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Orkla ASA (OTCPK:ORKLY) Q3 2024 Outcomes Convention Name October 29, 2024 3:00 AM ET
Firm Members
Annie Bersagel – Head, IRNils Selte – President and CEOArve Regland – CFO
Annie Bersagel
Good morning, and welcome to Orkla’s presentation of third quarter outcomes. My identify is Annie Bersagel, and I am the brand new Head of Investor Relations.
To start, our President and CEO, Nils Selte, will start with a abstract of the quarter. After that, our CFO, Arve Regland, will go right into a deeper dive with the financials. Earlier than we transfer on to Q&A, Nils will summarize among the foremost messages from the quarter.
Only a little bit of housekeeping. So throughout the presentation, you are welcome to submit questions within the webcast, and we’ll tackle all of your questions within the Q&A session on the finish of the presentation.
So I will now go away the ground to you, Nils.
Nils Selte
Thanks, Annie, and good morning, everybody.
General, in Q3, we continued to enhance profitability and money movement. Adjusted earnings per share had been up 10%, with underlying EBITDA adjusted progress of 17% for the consolidated portfolio corporations, together with headquarter. This comes regardless of considerably elevated promoting and promotional spending throughout the quarter. Natural progress was 3.9% within the quarter, with optimistic contribution from 8 of 10 consolidated portfolio corporations.
On a macro degree, inflation charges proceed to normalize in a lot of our markets. Competitors from personal labor stays excessive and a few markets had been negatively impacted by weak shopper sentiment.
We nonetheless see that the challenges, as I mentioned, with weak shopper buying energy, have eased considerably in comparison with the identical quarter final 12 months.
As we mentioned, in Q2, the event in uncooked materials costs stays polarized, however we see slight optimistic results in our Q3 figures. Based mostly on what we see at this time going into 2025, we
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