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AAK – Again a record high operating profit

  • Again a record high operating profit of SEK 331 million (313), excluding acquisition related costs and non-recurring items, was reached for the third quarter. This was an improvement of 6 percent compared to the corresponding quarter in 2013.
  • Operating profit, including acquisition related costs and non-recurring items, reached SEK 344 million (303), an improvement of 14 percent compared to the corresponding quarter in 2013.
  • Total volumes increased by 6 percent.
  • Food Ingredients was, despite some anticipated headwind and a very strong third quarter 2013, stable with an operating profit of SEK 211 million (211).
  • Chocolate & Confectionery Fats improved its operating profit significantly, by 19 percent, and reported SEK 125 million (105).
  • The operating profit for Technical Products & Feed remained stable at SEK 24 million (24).
  • Earnings per share increased by 10 percent, from SEK 4.86 to SEK 5.36.
  • Return on Capital Employed (ROCE), calculated on a rolling 12 months basis, was 16.5 percent (16.4 percent at December 31, 2013).
  • During the third quarter, two acquisitions have been made; CSM Benelux NV in Merksem, Belgium and FANAGRA in Colombia.
  • On September 5, 2014, AAK announced that it will construct a speciality and semi-speciality edible oils factory in China.

“Based on AAK’s customer value propositions for health and reduced costs, and our customer product co-development and solutions approach, we continue to remain prudently optimistic about the future. The main drivers are the continued positive underlying development in Food Ingredients and the continued improvement in Chocolate & Confectionery Fats”, said Arne Frank, CEO and President.

For further information, please contact:

Fredrik Nilsson                          Anders Byström
CFO                                         Director External Accounting & Investor Relations
Phone: + 46 40 627 83 34          Phone: +46 40 627 83 32
Mobile: + 46 708 95 22 21          Mobile: +46 709 88 56 13

  
The information is that which AAK AB (publ) is obliged to publish under the provisions of the Stock Exchange and Clearing Operations Act and/or the Trading in Financial Instruments Act. The information was released to the media for publication on October 29, 2014 at 08:15 a.m. CET.

 
AAK is one of the world’s leading producers of high value-added speciality vegetable oils and fats solutions. These oils and fats solutions are characterized by a high level of technological content and innovation. AAK`s solutions are used as substitute for butter-fat and cocoa butter, trans-free and
low saturated solutions but also addressing other needs of our customers. AAK has production facilities in Belgium, Colombia, Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay and the US. Further AAK has also toll manufacturing operations in Russia and Malaysia. The company is organized in three Business Areas; Food Ingredients, Chocolate and Confectionery Fats and Technical Products & Feed. AAK’s shares are traded on the NASDAQ OMX, Stockholm, within the Large Cap segment. Further information on AAK can be found on the company’s website www.aak.com.



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