RIEBER & SON ASA 
By Rieber & Søn reported an improved EBITDA margin, but a negative operating profit driven by one-off items during today's fourth quarter presentation.
Revenue declined by 2.0% and ended at NOK 1,088m. For the year as a whole revenue equalled NOK 4,164m (4,293m in 2011). EBITDA ended at NOK 140m (111m) in the quarter and NOK 435m (464m) for the year. Operating profit in the quarter equalled NOK -90m (66m) and at NOK 47m (266m) for the year as a whole. The operating profit was negatively impacted by one-off items of NOK -180m in the fourth quarter and NOK -198m for the year. These items are primarily related to the loss on the sale of Cronions in the fourth quarter, costs related down-sizing within sales & administration in Western Europe, as well as costs related to the process with Orkla.
- The underlying trend in performance in the Group is positive. The good work in Norway to reverse the trend we saw in our core categories in 2011 continues, and we also launched a number of new products in new conservation forms. The market situation in other parts of the Group is more demanding, but I also want to credit the good work in other business units. Among other, I refer to the turn-around in Poland which is well on its way, and Russia which achieved both sales and profit growth, says CEO Frank Mohn.
Orkla's acquisition of Rieber & Søn ASA is expected to be approved by all relevant competition authorities (EU, Norway and Russia) in the near future.
Key Figures: Fourth Quarter 2012 (2011):
Sales: NOK 1 088m (1 110m)
EBITDA: NOK 140m ( 111m)
Operating profit: NOK -90m ( 66m)
EBIT-margin: -8,3% (6,0%)
ROCE: -13,3% (9,2%)
Key Figures 2012 (2011):
Sales: NOK 4 164m (4 293m)
EBITDA: NOK 435m ( 464m)
Operating profit: NOK 47m ( 266m)
EBIT-margin: 1,1% (6,2%)
ROCE: 1,9% (9,5%)
Links
- 4Q Presentasjon 2012
- 4. Kvartal 2012 ENG
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