AAK Reports Record High Operating Profit
29 Oct 2014 --- 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).
Related Quotes
- 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.
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.
