Sales in the third quarter came to NOK 1 033m (1 077), a decline of 4.1%, while organic growth was 2.2% down on last year's third quarter.  Sales were marginally affected by structural effects, but fell by 2.0% due to currency conversion effects.

The gross margin in the third quarter was 58.3% (59.1) while the EBITDA margin was 14.2% (16.2) and the EBIT margin was 9.5% (11.8).  Because of lower earnings, the return on capital employed (ROCE) was reduced and stood at 14.0% (17.4) for the third quarter.

The Rieber family has in the third quarter entered into an agreement with Orkla ASA to sell its shares in Rieber & Søn ASA. The agreement encompasses 90.11% of the shares in Rieber & Søn ASA for a price of NOK 66.58 per share. Closing of the transaction is conditional upon receiving approval from the European Commission and Russian competition­ authorities. It is expected that closing of the transaction can take place by the end of the first quarter of 2013.  It is the view of the Board that a combination of Rieber & Søn and Orkla creates a sound industrial platform.


Bergen, 24 October 2012
The Board of Directors of Rieber & Søn ASA

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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