– Compared with our multinational competitors, we are less exposed, says CEO Peter Ruzicka Orkla TDN Finans.
Orkla Brands Russia, which was sold in December 2014, affected Group earnings negatively for the quarter with 522 million, partly because of writedowns and losses.
-In Russia, we have struggled for many years. It has been a tough competitive situation, and we have not had the national strong enough brands, says Ruzicka who reject the sale has something with the conflict between the EU and Russia to do.
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