Cloetta continues to deliver strong double-digit growth in both Branded packaged products and Pick & mix, despite a large retail customer in the UK going into administration. The overall strong sales were accompanied by strengthened profit primarily driven by mix, pricing and cost control. The Greenfield facility is progressing through the permitting process with an expected new timeline.
- Net sales for the quarter increased by 19.5 per cent to SEK 2,148m (1,798) including a positive impact from foreign exchange rates of 7.3 per cent.
- Sales of Branded packaged products increased organically by 10.9 per cent during the quarter.
- Sales of Pick & mix increased organically by 16.4 per cent during the quarter.
- Operating profit adjusted for items affecting comparability, amounted to SEK 208m (188). Operating profit amounted to SEK 201m (186), impacted by items affecting comparability of SEK -7m (-2), mainly related to the Greenfield facility.
- Operating profit, adjusted, of Branded packaged products amounted to SEK 216m (186).
- Operating loss, adjusted, of Pick & mix amounted to SEK -8m (2).
- Profit for the period amounted to SEK 161m (130), which equates to basic and diluted earnings per share of SEK 0.56 (0.45).
- Cash flow from operating activities was SEK 193m (289).
- Net debt/EBITDA ratio was 2.0x (2.2).
Events during and after the end of the period
- After the end of the quarter, Mikael Norman declined re-election as the chairman of the board.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Friday 27 October 2023 at 10.00 a.m. (CEST).
SE: +46 8 5051 0031
UK: +44 207 107 0613
US: +1 631 570 5613
Please make sure you are connected to the phone conference by calling in and register a few minutes before the conference begins.
The live broadcast will be available on: https://creo-live.creomediamanager.com/d11c37ad-4cd1-4b9a-b986-dd148ffbf6ce The presentation and the report will be available on www.cloetta.com after publication.
This disclosure contains information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-10-2023 07:30 CET.
Catharina Kaijser, Head of IR and Communications (interim), +46 766 96 59 40