Brief: AAK Q4 Operating Profit Rises To SEK 1,141 Million

AAK AB (publ)

07/02/2024 07:54

Feb 7 (Reuters) - AAK AB (publ)  AAK.ST :
    * AAK’S INTERIM REPORT FOR THE FOURTH QUARTER AND YEAR-END
REPORT
2023
    * GROWTH WAS DRIVEN BY STRONG PERFORMANCE IN FOOD
INGREDIENTS AND
CHOCOLATE & CONFECTIONERY FATS, WHILE TECHNICAL PRODUCTS & FEED
DECLINED. AT FIXED FOREIGN EXCHANGE RATES, OPERATING PROFIT
INCREASED BY 50 PERCENT.
    * VOLUMES CONTINUED TO IMPROVE SEQUENTIALLY FOR Q2 IN A ROW
BUT
DECLINED BY 4 PERCENT COMPARED TO SAME PERIOD LAST YEAR
    * YEAR-ON-YEAR DECLINE WAS MAINLY DRIVEN BY BAKERY
OPTIMIZATION
PROGRAM AND WEAK DEMAND IN FEED.
    * OPERATIONAL CASH FLOW WAS STRONG IN QUARTER, PRIMARILY
ATTRIBUTABLE TO HIGHER PROFIT.
    * PROFITABILITY SHOWED SIGNIFICANT STRENGTH, WITH OPERATING
PROFIT
PER KILO REACHING SEK 2.08 IN QUARTER
    * Q4 VOLUMES TOTALED 548,000 MT (571,000), A DECREASE OF 4
PERCENT
COMPARED TO LAST YEAR.
    * Q4 OPERATING PROFIT TOTALED SEK 1,141 MILLION (778)
    * Q4 SALES REACHED SEK 10,835 MILLION (13,317)
    * PROPOSES THAT A DIVIDEND OF SEK 3.70 (2.75) PER SHARE TO
BE PAID
FOR THE FINANCIAL YEAR 2023
    * IN THE FOURTH QUARTER, VOLUMES IN FOOD INGREDIENTS
DECLINED BY 3
PERCENT COMPARED TO THE SAME PERIOD IN THE PREVIOUS YEAR.
    * IN THE FOURTH QUARTER, CHOCOLATE & CONFECTIONERY FATS
VOLUMES
DECLINED 2 PERCENT COMPARED TO THE SAME PERIOD LAST YEAR
    * IN THE FOURTH QUARTER, TECHNICAL PRODUCTS & FEED VOLUMES
DECLINED 12 PERCENT COMPARED TO THE SAME PERIOD IN 2022, MAINLY
DRIVEN BY FEED.

Source text for Eikon:  ID:nMFN91xqNF 
Further company coverage:  AAK.ST 

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