AAK Annual Report 2019

41 Contents Comments by Georg Brunstam, Chairman of the Board........................................... 42 Directors’ Report........................................................................................................ 43 Board of Directors...................................................................................................... 48 Executive Committee................................................................................................. 50 The AAK share........................................................................................................... 52 Reasons to invest in AAK........................................................................................... 54 Comments by Fredrik Nilsson, Chief Financial Officer. ............................................. 55 Consolidated Income Statement................................................................................ 56 Consolidated Statement of Comprehensive Income.................................................. 57 Consolidated Balance Sheet...................................................................................... 58 Consolidated Changes in Shareholders’ Equity......................................................... 60 Consolidated Cash Flow Statement........................................................................... 61 Income Statement – Parent Company....................................................................... 62 Statement of Comprehensive Income – Parent Company......................................... 63 Balance Sheet – Parent Company............................................................................. 64 Changes in Shareholders’ Equity – Parent Company................................................ 66 Cash Flow Statement – Parent Company.................................................................. 67 Notes.......................................................................................................................... 68 Alternative Performance Measures............................................................................ 109 Corporate Governance Report................................................................................... 111 Auditor’s report........................................................................................................... 121 Financial calendar and Annual General Meeting....................................................... 126 Alternative performance measures (APM) and other financial definitions................. 127 All amounts are denominated in SEK million unless otherwise stated. Chairman of the Board, p. 42 The AAK share, p. 52 Corporate Governance Report, p. 111

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