Branded sales continued to exceed 2019 levels, driven by strong marketing. Margin-enhancing initiatives brought the Pick & mix business close to breakeven for the full year. The dividend proposal is in line with the pre-pandemic level, supported by a healthy cash flow and strong balance sheet.
- Net sales for the quarter increased by 13.4 per cent to SEK 1,662m (1,466) including a negative impact from foreign exchange rates of -0.4 per cent.
- Sales of Branded packaged products increased organically by 9.3 per cent during the quarter: 1.9 per cent in October, 14.8 per cent in November and 13.2 per cent in December.
- Sales of Pick & mix increased organically by 32.4 per cent during the quarter: 23.3 per cent in October, 33.7 per cent in November and 44.3 per cent in December.
- Operating profit amounted to SEK 157m (114). Operating profit, adjusted for items affecting comparability, amounted to SEK 157m (116).
- The operating profit 2021 has been negatively affected by SEK -3m in Q4 and SEK -30m for the full year as a result of the changed accounting treatment for cloud computing arrangements as announced in the Q3 interim report.
- Operating profit, adjusted, of Branded packaged products amounted to SEK 152m (164).
- Operating profit, adjusted, of Pick & mix amounted to SEK 5m (-48).
- Profit for the period amounted to SEK 147m (77), which equates to basic and diluted earnings per share of SEK 0.51 (0.27).
- Cash flow from operating activities was SEK 368m (310).
- Net debt/EBITDA ratio was 2.0x (2.8).
- The Board proposes a dividend of SEK 1.00 (0.75) per share.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Friday 28 January 2022 at 10.30 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 for publication, through the agency of the contact person detailed below, at 8:00 a.m. CET on 28 January 2022.
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40