Orkla ASA

Orkla is a consumer goods company in the Nordic and Baltic regions. The Branded Consumer Goods area comprises five business areas: Orkla Foods, Orkla Confectionery and Snacks, Orkla Home and Personal, Orkla International and Orkla Food Ingredients. Co.'s other businesses consist of Granges, a supplier of solutions for the heat exchanger industry; Hydro Power, which produces and supplies power to the Nordic power market; and Orkla Financial Investment, which consists of Orkla Eiendom; in addition to its investments in Sapa (JV), which is engaged in extruded aluminium solutions; and Jotun AS, which is a manufacturer of paint and powder coatings.
  • TickerORK
  • ISINNO0003733800
  • ExchangeOslo Bors
  • SectorFood Producers
  • CountryNorway

Analysts

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Care needs care

The Q2 results were broadly in line with expectations, with organic growth still in a positive territory. However, the surprisingly soft organic growth and outlook for the Care segment disappointed. We reiterate our SELL and NOK65 target price, as the recent sector revaluation offsets our slightly reduced estimates. We still find the valuation uninspiring

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Q2 in line with expectations

We believe this was a neutral report for Orkla, including figures more or less in line with expectations, continued slight positive organic growth for BCG, and no change to the guidance. We expect no significant changes to consensus on the back of the report, and believe a neutral share price reaction is warranted.

Jon Berggren ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Organic growth remains elusive

Orkla is due to report its Q2 results at 07:00 CET on 12 July. We remain cautious ahead of the results and expect no meaningful EBIT growth in BCG YOY, adjusted for acquisitions. We reiterate our SELL and NOK65 target price as we continue to find the valuation rich for what we believe is a questionable growth profile.

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Still a questionable growth story

Orkla published a better than expected Q1 report including underlying figures that were slightly ahead of our expectations and consensus with no changes to the guidance. We have raised our target price to NOK65 (62) primarily on the back of peer-group multiples expansion, but reiterate our SELL as we continue to find the valuation uninspiring with a backdrop of what we consider questionable growth prospects.

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Care needs care

The Q2 results were broadly in line with expectations, with organic growth still in a positive territory. However, the surprisingly soft organic growth and outlook for the Care segment disappointed. We reiterate our SELL and NOK65 target price, as the recent sector revaluation offsets our slightly reduced estimates. We still find the valuation uninspiring

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Q2 in line with expectations

We believe this was a neutral report for Orkla, including figures more or less in line with expectations, continued slight positive organic growth for BCG, and no change to the guidance. We expect no significant changes to consensus on the back of the report, and believe a neutral share price reaction is warranted.

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Organic growth remains elusive

Orkla is due to report its Q2 results at 07:00 CET on 12 July. We remain cautious ahead of the results and expect no meaningful EBIT growth in BCG YOY, adjusted for acquisitions. We reiterate our SELL and NOK65 target price as we continue to find the valuation rich for what we believe is a questionable growth profile.

Ole Martin Westgaard

Orkla (Sell, TP: NOK65.00) - Still a questionable growth story

Orkla published a better than expected Q1 report including underlying figures that were slightly ahead of our expectations and consensus with no changes to the guidance. We have raised our target price to NOK65 (62) primarily on the back of peer-group multiples expansion, but reiterate our SELL as we continue to find the valuation uninspiring with a backdrop of what we consider questionable growth prospects.

Ole Martin Westgaard

Orkla (Sell, TP: NOK62.00) - Q1 slightly above our forecasts

We believe this was a neutral to slightly positive report for Orkla, with underlying results and organic growth slightly above our forecasts, while the reported results were in line. We expect minor positive estimate revisions to consensus 2019e EPS and believe a slightly positive share price reaction is warranted today.

1 director bought

A director at Orkla Asa bought 4,000 shares at 66.940NOK and the significance rating of the trade was 68/100. 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 showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Jon Berggren ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling

Northern Lights

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christoffer Wang Bjørnsen ...
  • Jon Masdal
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Increased risk weighs on ORKLA ASA, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of ORKLA ASA (NO), active in the Food Products industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date April 2, 2019, the closing price was NOK 66.72 and its target price was estimated at NOK 60.34.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Orkla ASA - AGM 25 April 2019

In general, Orkla is in compliance with the Norwegian regulations relating to the organisation and procedures of the AGM. Under ITEM 3.2, the board of directors seeks approval of the Company's remuneration guidelines. The proposed remuneration structure is not in line with ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE. Undet ITEM 3.3, the board of directors seeks approval of a revised LT incentive plan. Although ECGS welcomes the introduction of performance conditions under the plan, the conditions applicable remain undisclosed. ECGS therefore recommends to vote OPPOSE. Fi...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 20/04/2017

In general, Orkla is in compliance with the Norwegian regulations relating to theorganisation and procedures of the AGM.Under ITEMS 3.2, 3.3 and 5.2, the Board of Directors seeks approval for the Company's remuneration guidelines and a share-related incentive arrangement. Since we have various concerns with regard to the Company's executive remuneration package in general and the proposed share-related incentive arrangement in specific, we recommend opposition.Under ITEM 6.3, it is proposed to re-elect Ms. Ingrid Jonasson Blank as member of the Board of Directors. In light of our concerns over...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch