Orkla As A S/Adr (ORKLY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the presentation of Orkla's second quarter results. My name is Annie Bersagel and I'm the head of investor relations and communications. Our president and CEO, Nils Selte, will be unable to join us today due to previously planned travel. So our CFO, Arve Regland, will be holding both the presentation and the Q&A. Now before I turn it over to Eideve, I just want to remind everyone that we're going to begin with the video Q&A with our analysts, and after that we will turn over to questions from the web. So if you have a question, please feel free to submit that at any time, and we will take those at the very end. So with that out of the way, I will hand the floor over to you, Eideve. Thank you, Annie, and good morning, everyone. So Orkla's consolidated portfolio companies had a flat organic top-line development quarter and a 2.5% EBIT growth. Overall, we are not satisfied with these results. However, Jotunn delivered another strong quarter, contributing to a 3% improvement in adjusted earnings per share. We continued to execute on our capital allocation priorities. and in July we completed the 4 billion share buyback program that was announced in last November. During and following the quarter, portfolio companies announced several acquisitions in prioritized categories. The largest of these was Orkla Snacks' acquisition of the European Candy Group. Cloud Foods also announced the acquisition of a 40% stake in Gotan Group, strengthening its position in sources. This transaction was closed Tuesday this week. Both of these transactions strengthen existing category positions and support long-term growth. For the consolidated portfolio, volume mix declined 1.3%. Overall price increases were offset by lower volumes across several portfolio compani...