AAK records ‘historic high’ 2014 profits

By Joyeeta Basu contact

- Last updated on GMT

All business areas reported a better operating profit in 2014 than in previous years, said the company
All business areas reported a better operating profit in 2014 than in previous years, said the company

Related tags: Fat, Oil

Acquisitions have driven AAK’s operating profits to a ‘historic high’ with net sales up to SEK 17,814m (€1.9bn).

In its financial results for the year to December 2014, volumes increased 5% on the previous year as the company continued acquisitions of fats and oils businesses through the year. This included acquiring Colombian company Fabrica Nacional de Gracas​, Belgium’s CSM Benelux NV​ and Turkey’s frying oil brand  Frita​.

Operating profits, excluding non-recurring items also hit an all-time high of SEK 1242m (€134.29m) -- an improvement of 10%.

2014 has no doubt been one of the most exciting and eventful years in the history of our company. When we summarised 2013 a year ago we could see that all of our business areas ended that year on a positive note,”​ said CEO and president Arne Frank.

“That is the trend that has continued during 2014 in which our operating profit, once again, reached an all-time high, despite some important head winds.​”

Chocolate and confectionery fats specifically showed a significant increase, and despite headwinds, food ingredients - its biggest business area – also saw an increase in operating profit.

All business areas reported a better operating profit in 2014 than in previous years,​” said the Swedish-Danish oils and fats giant.

Organic growth however, fell 1% due to declining commodity volumes, lower volumes for semi-speciality products in Mexico and challenges with sales in fat in China.

Related topics: Business, Prepared foods, Fats & oils

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