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Orkla (ORK) investor relations material
Orkla Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 4.4% organic growth and 1.1% underlying adjusted EBIT growth in Q3, with adjusted EPS up 9% to NOK 1.85.
Operating revenues rose 4.3% to NOK 17,946 million, and profit before tax increased 33% to NOK 1,997 million.
IPO of Orkla India completed, providing financial flexibility and growth opportunities, with Orkla retaining 75% ownership.
Announced NOK 4 billion share buyback program to begin November 2025 and conclude by end of 2026.
Strategic progress includes portfolio simplification and divestments, such as Hydro Power and Lilleborg.
Financial highlights
Q3 operating revenues: NOK 17,946 million, up 4% year-over-year.
Adjusted EBIT was NOK 2,098 million, up 1% year-over-year.
Profit from associates (mainly Jotun) was NOK 603 million, up 10% year-over-year.
Year-to-date cash flow from operations was NOK 4.8 billion, slightly below last year due to working capital build-up and increased investments.
Net interest-bearing debt stood at NOK 17.7 billion, 1.7x EBITDA.
Outlook and guidance
Portfolio company targets for 2023–2026 include 6.9% underlying EBIT (adj.) CAGR, 8–10% revenue CAGR, and ROCE target of 13%.
EBIT (adj.) margin target for 2026 is 10.5–11%.
Raw material prices expected to stabilize in 2025, with neutral cost outlook into 2026, except for cocoa.
Interest rates are lower and inflation has normalized in key markets, with expectations of further rate cuts.
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