AAK Annual Report 2020

AAK Annual Report 2020 22 500 400 300 200 100 0 2016 2017 2018 2019 2020 Volumes (20% of Group total) (Thousand tons) 430 459 449 404 367 Operating profit (37% of Group total) (SEK million) 2016 2017 2018 2019 2020 1,000 800 600 400 200 0 747 794 865 735 664 Operating profit per kilo (SEK) 2016 2017 2018 2019 2020 2.00 1.50 1.00 0.50 0.00 1.74 1.82 1.81 1.73 1.93 Chocolate & Confectionery Fats primarily serves customers in the chocolate confectionery and caramel, toffee and nougat segments. The business area also includes Personal Care and Natural Emulsi­ fiers. Due to the pandemic, volumes reduced in the second quarter during Easter, driven by destocking from some customers. However, there was strong sequential improvement in the third and fourth quarters. For the full 2020, the business area reported a record-high operating profit due to implemented supply chain improvements, increased production capacity in Denmark, and better-yielding shea kernels from the harvest 2019/2020. Continued growth and improved margins Business area Chocolate & Confectionery Fats 2016 2017 2018 2019 2020 Volumes, thousand tons 367 404 430 459 449 Net sales, SEK million 6,117 7,354 7,611 8,076 7,949 Operating profit, SEK million 664 735 747 794 865 Operating profit per kilo, SEK 1.81 1.82 1.74 1.73 1.93 All figures are excluding items affecting comparability.