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AAK Interim Report, Third Quarter, 2009

Third quarter 2009 • Net sales at SEK 3,828 million (4,693). • Operating profit at SEK 235 million (261). • Earnings per share at SEK 2.77 (2.46). Including the IAS 39 adjustment and non-recurring items, earnings per share was SEK 6.37 (negative 6.03). • Record high quarterly cash flow from operating activities before investments amounted to SEK 858 million (-48). Nine months 2009 • Net sales at SEK 12,096 million (12,443). • Operating profit at SEK 538 million (639). • The company has recorded additional preliminary insurance compensation in the second quarter of SEK 70 million, which is not included in the operating profit of SEK 538 million. This insurance compensation relates to business interruption in both 2008 and 2009. • Earnings per share at SEK 6.30 (6.48). Including the IAS 39 adjustment and non-recurring items, earnings per share was SEK 15.66 (1.61). • Strong cash flow from operating activities before investments amounted to SEK 1,515 million (-362). The Group CEO comments “Record high positive cash flow in the third quarter materialised as expected and has further strengthened the balance sheet. Food Ingredients continued to improve in operating profit – in this quarter by 19 percent. Chocolate & Confectionery Fats continued to be negatively affected by lower chocolate consumption following the recession. The third quarter result confirmed chocolate seasonality improvements compared to second quarter. Technical Products & Feed has improved profitability”, says Group CEO Jerker Hartwall in his comments to the report.



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