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2016-02-03

AAK: AAK's Interim report for the fourth quarter and Year-end report 2015 - a new record high operating profit

· Again, a record high operating profit, excluding acquisition costs
of SEK 15 million, of SEK 388 million (343 excluding net positive,
non-recurring items of SEK 16 million) was achieved, an improvement
of 13 percent.

· Volumes increased by 6 percent. Organic volume growth was 1
percent.

· Food Ingredients improved by 17 percent, to SEK 257 million (220).
The picture between the segments was, however, very variable. Food
Ingredients continued to grow organically and reported a 2 percent
volume increase.

- The Dairy segment reported double-digit organic volume growth.
- Infant Nutrition product range Akonino® continued to show good
organic volume growth.

- Our InFat® business through Advanced Lipids AB, a joint venture of
AAK and Enzymotec, continued the organic growth trend from the last
two quarters.

- The Bakery segment had a challenging quarter, particularly in
Europe. Other regions, such as the US, continued to show good organic
volume growth.

- Food Service reported low organic volume growth.
- Commodity products showed again organic volume growth.
· Chocolate & Confectionery Fats improved by 5 percent and reached
SEK 135 million (128).

- The business area was again negatively influenced by the
deteriorating market conditions in Russia.

- After 24 months of deteriorating market conditions, Ukraine has
during the fourth quarter stabilized at a low level.

· Technical Products & Feed improved its operating profit by 28
percent and reached SEK 32 million (25). This was due to a positive
development of the fatty acids business.

· Earnings per share decreased by 21 percent, to SEK 5.65 (7.12).
This was due to an exceptional low tax cost related to non-recurring
items in the fourth quarter, 2014.

· Calculated on a rolling 12 months basis, Return on Capital
Employed (ROCE) was 15.7 percent (16.0 percent at December 31, 2014).

· Proposed dividend of SEK 7.75 (6.75), an increase by SEK 1.00 or
15 percent.

· AAK has during the quarter established a partnership with Miyoshi
Oils & Fats Co. by forming a new company together for the Japanese
market, AAK Miyoshi JP. AAK will own 70 percent of the new company
and Miyoshi Oils & Fats Co. will own 30 percent.

· In November, AAK entered a management agreement with the trustee
in the bankruptcy of TLC and Belovo - both part of the BNLfood Group
- to restart the operations of TLC, an ingredient supplier to the
global nutrition market, located in Bastogne, Belgium.

· In December, TROPICAO™, the company's revolutionary chocolate
solution, and Akopastry HP, AAK's latest innovation within the Bakery
segment, were recognized with innovation awards at Food ingredients
Europe Innovation Awards in Paris.

Concluding remarks:
"Based on AAK's customer value propositions for health and reduced
costs, and our customer product co-development and solutions
approach, we continue to remain prudently optimistic about the
future", says Arne Frank, CEO and President, AAK Group. "The main
drivers are the continued positive underlying development in Food
Ingredients and the continued improvement in Chocolate &
Confectionery Fats."

The Interim report for the fourth quarter and the Year-end report 2015
will be presented today, February 3, 2016 at 1 p.m. CET at a Press &
Analyst telephone conference. For participation, please see
instructions under the Investor tab at the AAK website, www.aak.com.

For further information, please contact:
Fredrik Nilsson
CFO
Phone: +46 40 627 83 34
Mobile: +46 708 95 22 21

The information is that which AAK AB (publ.) is obliged to publish
under the provisions of the Stock Exchange and Clearing Operations
Act and/or the Trading in Financial Instruments Act. The information
was released to the media for publication on February 3, 2016 at
08:50 a.m. CET.

AAK is a leading provider of value-adding vegetable oils & fats. Our
expertise in oils & fats within food applications, our wide range of
raw materials and our broad process capabilities enable us to develop
innovative and value-adding solutions across many industries -
Chocolate & Confectionery, Bakery, Dairy, Infant Nutrition, Food
Service, Personal Care, and more. AAK's proven expertise is based on
more than 140 years of experience within oils & fats. Our unique
co-development approach brings our customers' skills and know-how
together with our own capabilities and mindset for lasting results.
Listed on the NASDAQ OMX Stockholm and with our headquarters in
Malmö, Sweden, AAK has 19 different production facilities, sales
offices in more than 25 countries and more than 2,700 employees. We
are AAK - The Co-Development Company.

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http://news.cision.com/aak/r/aak-s-interim-report-for-the-fourth-quarter...
http://mb.cision.com/Main/871/9906816/472075.pdf
http://mb.cision.com/Public/871/9906816/93127731ec157981.pdf

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