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Pre-close information Q2 2026

As a service to the capital markets, the Orkla IR team would like to draw your attention to the following items to remember in advance of Q2 2026 reporting.

We omit P&L items for the consolidated portfolio companies that are categorized as “other income and expenses” from the commentary, as these have already been removed from EBIT adjusted. We instead focus on items that are expected to be of a non-recurring nature, as well as previously communicated outlook statements.

General information

  • Dividend: The Annual General Meeting (23 April 2026) approved an ordinary dividend of NOK 4.00 per share plus an additional dividend of NOK 2.00 per share for the 2025 financial year. The dividend was paid on 7 May 2026 (Q2 2026) and therefore affects the cash flow and net interest-bearing debt comparison versus Q2 2025.
  • Share buyback program: At the Q3 2025 presentation, Orkla announced the launch of a NOK 4 billion share buyback program: Orkla - Orkla initiates share buyback program. Transaction reports are published via NewsWeb and are available on the investor relations website. The Annual General Meeting approved the cancellation of treasury shares, with effect from 15 June 2026Orkla - Orkla ASA: Amortisation of own shares. Total number of shares following the reduction: 985,429,944.
  • Jotun dividend timing shift (Q1 2026): Orkla received the first instalment of the 2025 Jotun dividend in Q1 2026, whereas last year the corresponding instalment was received in Q2 2025.
  • Input cost outlook (Q1 2026): For the consolidated portfolio, Orkla sees upward pressure on energy, freight and packaging-related input costs. The picture is differentiated across the portfolio, and mitigating actions are tailored accordingly.
  • Easter calendar effect (Q1 2026): volume/mix growth in the first quarter was supported by continued improvement in commercial capabilities with a modest uplift from Easter effects in Orkla Foods, Orkla Snacks, Orkla Food Ingredients in the Bakery cluster, and Orkla Home and Personal Care.
     

Portfolio companies

Jotun 

  • Outlook (Q1 2026): Jotun forecasts substantial input cost increases from the second quarter, which are expected to compress gross margins. They are taking steps to mitigate the impact through price increases, alternative sourcing initiatives, continued cost control and delayed Middle East investments. Nevertheless, mitigating actions will take time to materialize, and demand-related effects remain uncertain.

Orkla Foods

  • Transactions:
    • On 12 June 2026, Orkla Foods announced the acquisition of a minority stake in Go-Tan Group (40%). Closing is expected in the second half of 2026.
    • On 17 June 2026, Orkla Foods announced the acquisition of 100% of the shares in the Danish bakery company TC Brød. Closing is expected by the end of Q2 2027.

Orkla Snacks

  • Transactions: On 26 March 2026, Orkla Snacks announced the divestment of Nói-Síríus, the leading manufacturer of chocolate and confectionery in Iceland. Closing is expected in Q2 2026.

Orkla Food Ingredients

  • Transactions:
    • On 17 February 2026, Orkla Food Ingredients announced the acquisition of Senna, a leading Austrian producer of margarine, specialty fats, oils, sauces and dressings. Closing of the transaction was completed in May, and Senna will be consolidated from 31 May 2026.
    • On 18 May 2026, Orkla Food Ingredients announced the acquisition of Phoenix Brands, a UK-based producer of biscuits and baked inclusions. Signing at closing was on the same date, and Phoenix Brands will be consolidated from 1 May 2026

Orkla Health

  • Outlook (Q1 2026): We expect this to be a challenging year for Orkla Health. The company is taking measures to reduce the cost base and plans to close three factories by the end of 2027. While these measures will improve profitability over the long term, we anticipate negative impacts related to the wind down of the factories going forward. In addition, high cod liver oil prices and the termination of a customer contract (expires in Q1 2027) in the functional personal care category, have weighed on results.

Orkla India

  • Government grants (Q2 2025): Revenues and EBIT (adj.) for Q2 2025 included financial incentives provided by the Government of India of NOK 6 million.

M&A

Please find an overview of acquisitions and disposals here: Orkla - M&A