Anne Mette Olesen CMO Chocolate & Confectionery Fats
Market in scope Chocolate USD billion 1 0 7 MT million 7 .5 Fat content 3 0 % Confectionery* CAGR 2013-16 2 .4 % USD billion 1 1 6 MT million 8 .6 Caramel and toffee CAGR 2013-2016 2 .4 % USD billion 9 MT million 1 .1 Fat content 1 0 % CAGR 2013-16 2 .5 % Increasing consumption of chocolate Global obesity concern High cocoa butter prices High growth rates in hot climate markets Premiumisation Sustainability Focus on pockets of higher growth * Market in scope 2 Source: Euromonitor
Key players by value AAK has a strong 16% Mars position with all 15% Mondelēz major players in the chocolate 13% Nestlé industry 7% Hershey’s 7% Ferrero 3% Lindt 61% The big six Large 9% regional 30% Other 3 Source: Euromonitor
Meeting our customers’ needs Custom er driven solutions I ndustry driven solutions Customer service 4
Our value proposition - more than cost efficiency… 10,000 9,000 8,000 7,000 6,000 USD/ ton 5,000 4,000 3,000 2,000 1,000 0 For information regarding cocoa and cocoa butter please see www.icco.org 5
Our value proposition I Enabling our customers to differentiate through creating innovative new chocolate products Overall Air/ light Health Soft Sustainability Nuts Migration Gloss Crunch 6
Customer driven solutions - Partner from idea to launch I nnovation m eetings Provide inspiration Idea generation – prioritisation Conceptualisation Laboratory work Demo samples Upscaling Laboratory to large scale production Support on challenges Launch Prepare and execute launch Support on challenges 7
Our value proposition II Optimise the production of existing chocolate products Quality • Blooming challenges Production • Improve efficiency in processing Cost • Need to improve profitability of brand • Recipe optimisation 8
Industry driven solutions - Our development process I dentifying m arket needs Share inspiration Idea generation Solution profile Functionality, application, markets Potential Developing solution Laboratory work Pilot plant trials Launch Laboratory to large scale production Launch plan 9
Industry driven pipeline - Continuously manage and build ILLUSTRATIVE 3 4 1 2 5 I dea Exploration Concept Develop Test Launch 10
New industry solutions CHOCOFI LL TM NH 1 1 0 • For steep melting non-hydrogenated fillings without tempering • Nominated for Confectionery Innovation of the year at FIE DeliAir NH • Non-hydrogenated filling fat I LLEXAO TM MT 2 0 • Significantly improved milk fat tolerance CEBES TM EG • Coating fat for extreme gloss 11
Customer service AAK Academy TM is a strong way to show our customers our capabilities and the possibilities related to speciality oils and fats Training includes • Oils & fats • Market trends • Functionality for differentiation • Chocolate applications like filling fats, gloss and bloom retarding • Practical work in lab 12
Chocolate & Confectionery Fats 330 500 450 320 4 4 7 3 2 0 400 310 3 1 2 350 3 7 8 3 0 9 3 6 9 300 3 4 1 300 3 0 1 3 1 6 2 9 9 290 250 280 200 2010 2011 2012 2013 2014* 2010 2011 2012 2013 2014* Volum es ('000 MT) Operating profit (SEK m illion) 1.50 1 .4 3 1.30 1 .2 3 1.10 1 .1 8 1 .1 4 1 .0 2 0.90 0.70 0.50 2010 2011 2012 2013 2014* Operating profit per kilo (SEK) 13 * Q3 R12M
AAK is well positioned for continued growth A strong passion for chocolate and second to none in oils & fats knowledge Unmatched on customer co-development – partner from idea to launch • Enabling our customers to differentiate • Optimizing existing chocolate production Strong value-added industry solutions AAK Academy A “small big” company that can support and supply solutions globally but with a local mindset 14
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