Rieber & Søn recorded a first quarter operating profit (EBIT) of NOK 31m (45).
EPS totalled NOK 0.24 (0.35).
Sales in the first quarter increased by 3.1% to NOK 1 058m (1 026), while
organic growth stood at 3.8%. Structural effects increased sales by 1.3%, while
currency conversion reduced sales by 2%.
The gross margin in the first quarter was 59.3% (59.6). The EBITDA margin was
9.1% (9.1), while the EBIT margin was 2.9% (4.4). The return on capital employed
(ROCE) in the first quarter was 5.5% (6.8).
The Group's improvement programme, "Our Future", came to a close in 2011, and
looking ahead the focus will be on growth and efficiency as prioritised value
The Group will have a more aggressive launching programme with products and
concepts stretching beyond the traditional core areas. Work is also being done
with a more long-term perspective aimed at strengthening our innovative capacity
and shortening the lead time from concept to launch. Rieber & Søn will be
developing its categories and at the same time focusing on new concepts and
preservation methods. As part of this process, an agreement was entered into to
acquire Saritas in the first quarter, as well as United Pancakes in the second
Reducing the cost base will continue to be a priority. Cost-side adjustments and
action to improve efficiency will apply to the business units and to the Group
functions. New areas have been identified where synergies can be achieved and
Bergen, 25 April 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)