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AAK Interim Report Quarter 3, 2011

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Third quarter 2011                                                      

  • Net sales in the third quarter increased to SEK 4,462 million (3,774), mainly due to increased raw material prices and a better product mix, partly offset by a negative currency translation impact of SEK 246 million. Volume increased by 5 percent due to increases in speciality volumes, including the impact of the Golden Foods/Golden Brands acquisition (SEK 225 million in net sales); commodity volumes were down, mainly as earlier predicted in the UK.
  • Operating profit amounted to SEK 246 million (231), an improvement of 6 percent. At fixed exchange rates operating profit improved by 13 percent. Before acquisition related costs of SEK 7 million, operating profit amounted to SEK 253 million, an improvement of 10 percent.
  • Earnings per share amounted to SEK 3.48 (3.73), a decrease of 7 percent, due substantially to the impact of revaluing interest rate swap contracts arranged to fix forward interest rates.

First nine months 2011                                               

  • Net sales in the first nine months increased to SEK 12,212 million (10,878) mainly, due to increased raw material prices and a better product mix; offset by a negative currency translation impact of SEK 845 million. Volume overall decreased by 2 percent due to lower commodity volumes, mainly in the UK. Speciality volumes continued to increase.
  • Operating profit, excluding non-recurring items of SEK 3 million, amounted to SEK 646 million (573), an improvement of 13 percent. At fixed exchange rates operating profit improved by 21 percent. Before acquisition related costs of SEK 7 million, operating profit amounted to SEK 653 million, an improvement of 14 percent.
  • Earnings per share amounted to SEK 9.90 (9.17), an improvement of 8 percent.


 

Investor Relations contact:

Arne Frank, President and CEO
Phone: + 46 40 627 83 00

Anders Byström, Chief Financial Officer
Phone: + 46 40 627 83 00

Fredrik Nilsson, Head of Investor Relations
Phone: + 46 40 627 83 34
Mobile: + 46 708 95 22 21
E-Mail: fredrik.nilsson@aak.com

The information is that which AarhusKarlshamn AB (publ) is obliged to publish under the provisions of the Stock Exchange and Clearing Operations Act and/or the Trading in Financial Instruments Act.
The information was released to the media for publication on November 7, 2011 at 08.15 am CET.

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