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.