AAK Summarised Financial Statement, 2008

The Group CEO comments

“The Group result for 2008 ended at SEK 851 million (653). Increased volumes and margins for Chocolate and Confectionery Fats and Food Ingredients, and positive developments in the most recent acquisitions within Food Ingredients are the main contributors to this improvement,” says Group CEO Jerker Hartwall in his comments to the report.

Fourth quarter 2008
• Net sales were up 28 percent, SEK 4,764 million (3,709).
• Operating profit, was up 19 percent, SEK 212 million (178), of which insurance compensation received of SEK 41 million has been recognised as income during the fourth quarter related to the December 2007 incident in Aarhus, Denmark.
• Earnings per share was SEK 4.54 (2.03), including the IAS adjustment and non recurring items earnings per share was SEK -1.58 (4.04)

Full year
• Net sales were up 32 percent, SEK 17,207 million (13,005).
• Operating profit, was up 30 percent to SEK 851 million (653) including received insurance compensation of SEK 304 million. Included in the SEK 851 million above, is SEK 47 million related to the December 2007 insurance claim which was recognised as income during the first quarter. This amount (SEK 47 million) is non recurring.
• Earnings per share was SEK 10.80 (8.53), including the IAS 39 adjustment and non recurring items earnings per share was SEK 0.04 (7.67)
• Proposed dividend of SEK 4.00 (4.00) per share

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