ORK Orkla ASA

Orkla ASA: Jotun quarterly update

Orkla ASA: Jotun quarterly update

Jotun, of which Orkla owns 42.6%, has issued a quarterly update for 1 April - 30 June 2020.  

Please find the quarterly update enclosed.



Orkla ASA

Oslo, 13 July 2020



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

Attachment

EN
13/07/2020

Underlying

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Reports on Orkla ASA

Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK81.00) - From gross margin to opex focus

We are slightly positive ahead of the Q1 results (due at 07:00 CET on 3 May), expecting adj. EBIT 6% above consensus on marginally higher margins in the consolidated portfolio companies (CPC). We reiterate our HOLD and NOK81 target price.

Orkla ASA: 1 director

A director at Orkla ASA bought 12,930 shares at 76.300NOK and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...

Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK81.00) - Early signs of margin recovery

Q4 disappointed; however, encouragingly, we believe there were early signs that the negative volume trend looks to be easing and margins seem to have troughed. We reiterate our HOLD, but have lowered our target price to NOK81 (85) on our negative estimate revisions.

Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK85.00) - Weak Q4 with an improved outlook

We consider this a soft report, with figures below expectations due to weaker than expected margins and slightly positive outlook comments. We expect a 1–3% negative revision to consensus 2024 adj. EBIT on the back of the report and believe a slight negative share price reaction is warranted.

Ole Martin Westgaard
  • Ole Martin Westgaard

Orkla (Hold, TP: NOK85.00) - Set for CPC margin recovery in Q4

We are positive ahead of the Q4 results (due at 07:00 CET on 8 February), expecting adj. EBIT 19% above consensus, largely reflecting a margin recovery in CPC and continued strong price-driven organic growth. We reiterate our HOLD and NOK85 target price.

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