Cloetta financials

This section contains information about Cloetta’s financial development, quarterly as well as yearly.

Cloetta has operated in its current form since 16 February 2012 when Cloetta AB acquired LEAF Holland B.V. The acquisition is recognised as a reversed acquisition, and consequently the comparable figures for previous years are those from LEAF. Since LEAF did not report interim reports, the tables Quarters, Rolling 12 months and Year to date shows 2011 and onwards. Full year tables shows 2008 and onwards.

In the downloadable excel file you will find all financial tables for the Cloetta Group that are published in the interim reports. The file includes a few tables that are not published on the web site.

Key figures

Quarters

Key figures and per share data
SEKm	2018 Q4	2018 Q3	2018 Q2	2018 Q1	2017 Q4	2017 Q3	2017 Q2	2017 Q1	2016 Q4	2016 Q3	2016 Q2	2016 Q1	2015 Q4	2015 Q3	2015 Q2	2015 Q1	2014 Q4	2014 Q3	2014 Q2	2014 Q1	2013 Q4	2013 Q3	2013 Q2	2013 Q1	2012 Q4	2012 Q3	2012 Q2	2012 Q1	2011 Q4	2011 Q3	2011 Q2	2011 Q1
Profit
Net sales	1,646	1,538	1,472	1,562	1,643	1,505	1,414	1,222	1,367	1,285	1,221	1,234	1,622	1,459	1,280	1,313	1,579	1,303	1,238	1,193	1,441	1,194	1,131	1,127	1,404	1,159	1,212	1,084	1,371	1,124	1,120	1,043
Net sales, change, %	0.2	2.2	4.1	27.8	20.2	17.1	15.8	0.6	n/a	n/a	n/a	n/a	2.7	12.0	3.4	10.1	9.6	9.1	9.5	5.9	2.6	3.0	-6.8	4.0	2.3	3.1	8.3	3.9	na	na	na	na
Organic net sales, change, %	-3.2	-3.6	-4.9	1.1	0.0	-2.8	-0.5	-2.0	n/a	n/a	n/a	n/a	-2.3	4.2	0.8	4.0	1.7	-0.6	2.2	0.6	1.6	1.4	-4.1	-3.3	-7.4	-3.2	-3.0	-1.8	na	na	na	na
Gross margin, %	36.8	36.3	38.0	35.9	36.9	35.0	36.7	37.2	41.0	38.4	41.9	37.0	38.9	38.7	40.9	37.4	37.7	38.4	37.8	35.5	34.8	37.9	38.4	37.5	33.8	37.0	34.1	35.5	33.5	39.7	38.1	39.7
Depreciation	-52	-55	-54	-57	-56	-61	-53	-48	-53	-52	-51	-50	-59	-58	-55	-55	-55	-48	-48	-47	-44	-45	-43	-43	-44	-43	-45	-35	-34	-21	-29	-31
Amortization	-3	-3	-3	-3	-3	-4	-3	-1	-	-2	-2	-1	-1	-1	-1	-1	-1	-1	0	-1	-1	0	-1	0	0	-	-	-1	-2	-2	-2	-2
Impairment loss other non-current assets	-	-	-	-	-	-9	-	-	-2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating profit, adjusted	174	194	145	164	206	169	115	114	209	203	156	127	255	194	133	108	257	193	108	74	na	na	na	na	na	na	na	na	na	na	na	na
Operating profit margin, adjusted, %	10.6	12.6	9.9	10.5	12.5	11.2	8.1	9.3	15.3	15.8	12.8	10.3	15.7	13.3	10.4	8.2	16.3	14.8	8.7	6.2	na	na	na	na	na	na	na	na	na	na	na	na
Operating profit (EBIT)	159	180	155	166	171	169	90	97	180	195	148	112	239	212	130	90	262	178	85	52	175	131	54	58	82	90	-53	6	84	129	74	73
Operating profit margin (EBIT margin), %	9.7	11.7	10.5	10.6	10.4	11.2	6.4	7.9	13.2	15.2	12.1	9.1	14.7	14.5	10.2	6.9	16.6	13.7	6.9	4.4	12.1	11.0	4.7	5.2	5.7	7.5	-4.4	0.5	8.1	11.7	6.2	7.3
EBITDA, adjusted	229	252	202	224	265	234	171	163	262	257	209	178	315	253	189	164	313	242	156	122	na	na	na	na	na	na	na	na	na	na	na	na
EBITDA	214	238	212	226	230	243	146	146	235	249	201	163	299	271	186	146	318	227	133	100	220	176	98	101	126	133	-8	42	120	152	105	106
Profit/loss margin, %	8.7	10.9	8.7	7.9	8.8	9.4	5.0	7.0	11.3	10.0	9.7	5.5	11.8	11.6	7.1	3.2	12.1	9.7	1.5	0.2	8.8	8.5	-6.1	4.4	4.9	2.2	-10.7	-10.4	-5.0	-0.6	-7.9	-8.2

Financial position
Working capital	402	478	505	458	232	330	340	478	572	656	543	500	628	709	591	657	819	824	748	673	763	634	556	484	458	488	491	638	586	549	513	547
Capital expenditure	48	44	51	41	45	39	39	34	58	42	32	38	47	31	28	55	62	44	44	36	61	42	54	54	116	59	50	43	70	59	50	45
Net debt	2,091	2,339	2,561	2,173	2,035	2,256	2,735	2,308	2,443	2,757	2,695	2,615	2,818	3,170	2,960	3,118	3,308	3,461	3,493	3,304	3,230	3,248	3,244	3,019	3,056	3,127	3,196	4,277	2,827	2,997	2,969	2,846
Capital employed	7,027	6,904	6,833	7,319	6,979	6,852	6,727	7,360	7,329	8,206	7,747	7,770	7,756	8,040	7,756	7,790	8,041	7,860	7,830	7,537	7,438	7,149	7,155	6,978	7,066	6,810	6,918	7,278	6,682	6,750	6,579	6,442
Return on capital employed, % (Rolling 12 months)	9.5	9.8	9.8	9.0	8.2	8.3	9.2	10.8	11.1	8.9	9.2	9.0	8.6	8.7	8.5	8.1	7.5	6.6	6.0	5.8	6.1	4.9	4.4	2.6	1.9	2.0	2.6	4.0	5.6	na	na	na
Equity/assets ratio, %	43.3	41.9	41.4	42.1	41.3	41.7	39.1	46.2	45.5	44.4	44.4	44.6	44.5	43.2	42.9	41.7	40.6	39.8	39.7	40.5	41.7	39.3	39.2	38.2	35.6	36.2	37.4	26.4	-4.5	-4.9	-4.7	-14.8
Net debt/equity ratio	52.7	60.8	68.1	53.5	53.3	60.4	73.2	54.3	58.2	60.4	61.6	59.6	64.9	73.0	71.9	77.5	81.7	89.9	91.4	87.9	86.2	93.7	94.2	92.0	91.9	96.5	95.8	175.0	na	na	na	na
Return on equity, % (Rolling 12 months)	12.2	8.9	8.5	6.6	6.2	9.1	8.7	-4.1	-4.5	8.5	9.3	9.0	8.9	8.9	8.4	7.1	6.0	7.0	7.0	5.7	7.0	6.7	4.6	2.5	-2.2	-3.2	-3.9	-3.0	na	na	na	na
Equity per share, SEK	13.7	13.3	13.0	14.1	13.2	12.9	12.9	14.7	14.5	15.8	15.2	15.2	15.1	15.0	14.3	13.9	14.0	13.3	13.2	13.0	13.0	12.0	11.9	11.4	11.5	11.2	11.5	11.0	na	na	na	na
Net Debt/EBITDA (Rolling 12 months)	2.31	2.48	2.77	2.42	2.39	2.63	2.77	2.34	2.44	2.76	2.82	2.78	3.03	3.39	3.30	3.60	3.97	4.30	4.55	4.47	4.19	4.40	4.68	4.59	4.90	4.85	4.69	na	na	na	na	na

Cash flow
Cash flow from operating activities	288	250	119	-29	305	135	117	155	406	116	114	253	367	174	163	223	290	75	44	91	116	54	-23	-16	147	93	125	-35	45	164	143	140
Cash flow from investing activities	-48	-44	-51	-41	23	272	-283	-34	-105	-147	-32	-38	-48	-236	-28	-55	-60	-51	-115	-143	-61	-39	-79	-23	-99	-60	-1,422	75	-132	-76	-70	-57
Cash flow after investments	240	206	68	-70	328	407	-166	121	301	-31	82	215	319	-62	135	168	230	24	-71	-52	55	15	-102	-39	48	33	-1,297	40	-87	88	73	83
Cash conversion, %	79.0	82.5	74.8	81.7	83.0	86.3	81.3	81.0	82.1	86.8	87.6	81.5	85.1	87.7	85.2	66.5	80.2	81.8	71.8	70.5	na	na	na	na	na	na	na	na	na	na	na	na
Cash flow from operating activities per share, SEK	1	0.9	0.4	-0.1	1.1	0.5	0.4	0.5	1.4	0.4	0.4	0.9	1.3	0.6	0.6	0.8	1.0	0.3	0.2	0.3	0.4	0.2	0.1-	0.1-	0.5	0.3	0.5	0.1-	na	na	na	na

Employees
Average number of employees	2,452	2,416	2,459	2,477	2,465	2,450	2,314	2,086	2,115	2,132	2,160	2,174	2,563	2,493	2,453	2,462	2,516	2,495	2,452	2,410	2,464	2,432	2,409	2,410	2,565	2,577	2,561	2,518	2,192	2,163	2,184	2,199

Share data
Earnings per share, SEK
Basic (1)	0.55	0.46	0.34	0.33	0.43	0.53	-1.15	0.21	-1.47	0.38	0.27	0.15	0.55	0.45	0.23	0.12	0.55	0.30	0.03	-0.04	0.65	0.30	-0.15	0.12	0.54	0.05	-0.43	-0.57	0.47	-0.05	-0.26	-0.49
Diluted (1)	0.55	0.46	0.34	0.33	0.43	0.53	-1.15	0.21	-1.47	0.38	0.27	0.15	0.55	0.45	0.23	0.12	0.55	0.30	0.03	-0.04	0.65	0.30	-0.15	0.12	0.54	0.05	-0.43	-0.57	0.47	-0.05	-0.26	-0.49
Number of shares at end of period	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	288,619,299	220,681,378	262,137,526	262,137,526	262,137,526	226,849,529
Average numbers of shares (basic) (1)	286,627,393	286,627,393	286,413,012	286,296,737	286,645,530	286,645,530	286,339,892	286,279,569	286,279,569	286,279,569	286,159,369	286,051,689	286,051,689	286,154,515	286,481,689	286,481,689	286,481,689	286,481,689	287,424,546	287,581,689	287,581,689	287,581,689	288,619,299	288,619,299	288,619,299	288,619,299	285,633,017	241,382,746	262,137,526	262,137,526	262,137,526	226,849,529
Average numbers of shares (diluted) (1)	286,803,180	286,765,707	286,620,265	286,562,172	286,835,623	286,875,122	286,626,106	286,607,989	286,560,336	286,558,440	286,471,820	286,404,267	286,359,672	286,408,540	286,810,369	286,685,221	286,622,223	286,593,066	287,626,010	287,657,851	287,626,238	287,597,798	288,619,299	288,619,299	288,619,299	288,619,299	285,633,017	241,382,746	262,137,526	262,137,526	262,137,526	226,849,529

(1) Cloetta entered into forward contracts to repurchase own shares to fulfill its future obligation to deliver the shares to the participants of the long-term share-based incentive plan. The outstanding contracts at reporting date consist of one contract for 1.991.906 shares at a share price of SEK 29,3886.

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