AAK on track for worst day in 6 years as production disruptions weigh
BUZZ-AAK on track for worst day in 6 years as production disruptions weigh ** Shares in AAK AAK.ST fell 10% and are on track for their worst day since March 12, 2020, after the Swedish plant-based oils producer posted second-quarter results below market expectations
** AAK reported Q2 net profit of 804 million Swedish crowns ($83.30 million), with operating profit in its Food Ingredients division slumping 14% due to cautious market conditions and production-related challenges at the Karlshamn site
** SB1 Markets says in a note that the quarter was weaker than expected, with volumes, revenue, adjusted EBIT, EBIT per kilo and earnings per share all coming in below consensus
** The production issues at Karlshamn site are estimated to have reduced group volume growth by about one percentage point, the broker notes
** SB1 Markets also says consensus forecasts for adjusted EBIT in 2026 could be cut by around 3%
($1 = 9.6521 Swedish crowns)
(Reporting by Tomasz Kanik)