First quarter 2012

AarhusKarlshamn AB – Record high first quarter results and again strong growth
in Food Ingredients

  · Volumes increased by 7 percent due to higher speciality volumes and the
impact of AAK Louisville, whilst commodity volumes were down, particulary in the
UK.

  · Net sales amounted to SEK 4,222 million (3,843), an increase by SEK
379 million mainly due to increased volumes; a better product mix; and a minor
positive currency translation impact of SEK 40 million.

  · Operating profit
for the first quarter of 2012 reached SEK 220 million (204), an improvement of 8
percent compared with the corresponding quarter in 2011. Operating profit per
kilo continued to improve, from SEK 0.59 to SEK 0.60 due to a higher proportion
of value added products.

  · A record high operating profit for the first
quarter for the largest business area, Food Ingredients, reached SEK 137 million
(104), an increase of 32 percent. In the first quarter the business area
reported significant volume growth of 12 percent. Continued increases in volumes
of high-value products and a consequently more profitable product mix enhanced
the result. The integration of the acquired Golden Foods/Golden Brands (now AAK
Louisville) continue to develop according to plan.

  · The business area
Chocolate & Confectionery Fats’ operating result reached SEK 81 million (81) and
remained stable as earlier predicted.

  · The smallest business area,
Technical Products & Feed continued to experience challenging markets
conditions. The underlying trend in the first quarter 2012 was still very
challenging but slightly less challenging than during the third and fourth
quarter 2011.

  · We also recorded, as predicted, a record high first quarter
cash flow of SEK 384 million.

  · Earnings per share increased, from SEK 3.38
to SEK 3.43 despite higher interest costs.

Concluding remarks: “The impact on
our industry from the more difficult general economy in Europe is difficult to
predict. However, based on AAK’s customer value propositions for health and
reduced costs, customer product co-development and solutions approach, and the
AAK Acceleration program (Growth-Efficiency-People), we remain prudently
optimistic for the future mainly driven by a very strong Food Ingredients
business,” says CEO and President Arne Frank.

The Interim report for the
first quarter 2012 will be presented today, 3 May 2012 at 1 pm CET at a
telephone conference. For participation, please see instructions under the
Investor tab at the AAK website, http://www.aak.com/.

For further
information, please contact:

Arne Frank, President and CEO
Phone: + 46 40
627 83 00

Anders Byström, CFO
Phone: + 46 40 627 83 00

Fredrik Nilsson,
Head of Investor Relations
Phone: + 46 40 627 83 34
Mobile: + 46 708 95 22
21

The information is that which AarhusKarlshamn 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 3 May 2012 at 11.00 am CET.

AarhusKarlshamn is
the world’s leading producer of high value-added speciality vegetable fats.
These fats are characterized by a high technological content and are used as
substitute for butter-fat and cocoa butter, transfree solutions for fillings in
chocolate and confectionery products, and in the cosmetics industry.
AarhusKarlshamn has production facilities in Denmark, Mexico, the Netherlands,
Sweden, Great Britain, Uruguay and the US. The company is organised in three
Business Areas; Food Ingredients, Chocolate and Confectionery Fats and Technical
Products & Feed. Further information on AarhusKarlshamn can be found on the
company’s website www.aak.com.