Summarised Financial Statement, 2009

2/18/2010 2:15 AM EST

Fourth quarter 2009

• Record operating profit, up 36 percent to SEK 289 million (212).
• Cash flow generated from operating activities continued to be high at SEK 750 million (379).
• Earnings per share were SEK 3.85 (4.54); including the IAS39 adjustment and non-recurring items, earnings per share were SEK 4.53 (-1.58).
• Net sales amounted to SEK 3,788 million (4,764).
• Arne Frank has been appointed as President and CEO for AAK as from April 6, 2010.

Full year

• Operating profit reached SEK 827 million (851).
• The company recorded additional preliminary insurance compensation in the second quarter of SEK 70 million, which is not included in the operating profit of SEK 827 million.
• Strong cash flow from operating activities at SEK 2,265 million (17).
• Earnings per share were SEK 10.14 (10.80); including the IAS 39 adjustment and non-recurring items, earnings per share were SEK 20.19 (0.04).
• Net sales amounted to SEK 15,884 million (17,207).
• Proposed dividend of SEK 4.25 (4.00) per share.


The Group CEO comments
“Record operating profit was achieved in the fourth quarter for the Group, Food Ingredients and Technical Products & Feed. Chocolate & Confectionery Fats saw further improvements since the third quarter.
Fourth quarter 2009

The Group operating profit for full year 2009 ended at SEK 827 million (851). Operating profit and cash flow developed strongly despite the recession. Net debt decreased by about SEK 2 billion. The strengthened balance sheet provides the foundation for continued development and acceleration of the specialisation strategy,” says Group CEO -Jerker Hartwall in his comments to the report.