Start of the year negatively impacted by COVID-19
- Net sales for the quarter decreased by 2.6 per cent to SEK 1,518m (1,559) including a positive impact from foreign exchange rates of 1.4 per cent.
- Operating profit amounted to SEK 149m (164). Profit for the period amounted to SEK 44m (99). Operating profit, adjusted for items affecting comparability, amounted to SEK 152m (166).
- Cash flow from operating activities amounted to SEK 67m (154).
- Net debt/EBITDA ratio was 2.4x (2.4).
- As a consequence of the current uncertainty due to the global outbreak of COVID-19, the Board of Directors decided to withdraw the dividend proposal of SEK 1.00 per share.
- The expected impact from COVID-19 is that the demand for branded packaged products will be lower during the second quarter and that the demand for pick & mix will be significantly reduced. Cloetta also assesses that the operating profit, adjusted, for the second quarter will be significantly lower than prior year.
Please find enclosed the full report.
Time for conference call and web presentation
Friday 24 April at 10:00 a.m. CET
DK: +45 781 501 09
FI: +358 923 195 172
SE: +46 8 566 427 06
UK: +44 333 300 9260
Please make sure you are connected to the phone conference by calling in and register a few minutes before the conference begins.
The interim report will be presented at a conference call with web presentation Friday 24 April at 10 a.m. (CET). Information is available at www.cloetta.com.
This information is information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, by the below contact person, for publication on 24 April, 2020, at 08:00 am CET.
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40