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Orkla ASA (ORKLY) CEO Jaan Ivar Semlitsch on Q1 2021 Results - Earnings Call Transcript

May 01, 2021 6:40 AM ETOrkla ASA (ORKLY), ORKLF
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Orkla ASA (OTCPK:ORKLY) Q1 2021 Earnings Conference Call April 29, 2021 2:00 AM ET

Company Participants

Kari Lindtvedt - IR

Jaan Ivar Semlitsch - President and CEO

Harald Ullevoldsæter - CFO

Conference Call Participants

Kari Lindtvedt

Good morning, and welcome to this presentation of Orkla's First Quarter Results. My name is Kari Lindtvedt, I'm Head of Investor Relations at Orkla. I'm joined today by President and CEO, Jaan Ivar Semlitsch, who will sum up the main points of this quarter. Then, CFO, Harald Ullevoldsæter, will give you more details on the financials. Before moving on to Q&A, Jaan Ivar will sum up and share some reflections on the outlook. Throughout this presentation today, you're welcome to post questions on the web, and we will address them at the end of this session.

With that, I leave the floor to you, Jaan Ivar.

Jaan Ivar Semlitsch

Thank you, Kari, and good morning, and welcome to this presentation of Orkla's first quarter results, on this sunny morning, here in Oslo. Overall, I am pleased that we delivered organic growth and margin improvement in Q1, on the back of a strong quarter last year. The coronavirus pandemic still, of course, has significant impact on our operations. Number of infected employees at Orkla since the pandemic broke out is 1,975, but most of our employees are back to work. Therefore, we have, during the whole pandemic, delivered a service level of 95%, in many ways best practice as I see it. All our 112 factories have been running during the pandemic with some very short-term exceptions.

Right now, the situation in Indian and Sweden is worrying. These countries have high infection rates. Our operations in these countries are running according to plan, but we follow the situation carefully. It is very special times, but I am slightly more optimistic about

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