Investing.com -- Orkla delivered third-quarter operating revenue of NOK 17.9 billion, with organic growth of 4.4% driven by a 1.3% improvement in volume and mix.
The Norwegian branded consumer goods group’s adjusted EBIT increased 2.1% to NOK 2 billion during the quarter, while underlying EBIT across the consolidated portfolio companies rose 1.1%.
Associated companies contributed NOK 603 million in profit, largely from Orkla’s 42.7% stake in Jotun. Adjusted for currency headwinds, Jotun achieved 4% sales growth, supported by higher volumes and increased sales of premium decorative products.
Reported EBITA rose 6% in the quarter, or 12% when excluding currency effects, underscoring continued resilience in its coatings business.
Group profit before tax reached NOK 2 billion, and adjusted earnings per share (EPS) rose 9% year-over-year to NOK 1.85. The quarter also saw Orkla India successfully listed on the Indian Stock Exchange, with Orkla retaining 75% ownership.
Orkla India CEO Sanjay Sharma called the listing “an important milestone,” adding that it “provides us with greater visibility and many strategic options to pursue our growth ambitions.”
Orkla President and CEO Nils K. Selte said the IPO “represents an important step in our strategy to unlock long-term value,” noting that it lays “the foundation for future growth” and strengthens transparency around the company’s performance.