Orkla reported Q1/20 adjusted EBIT of NOK 1,143m, in line with Infront consensus of NOK 1,150m. This was not enough to prevent the share from slipping 6% on a cautious outlook for Q2/20. While Orkla Foods and Orkla Care benefitted from stockpiling in March, Orkla Food Ingredients and restaurants suffered from government restrictions. While demand for foods and household products have normalised in April, “out-of-home” activity was down significantly Y/Y.
