AAK Ab Continue Strong Profit Improvements Driven By Food Ingredients Coupled With Very Strong Operational Cash Flow
08 Nov 2012 --- Aarhuskarlshamn Ab are continuing to show profit improvements utilising lower raw material prices and generating continued strong cashflow.
• Volume increased by 5 percent compared to the third quarter 20, mainly due to acquisitions.
• Sales amounted to SEK 4,277 million (EUR499 million) (4,462), significantly influenced by lower raw material prices.
• Operating profit was record high for a third quarter at SEK 273 million (EUR31.89 million) (246), an improvement of percent.
• The largest business area Food Ingredients reached a record high third quarter operating profit of SEK 90 million (EUR10.5 million)(43), an improvement of 33 percent.
• Chocolate & Confectionery Fats reported an operating profit of SEK 88 million (2).
• Technical Products & Feed improved operating profit to SEK 22 million (5).
• The company continued to generate very strong cash flow amounting to SEK 364 million (89), including improved working capital of SEK 4 million (negative 68).
• Earnings per share increased by 7 percent, from SEK 3.48 to SEK 4.08.
• The Interim report also contains an update on the consequences for AAK from Hurricane Sandy.
The CEO President Arne Frank commented “The impact on our industry from the more difficult general economy in Europe is difficult to predict. However, based on AAK’s customer value propositions for health and reduced costs, our customer product co-development and solutions approach, and the AAK Acceleration program, we continue to remain prudently optimistic for the future, mainly driven by a very strong Food Ingredients business”,
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