Solid performance driven by volume growth and improved profitability
Johan Westman, President and CEO: “Following a strong first quarter, we are pleased to continue progressing towards our 2030 aspiration in the second quarter. We delivered year-over-year volume growth and maintained an operating profit per kilo above two SEK. This resulted in a 27 percent increase in operating profit, following a 41 percent growth in the same period last year.”
AAK Group
- Volumes increased by 4 percent to 525,000 MT (505,000), driven by Chocolate & Confectionery Fats and Food Ingredients.
- Operating profit increased by 27 percent, reaching SEK 1,118 million (880), including a positive currency translation effect of SEK 9 million. At fixed foreign exchange rates, operating profit increased by 26 percent.
- Profit for the period totaled SEK 809 million (615).
- Earnings per share equaled SEK 3.11 (2.36).
- Cash flow from operating activities amounted to SEK 1,002 million (1,645).
- Return on Capital Employed (ROCE), R12M, was 21.5 percent (19.1 percent on December 31, 2023).
Business areas
- Food ingredients operating profit increased by 19 percent to SEK 755 million (636).
- Chocolate & Confectionery Fats operating profit reached SEK 433 million (275), an increase of 57 percent compared to the same quarter last year.
- Technical Products & Feed operating profit totaled SEK 9 million (44), an 80 percent decrease compared to last year.
Conference call
The Interim report for the second quarter 2024 will be presented today, July 18, 2024 at 10 a.m. CET. For participation, please see instructions under the investor tab on the AAK website, www.aak.com.