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Orkla (ORK) investor relations material

Orkla Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary14 Jul, 2025

Executive summary

  • Organic growth reached 3.8%–4.9%, mainly from price increases and some volume growth across portfolio companies.

  • Adjusted EBIT grew 2.5%–6% year-over-year, with margin improvements and mixed results across segments.

  • Adjusted EPS was NOK 1.56–3.24, up 0.6%–9.5% year-over-year.

  • Portfolio simplification continued with divestments of hydropower assets and Pierre Robert Group.

  • Orkla India filed a draft hearing prospectus, progressing toward an IPO.

Financial highlights

  • Operating revenue rose 3.5%–5% year-over-year, driven by organic sales growth.

  • Adjusted EBIT margin for consolidated portfolio companies at 10.3% in Q2 2025.

  • Cash flow from operations in H1 was NOK 2.4 billion, down from NOK 2.8 billion year-over-year.

  • Net interest-bearing debt/EBITDA at 1.6x–2.0x as of Q2 2025.

  • ROCE for consolidated portfolio companies increased to 11.8% (up from 10.6% year-over-year).

Outlook and guidance

  • Raw material prices expected to stabilize in 2025, but cocoa and food inflation remain high and volatile.

  • Jotun's 2025 outlook remains positive despite currency and economic uncertainties.

  • Financial targets for 2024–2026: 8–10% underlying EBIT (adj.) CAGR, 1.5–2.0 pp margin improvement, ROCE to reach 13% by 2026.

  • Continued focus on organic value creation and portfolio optimization.

  • Food inflation in the EU and Norway remains high, raising uncertainty about consumer demand.

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Frequently asked questions

Orkla ASA is an industrial conglomerate that serves consumers in the Nordic region, Baltic region, and selected markets in Central Europe and India. Orkla’s business segments are Branded Consumer Goods, Materials, Financial Investments and Other Operations. Orkla’s primary focus is on branded consumer goods, which accounted for about 80 percent of its 2015 sales. The company is headquartered in Oslo, Norway.

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