Seasonality

Cloetta’s sales and operating profit are subject to some seasonal variations.

Sales in the first and second quarters are affected by the Easter holiday, depending on in which quarter and when in the quarter it occurs. In the fourth quarter, sales are usually higher than in the first three quarters of the year, which is mainly attributable to the sale of products in Sweden and Italy in connection with the holiday season.

Cloetta - Q4 2016 - Net sales

Cloetta - Q4 2016 - Operating profit

Cloetta - Q4 2016 - Cash flow

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