Aak Ab · OMXSTO:AAK
Aak Ab — Q1 2024 Earnings Presentation
14 slides from Aak Ab's earnings presentation, Apr 25, 2024
Slide 1: Conference call: Interim report, Q1 2024
Conference call Interim report, Q1 2024 Johan Westman, CEO Tomas Bergendahl, CFO
Slide 2: Table of contents
Table of contents 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 Given these uncertainties, reade
Slide 4: Profitability and volume growth marks a strong start to the year
Profitability and volume growth marks a strong start to the year Highlights Q1 2024 Key financials Q1 2024 • Volumes increased 3 percent, with both Chocolate & Confectionery Fats and Food Ingredients growing. Volume Operating profit • Operating profit per kilo increased 35 percent at fixed FX, mainl
Slide 5: Selected events
Selected events Progress across global and regional sustainability ratings Bakery Innovation Centre in Antwerp, Belgium • AAK has received a silver medal in EcoVadis annual sustainability rating • On February 21, we opened a new, Innovation Centre for bakery and is among the top 15 percent globally.
Slide 6: Food Ingredients
Food Ingredients Operating profit SEK million SEK million 800 3,000 Net sales Operating profit Operating profit per 2,500 Volume SEK million SEK million kilo SEK 600 2,000 +2% +34% +31% 400 1,500 -12% 337 344 7.859 779 2,26 1,000 6.952 200 582 1,73 500 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 7: Chocolate & Confectionery Fats
Chocolate & Confectionery Fats Operating profit SEK million SEK million 600 2,000 Net sales Operating profit Operating profit per Volume SEK million SEK million kilo SEK 1,500 400 +7% -5% +54% +44% 1,000 133 3,735 3,554 505 3.80 124 200 500 327 2.64 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 8: Technical Products & Feed
Technical Products & Feed Operating profit SEK million SEK million 150 400 Net sales Operating profit Operating profit per Volume SEK million SEK million kilo SEK 300 100 -1% -19% -51% -50% 200 80 79 751 108 1.35 50 612 100 53 0.67 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 20 20 20 20 2
Slide 9: Positive cash flow driven by strong earnings – working capital impacted by higher sales
Positive cash flow driven by strong earnings – working capital impacted by higher sales Cash flow Q1 2024 Comments • Cash flow from inventory was positive affected by Inventory 245 1.466 lower inventory levels. • Cash flow from receivables was negative AR -528 following higher volumes compared to th
Slide 10: Return on Capital Employed (ROCE) increase on strong operating profit
Return on Capital Employed (ROCE) increase on strong operating profit % 21 ROCE end Q1 2024* 20 20.4 20.4% 19 18 Capital 17 EBIT LTM employed* 16 SEK 4,418 SEK 21,654 15 million million 14 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 21 21 21 21 22 22 22 22 23 23 23 23 24 ROCE R12M * ROCE: Return on Cap
Slide 11: Net debt/EBITDA reduction on strong profit growth and reduced net debt
Net debt/EBITDA reduction on strong profit growth and reduced net debt Net debt/EBITDA 2.50 2.00 1.50 1.00 0.50 0.38 0.00 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Net debt /EBITDA The Co-Development Company 11 11
Slide 12: Strong start to the year
Strong start to the year • Started the year on a promising trajectory, marked by organic volume growth and improved profitability. • We face challenges and opportunities in the markets where we operate. As a Multi-oil Ingredient House, we are committed to delivering value to our customers regardless
Slide 13: Q&A
Q&A
Slide 14: Everything we do is about Making Better Happen
Everything we do is about Making Better Happen™