News

AAK reports another record high

2 Nov 2015

Swedish oils company AAK has again reported that a record high operating profit was achieved, reaching SEK376 million, an improvement of 14%, citing strength in its chocolate and confectionery fats business.

Swedish oils company AAK has again reported that a record high operating profit was achieved, reaching SEK376 million, an improvement of 14%. Of this, currency impact was a positive SEK27 million. Operating profit at fixed foreign exchange rates, and adjusted for last year’s divestment of Binol and non-recurring items, improved by 7%. Volumes increased by 2%. Organic volume growth was also 2%.

Food Ingredients accounted for SEK230 million (211), an improvement of 9%, while Chocolate & Confectionery Fats improved by 33% and reached SEK166 million (125).

Earnings per share increased by 12%, to SEK 6.03 (5.36).

“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”, said Arne Frank, CEO and President, AAK Group. “The main drivers are the continued positive underlying development in Food Ingredients and the continued improvement in Chocolate & Confectionery Fats.”