "Anchor", reflecting a strong operational turnaround. EBIT (adj.) has more than doubled from 2022 to 2024, and the company delivered strong cash flow in 2024.

"The move reflects Orkla Home & Personal Care's improved performance, positioning it as a solid contributor going forward," says Selte. Presentation and materials

Presenters at the event: Nils K. Selte, President and CEO Orkla ASA