Vegetable oils and fats producer AAK from Malmö/Sweden has released an interim report outlining strong second-quarter growth, with its Food Ingredients segment as the main driver, underscoring the strategic launch of its plant-based portfolio. The report closely follows two launches: AkoPlanet, a portfolio of tailor-made solutions for plant-based dairy, ice cream and meat alternatives; and Cobao Pure, an innovative chocolate solution marketed as delivering significantly improved bloom-retarding effects and shelf-life extension.
The company’s organic volume growth is reported at 3 % for Q2 of 2019, where its Chocolate & Confectionery Fats segment enjoyed the strongest growth at an increase of 15 %. Operating profit, which includes a positive currency translation impact of USD 2 m, reached USD 55.1 m, an improvement of 14 %. Total volumes for this quarter reached 565,000 t. Cash flow from operating activities this quarter amounted to USD 43 m. Net result reached USD 38.55 m, an improvement of 17 %. The company will continue to further its product development in the space of on-trend plant-based alternatives.
Early this year, the company acquired Dutch company MaasRefinery B.V., which also specializes in toll refining of vegetable oils and fats for the food industry. The acquisition increased AAK’s capacity and supported existing production facilities, as well as enabling continued growth.