Aak Ab · OMXSTO:AAK
Aak Ab — Q3 2025 Earnings Presentation
16 slides from Aak Ab's earnings presentation, Oct 23, 2025
Slide 1: Conference Call – Interim report, Q3 2025
Conference Call Interim report, Q3 2025 1
Slide 2: Table of content
Table of content 1. Quarterly highlights 2. Selected events 3. Business & financial update 4. Concluding remarks 5. Q&A 2
Slide 3: Forward-looking statements
Forward-looking statements This presentation includes forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described herein. This presentation contains several forward-looking statements inclu
Slide 4: Continued profitability gains, with actions underway to strengthen volumes
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Continued profitability gains, with actions underway to strengthen volumes Highlights Q3 2025 Key financials Q3 2025 • Strong operating profit growth: +9% at fixed FX and excluding the Hillside divestment
Slide 5: Selected events
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Selected events Tragic incident at AAK strengthens Update on shea Celebrating 20 years Louisville plant supply of specialty sourcing and of AAK palm fractions West African through joint export restriction
Slide 6: Food Ingredients
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Food Ingredients Operating profit SEK million SEK million 800 4,000 Volume Net sales Operating profit Operating profit ‘000 MT SEK million per kilo SEK SEK million 600 3,000 0% +7% +3% +3% 400 2,000 320 3
Slide 7: Chocolate & Confectionary Fats
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Chocolate & Confectionary Fats Operating profit SEK million SEK million 600 2,500 Volume Net sales Operating profit Operating profit ‘000 MT SEK million per kilo SEK SEK million 2,000 400 +11% +9% 0% 1,50
Slide 8: Technical Products & Feed
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Technical Products & Feed Operating profit SEK million SEK million 150 400 Volume Net sales Operating profit Operating profit ‘000 MT SEK million per kilo SEK SEK million 300 100 -1% +5% +2% -10% 200 70 6
Slide 9: Strong currency headwind in the third quarter mainly coming from US dollar, Turkish lira and Mexican peso
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Strong currency headwind in the third quarter mainly coming from US dollar, Turkish lira and Mexican peso Q1-Q3, 2025 Q3, 2025 SEK 251 million FX headwind mainly due to weaker Mexican peso SEK 85 million
Slide 10: Strong free cash flow even with elevated inventory levels and seasonal sourcing
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Strong free cash flow even with elevated inventory levels and seasonal sourcing Cash flow Q3 2025 Comments 1.511 259 Other • Cash flow from inventory is negative driven by higher inventory levels due to -
Slide 11: Return on Capital Employed (ROCE) remains stable
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Return on Capital Employed (ROCE) remains stable % ROCE end Q3 2025* 24 22 21.6 21,6% 20 18 16 14 EBIT LTM Capital 12 employed* 10 SEK 4,951 SEK 22,898 8 million 6 million 4 2 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 12: Continued strong balance sheet
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Continued strong balance sheet Net debt/EBITDA* Net debt/EBITDA 2.00 1.50 1.00 0.61 0.50 0.00 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 22 22 23 23 23 23 24 24 24 24 25 25 25 * EBITDA calculated on rolling 1
Slide 13: Activities to drive profitable volume growth
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Activities to drive profitable volume growth • Will not compromise our margin discipline or our position as a leading Innovation to improve production supplier of advanced specialty ingredients. efficienc
Slide 14: Continued profitability gains, with actions underway to strengthen volumes
Quarterly highlights | Selected events | Business & financial update | Concluding remarks | Q&A Continued profitability gains, with actions underway to strengthen volumes • Operating profit increased by 9% at fixed exchange rates and excluding the Hillside divestment. • Volumes increased sequentiall
Slide 15: Q&A
Q&A 15
Slide 16: Making Better Happen
Everything we do is about Making Better HappenTM 16