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 |
2019 Q3 |
2019 Q2 |
2019 Q1 |
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 | 1,629 | 1,583 | 1,559 | 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, % | 5.9 | 7.5 | -0.2 | 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, % | 4.3 | 5.7 | -2.8 | -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, % | 36.0 | 36.6 | 36.3 | 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 (1) | -73 | -74 | -74 | -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 | -2 | -3 | -3 | -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 (1) | 200 | 161 | 166 | 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, % (1) | 12.3 | 10.2 | 10.6 | 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) (1) | 195 | 159 | 164 | 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), % (1) | 12.0 | 10.0 | 10.5 | 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 (1) | 275 | 238 | 243 | 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 (1) | 270 | 236 | 241 | 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, % | 10.7 | 8.1 | 8.4 | 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 | 659 | 660 | 453 | 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 (1) | 65 | 46 | 46 | 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 (1) | 2,556 | 2,727 | 2,378 | 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 (1) | 7,514 | 7,362 | 7,654 | 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) (1) | 9.4 | 9.4 | 8.9 | 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, % (1) | 42.4 | 42.0 | 41.7 | 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 (1) | 62.3 | 69.0 | 57.9 | 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) | 11.8 | 12.3 | 11.9 | 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 | 14.2 | 13.7 | 14.2 | 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) (1) | 2.5 | 2.7 | 2.4 | 2.3 | 2.5 | 2.8 | 2.4 | 2.4 | 2.6 | 2.8 | 2.3 | 2.4 | 2.8 | 2.8 | 2.8 | 3.0 | 3.4 | 3.3 | 3.6 | 4.0 | 4.3 | 4.6 | 4.5 | 4.2 | 4.4 | 4.7 | 4.6 | 4.9 | 4.9 | 4.7 | na | na | na | na | na |
Cash flow | |||||||||||||||||||||||||||||||||||
Cash flow from operating activities (1) | 255 | -3 | 154 | 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 | -56 | -36 | -189 | -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 (1) | 199 | -39 | -35 | 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 |
Free cash flow (1) | 199 | -41 | 111 | 240 | 206 | 68 | -70 | 259 | 97 | 78 | 121 | 348 | 74 | 82 | 215 | 319 | 144 | 135 | 168 | 226 | 37 | 0 | 55 | 55 | 12 | -77 | -70 | 31 | 33 | 75 | -78 | -25 | 105 | 93 | 95 |
Free cash flow yield (Rolling 12 months), % (1) | 6.2 | 5.9 | 9.0 | 6.3 | 5.8 | 4.5 | 4.0 | 6.5 | 8.0 | 6.2 | 6.1 | 8.7 | 7.7 | 9.1 | 10.9 | 9.5 | 9.7 | 7.8 | 5.9 | 4.9 | 2.4 | 1.8 | 0.7 | -1.4 | -1.9 | -1.6 | 1.4 | 1.6 | 0.1 | 1.8 | 2.8 | 7.0 | na | na | na |
Cash flow from operating activities per share, SEK (1) | 0.9 | -0,0 | 0.5 | 1.0 | 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) | 2,652 | 2,623 | 2,557 | 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 (3) | 0.45 | 0.34 | 0.35 | 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 (3) | 0.45 | 0.34 | 0.35 | 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 | 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) (3) | 286,538,416 | 286,610,771 | 286,627,393 | 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) (3) | 286,695,456 | 286,844,136 | 286,795,950 | 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 |