Brief: Orkla Says Increases In Costs Other Than Input Costs To Remain Challenging In Time To Come

Orkla ASA

09/05/2023 06:17

May 9 (Reuters) - Orkla ASA  ORK.OL :
    * JOTUN AND ORKLA FOOD INGREDIENTS HAVE DELIVERED A PARTICULARLY STRONG PERFORMANCE
    * INCREASED INFLATION AND RISING INTEREST RATES HAVE REDUCED CONSUMER PURCHASING POWER IN
MOST OF
OUR MARKETS, IN TURN PUTTING PRESSURE ON OUR SALES VOLUMES
    * WE HAVE STRONG BRANDS AND ROBUST VALUE CHAINS
    * ORKLA HAS SEEN SUBSTANTIAL INCREASE IN INPUT COSTS IN THE QUARTER COMPARED WITH THE SAME
PERIOD
OF 2022
    * ORKLA IS ALSO EXPERIENCING INCREASES IN COSTS OTHER THAN INPUT COSTS, A SITUATION THAT IS
EXPECTED TO REMAIN CHALLENGING IN THE TIME TO COME
    * HIGH INFLATION AND LOWER BUYING POWER AND DEMAND ARE EXPECTED TO HAVE A NEGATIVE IMPACT ON
VOLUME PERFORMANCE, ESPECIALLY IN THE NORDICS, BALTICS AND CENTRAL EUROPE
    * COMPETITION FROM PRIVATE LABEL IS EXPECTED TO CONTINUE TO INCREASE

Source text for Eikon:  ID:nWkr2qdmbW 
Further company coverage:  ORK.OL 

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