Concur with Ian & Lewis. Other than emulsified (winterised) oils it might also contain Fish Meals LT94 (Produced from chilled raw fish, it is treated at low drying temperatures, maintaining more of the nutritional qualities and amino acids, making it far superior to most standard fishmeals) or predigested enzyme treated fishmeals (produced from whole fish, this fine, floury, aromatic meal is processed under a very strict process that involves spray drying, flash pasteurisation and natural enzymatic hydrolysis). As already highlighted, winterised baits are specifically designed for high leakage in colder waters which increases as water temps increase. Use in summer conditions with full confidence being aware that longevity on the hook will be less. One could improve this winterised bait for summer application by dosing them with any fish based oil eg salmon oil.
Cheers, Jon