AarhusKarlshamn: changes name to AAK

Stockholm / SE. (aak) AarhusKarlshamn is the world´s leading manufacturer of high value added speciality vegetable fats. These fats are used as substitutes for butterfat and cocoa butter substitutes, as transfree solutions for fillings for chocolate and confectionery products, and in the cosmetic industry. AarhusKarlshamn has production facilities in Denmark, the Netherlands, Mexico, Great Britain, Sweden, Uruguay and the United States. This month the company has changed its name to AAK.

«Almost three years ago, Aarhus United A/S and Karlshamns AB joined forces and became AarhusKarlshamn AB, making the company a market leader in the vegetable speciality fat industry. The merger proved to be a very positive move, and we will now use the name AAK that makes it easier to recognise us globally» – the company said in a statement».

In addition to the name change, AAK reported in another press release interim financial results for the first quarter of fiscal 2008:

• Net sales plus 24 percent, 3’683 million SEK (2’971 million SEK).
• The operating result excluding non recurring income and IAS 39 increased 28 percent, 207 million SEK (162 million SEK) of which received insurance compensation of 135 million SEK has been recognised as income related to lost earnings and additional costs which arose in the first quarter on account of the incident in Aarhus Denmark.
• Including IAS 39 effects of 136 million SEK, and non-recurring income by 47 million SEK, the operating result increased to 390 million SEK (164 million SEK). The 47 million SEK relates to the received insurance claim for December 2007.
• Profit after tax 229 million SEK (88 million SEK).
• Earnings per share 5,57 SEK (2,10 SEK).

In a third press release AAK reported changes of its Board of Directors: The number of directors will amount to ten. The General Meeting this month re-elected Melker Schörling, Carl Bek-Nielsen, Martin Bek-Nielsen, John Goodwin, Mikael Ekdahl, Ebbe Simonsen, Märit Beckeman, Jerker Hartwall, Anders Davidsson and Ulrik Svensson as directors. Melker Schörling was re-elected Chairman of the Board and Carl Bek-Nielsen was re-elected Deputy Chairman of the Board.