30 October 2024
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Global Industry

AAK: announces Interim report for Q3-2024

Malmo / SE. (aak) Swedish AAK Group (former AarhusKarlshamn AB) announced its financial results for the third quarter 2024 – characterized by volume growth across all three business areas and improved group profitability. President and CEO Johan Westman: «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.»

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.

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