Annual and Sustainability Report 2022
About Cloetta
Cloetta, founded in 1862, is a leading confectionary company in Northern Europe. Our products are sold in more than 50 countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK as the main markets. We own some of the strongest brands on the market, such as Läkerol, Cloetta, CandyKing, Jenkki, Kexchoklad, Malaco, Sportlife and Red Band. Cloetta has seven production units in five countries and the company’s class B-shares are traded on Nasdaq Stockholm.
Cloetta’s net sales
Words from the President
“Needless to say it was a turbulent year with major consequences from the war in Ukraine which led to a lot of focus on the supply chain, raw materials, energy and general cost inflation. At the same time, our business progressed very well – under the circumstances – and we were able to deliver on our strategic agenda when it comes to cost control and pricing while retaining healthy volumes.”
Key figures
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1862
Founded in
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2600
Employees
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> 50
Countries
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7
Factories
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SEK 6.9 bn
Net sales
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10.1 %
Operating profit margin, adjusted
-
2
Business segments
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1.9 x
Net debt/EBITDA
Strategic priorities
Cloetta is a proud provider of joyful moments – our brands and products bring fun and joy to memorable occasions. We are convinced that our consumer focus is the basis for Cloetta to grow and our brands to flourish. We will meet the future as a united organisation – One Cloetta – with a winning culture and passionate way of working.
Consumer trends
- Greater individualisation
- Responsibility for the environment and human rights
- Health
- E-commerce and digital channels increasingly important
- Superior sensory experiences
- Local, genuine and transparent brands
New greenfield facility
In 2022, Cloetta took the decision to invest in a new greenfield facility in the Netherlands and consequently to close the three current confectionery factories in Turnhout, Belgium, and Roosendaal, the Netherlands. The investment will enable significant cost savings, facilitate further growth and reduce greenhouse emissions.
Strategies driving penetration
Sustainability
Cloetta’s sustainability agenda, “A sweeter future”, focuses on creating joy and long-lasting value For You, For People and For the Planet. The initiatives within the sustainability agenda cover topics all across the value chain where Cloetta has the ability to make an impact.
Value chain
Investment case
- Strong local brands
- Attractive non-cyclical market
- Focus on continued margin expansion
- Clear strategy to deliver growth
- Strong market positions and distribution
- Attractive cash-flow generation and dividend
- Sustainable value creation