AAK Interim Report Quarter 3, 2011
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.