ORK Orkla ASA

Orkla ASA: Issuance of Commercial Paper

Orkla ASA: Issuance of Commercial Paper

Orkla ASA has issued a commercial paper of NOK 200,000,000.

Start date:                   25 June 2020

Maturity:                      27 July 2020

Coupon:                      0.30%

Organised by:             DNB Markets 

Orkla ASA

Oslo, 23 June 2020

Ref.:

Senior Vice President Group Treasury

Geir Solli

Tel.:

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

EN
23/06/2020

Underlying

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Reports on Orkla ASA

ABGSC Consumer Goods Research ... (+3)
  • ABGSC Consumer Goods Research
  • Henrik Bartnes
  • Petter Nystrøm
ABGSC Consumer Goods Research ... (+3)
  • ABGSC Consumer Goods Research
  • Henrik Bartnes
  • Petter Nystrøm

Core 2% below, Jotun better

Core EBIT 2% below adj for on-offs, better on lower sales / margin

ABGSC Consumer Goods Research ... (+3)
  • ABGSC Consumer Goods Research
  • Ali Shemmari
  • Petter Nystrøm
Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK110.00) - Colouring outside expectations

We expect Orkla to report Q1 EBIT broadly in line with consensus, but with net profit above on continued strength at Jotun. We reiterate our HOLD and NOK110 target price as we continue to find valuation fair, with the stock trading slightly below its historical discount to SOTP.

Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK110.00) - Indian assets spice it up

The mixed Q4 report had results above expectations and some softness, as CPC was a bit below consensus on weak margins. We reiterate our HOLD, but have raised our target price to NOK110 (105), as a revaluation of the Indian assets offsets slight estimate cuts.

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