EL7.AI
StocksMedium•6 November 2026•
3 min read

Orkla Posts 3.1% Organic Revenue Growth in Third Quarter, Beating Expectations

Key Facts

1Organic revenue at Orkla’s consolidated portfolio companies grew 3.1% in the third quarter, compared with expectations of 2.2%.
2Volume and mix added 2.7 percentage points to growth, compared with 0.4 percentage points from pricing.
3Organic sales growth at Snacks was 5.6%, compared with expectations of 1.5%.
4Adjusted earnings per share rose to 1.94 kroner, up 4.9% year over year.

Norwegian company Orkla reported on November 6 that organic revenue for its portfolio companies grew 3.1% in the third quarter of 2026, exceeding analysts’ expectations of 2.2%, according to Investing.com. The result was driven mainly by volume and mix, which added 2.7 percentage points to growth, compared with 0.4 percentage points from pricing. The company said progress was broad-based and that most of its portfolio companies contributed. But the figures showed differences across its segments, with food ingredients below expectations and stronger growth in snacks and European foods. Adjusted earnings per share also rose, while the company said the strength of the Norwegian krone affected group earnings.

Orkla Foods Europe recorded organic revenue growth of 2.4%, compared with expectations of 0.8%, and volume and mix in the segment rose 1.5%, according to Investing.com. The company said volume growth was broad-based, with notable performance in Sweden. By contrast, organic revenue at Food Ingredients increased 0.7%, below analysts’ expectations of 3.0%. Volume and mix in the segment rose 1.1%, but pricing fell 0.5%. This divergence put European foods growth above estimates, while food ingredients faced pricing pressure and relatively weak revenue momentum.

The Snacks segment was among the strongest contributors to growth, with organic sales up 5.6%, beating expectations of 1.5%, according to Investing.com. The expansion came despite a 5.6% decline in pricing. The company said volumes increased across confectionery, snacks and biscuits. In India, Orkla’s operations grew 19% as pricing accelerated to 15%. But margins in the Indian operations fell 160 basis points during the quarter. The Home & Personal Care segment recorded growth of 10.4%, with volume up 10%, highlighting continued strength in demand by volume in the business alongside India’s pricing-driven growth.

Adjusted earnings per share rose to 1.94 kroner in the quarter, up 4.9% from the same period a year earlier, according to Orkla’s statement. The company attributed the increase to growth in adjusted operating profit at its portfolio companies and share buybacks. The company said the strength of the Norwegian krone affected group earnings, while underlying adjusted operating profit at its portfolio companies grew. The CEO said the company had achieved growth in underlying adjusted operating profit in every quarter of the strategy period. This provides a complementary operating indicator to revenue growth, amid differing sales trends across segments during the quarter.

Orkla set December 1 for its Capital Markets Day, where it will present its new targets and ambitions through 2030, according to the company’s statement. The CEO said: "We will present new targets and ambitions through 2030." The date follows the third-quarter results, as portfolio units posted a mix of strong growth in some businesses and results below expectations in others. The new targets will be the company’s next announcement of its long-term direction. The statement did not provide details of those targets ahead of the Capital Markets Day.