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.
Contacts
Carl Ahlgren
Head of IR, Communication & Brand
Mobile: +46 706 81 07 34
E-mail: carl.ahlgren@aak.com
About AAK
Everything AAK does is about Making Better Happen. We specialize in plant-based oils that are the value-adding ingredients in the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offering is Customer Co-Development, combining our desire to understand what better means for each customer with the unique flexibility of our production assets and deep knowledge across products and industries. 4,100 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers and support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.
This information is information that AAK is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-18 08:30 CEST.
