Malmo / SE. (aak) Swedish AarhusKarlshamn AB (AAK) announced its results for the second quarter 2014 (01 April to 3o June). «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. The main drivers are the continued positive underlying development in Food Ingredients and the continued improvement in Chocolate + Confectionery Fats», said Chief Executive and President Arne Frank in a statement. Q2/2014 Highlights:
- A record high operating profit excluding acquisition related costs for a second quarter which reached 281 million SEK (244), an improvement of 15 percent compared to the corresponding quarter in 2013.
- Operating profit, including acquisition related costs amounting to nine million SEK, reached 272 million SEK (244), an improvement of eleven percent compared to the corresponding quarter in 2013.
- Volumes increased by two percent.
- Food Ingredients reached an operating profit of 198 million SEK (184), an improvement of eight percent.
- Chocolate + Confectionery Fats – improved operating profit by 40 percent and reported 91 million SEK (65).
- Technical Products + Feed – improved operating profit by four percent and reported 24 million SEK (23).
- Earnings per share increased by eleven percent, from 3,74 SEK to 4,14 SEK.
- Return on Capital Employed (ROCE), calculated on a rolling twelve months basis, was 16,8 percent (16,4 at December 31, 2013).
- On April 09, 2014 AAK announced the acquisition of the oils and fats business of CSM Benelux NV in Merksem, Belgium. The transaction was completed on July 01, 2014.
- On July 10, 2014 AAK announced the acquisition of Fanagra in Colombia, a company specializing in vegetable oils + fats for the bakery segment.
- AAK has signed new committed credit facilities totalling approximately 5’100 million SEK. The company has committed credit facilities of approximately 5’600 million SEK.
