Volume growth across all three business areas and improved group profitability
Johan Westman, President and CEO: "Following a strong first half, I am pleased to report continued momentum in the third quarter, delivering strong results despite tougher comparisons. We achieved year-over-year volume growth across all three business areas and sustained an operating profit per kilo above SEK 2, reaching one out of three pillars in our 2030 aspiration ahead of schedule. In light of this performance, we will be presenting a strategic update at the upcoming Capital Markets Day on November 26 in Karlshamn, Sweden."
AAK Group
- Volumes increased by 4 percent to 551,000 MT (529,000), with all three business areas contributing.
- Operating profit increased by 10 percent, reaching SEK 1,256 million (1,143), including a negative currency translation effect of SEK 95 million. At fixed foreign exchange rates, operating profit increased by 18 percent.
- Profit for the period totaled SEK 871 million (807).
- Earnings per share equaled SEK 3.35 (3.10).
- Cash flow from operating activities amounted to SEK 515 million (1,214).
- Return on Capital Employed (ROCE), R12M, was 22.1 percent (19.1 percent on December 31, 2023).
Business areas
- Food ingredients operating profit increased by 4 percent to SEK 770 million (739).
- Chocolate & Confectionery Fats operating profit reached SEK 525 million (438), an increase of 20 percent compared to the same quarter last year.
- Technical Products & Feed operating profit totaled SEK 45 million (47), a 4 percent decrease compared to last year.
Conference call
The Interim report for the third quarter 2024 will be presented today, October 24, 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. 4,200 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. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-24 08:30 CEST.
