AAK Reports on 2010 Performance

KARLSHAMN, SwedenAarhusKarlshamn (AAK), a producer of specialty vegetable fats, reported sales and operating results for the fourth quarter and full year 2010.

Net sales increased to SEK 3,930 million (3,788) due to increased raw material prices, and operating profit finished at SEK 251 million (289). Operating profit for the fourth quarter 2010 reached SEK 251 million (289).

The fourth quarter 2010 showed a volume growth for the two main business areas food ingredients and chocolate & confectionery fats. Food Ingredients continued to develop very well also, considering that the fourth quarter 2009 was exceptional. Chocolate & confectionery fats was slightly better than the third quarter 2010. Underlying margins in chocolate & confectionery fats were unchanged compared to the third quarter 2010," commented Arne Frank, CEO of AAK.  Operating profit for 2010 was in line with our expectations. We now have a very strong foundation for our mid- and long-term AAK Acceleration programme. The prioritized growth areas are: bakery & bakery service, dairy fat industries, chocolate & confectionery fats, infant nutrition (baby food), food service, fast-growing economies (e.g. china and brazil) and merger & acquisitions."