We expect Orkla to report Q3/20 adjusted EBIT of NOK 1,478m, 2% below latest Factset consensus of NOK 1,502m. Driven by 5% NOK weakening Y/Y, we expect overall sales growth of 6%. While we expect Orkla Foods and Orkla Care to report strong results, we expect Orkla Food Ingredients to suffer from reduced demand from hotels and canteens. We increase our estimated EBITDA by 5% for 2021 and 2022, to reflect a weaker NOK and a slower Covid-19 recovery.
20 Oct 2020
Covid-19 to result in another mixed quarter
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Covid-19 to result in another mixed quarter
We expect Orkla to report Q3/20 adjusted EBIT of NOK 1,478m, 2% below latest Factset consensus of NOK 1,502m. Driven by 5% NOK weakening Y/Y, we expect overall sales growth of 6%. While we expect Orkla Foods and Orkla Care to report strong results, we expect Orkla Food Ingredients to suffer from reduced demand from hotels and canteens. We increase our estimated EBITDA by 5% for 2021 and 2022, to reflect a weaker NOK and a slower Covid-19 recovery.