Orkla ASA: Sapa (joint venture) - Broad-based prof

·           Growth in underlying EBIT for all business areas ·           Positive effects from value add strategy ·           Improved cost position and lower overhead costs 

Group performance Sapa further improved its underlying EBIT in the first quarter of 2017, compared to the same period last year, ending the quarter at NOK 778 million. The increase was driven by a higher share of value add business and internal improvements for all business areas, as well as higher volumes in Europe. All business areas improved their underlying EBIT.

Net interest bearing debt at the end of the first quarter amounted to NOK 0.3 billion.

Market development In North America, total demand for extruded products increased by 1.7 percent ¹ compared to the same quarter last year. The increase was driven by stronger automotive demand and higher building and construction activities whereas demand from commercial transportation was declining.

In Europe, total demand for extruded products increased by 1.8 percent ¹ compared to the same quarter last year. Europe experienced stronger automotive and transportation demand, as well as an improved building and construction market.

Key Figures - Sapa (100%)

Orkla ASA Oslo, 28 April 2017

[1] Source: CRU data

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Senior Vice President Investor Relations Mattias Orrenius Tel.: +47 983 66 334 Email: mattias.orrenius@orkla.no This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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