AAK AB Q3 Profit Climbs On Sales Growth, But Volume Down

(RTTNews) - AAK AB (ARHUF, 0A0J.IL), a Swedish plant-based oils and fats developer, on Thursday reported increased profit for the third quarter, mainly aided by 3 percent improved sales, despite weak volume.

Looking ahead, the firm said it remains optimistic about its long-term potential in delivering the aspiration of 2030.

In the third quarter, profit attributable to shareholders increased to 909 million Swedish Kronor from 869 million Swedish Kronor in the last year.

Earnings on a per-share basis climbed to 3.49 Kronor from 3.33 Kronor in the year ago.

Profit before tax increased to 1.22 billion Kronor from 1.16 billion Kronor a year ago.

Net sales increased 3 percent to 11.50 billion Kronor from 11.17 billion Kronor in the prior year primarily driven by higher raw material prices and increased sales of specialty solutions.

Net sales for the Chocolate & Confectionery Fats business area climbed 11 percent from last year to 3.90 billion kronor, and Food Ingredients net sales were nearly flat at 7.09 billion Kronor. Meanwhile, sales from Technical Products & Feed declined 10 percent to 509 million kronor.

Total Volumes, meanwhile, declined 7 percent to 510 thousand tonnes from 551 thousand tonnes last year. Volumes declined 2 percent excluding the effect of the Hillside divestment.

On the Stockholm exchange, the shares were trading 0.23% lower at 266.60 Kronor.

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