Candyking Holding: announces Q3/2015 results

Solna / SE. (chab) Swedish Candyking Holding AB announced its results for the third quarter 2015 – July to September – and the first nine months of the current financial year.

Third quarter

  • Volume decreased by 15.5 percent in the third quarter, primarily explained by the loss of the Coop account in Sweden.
  • Net sales decreased by 11.0 percent to 370.2 million SEK (415.9). Measured in constant currency the decrease was 12.5 percent.
  • The underlying Ebit amounted to 12.5 million SEK (17.6).
  • Cash flow from operating activities increased significantly to 48.2 million SEK (3.3), mainly driven by improved working capital.

First nine months

  • Volume decreased by 20.0 percent the first nine months as a result of lost accounts in Sweden and Finland. Volume development in Norway and Denmark was strong.
  • Net sales decreased by 14.5 percent to 1’128.7 million SEK (1’320.5). Measured in constant currency the decrease was 16.9 percent.
  • The underlying Ebit decreased to 21.0 million SEK (36.4).
  • Cash flow from operating activities increased by 117.3 million SEK to 60.6 million SEK (minus 56.7).

CEO comment

«The competition in the Nordic markets has intensified, especially with producers entering the market. Our focus is to differentiate our concept and continue to develop the pick + mix category, while we also strive to broaden our offering and reach new sales channels. Additional cost savings will be implemented to limit the impact of lost customer accounts. We see potential in our new strategic agreement with ICA as a platform to gain market share», says Fredrik von Oelreich, President and CEO at Candyking.

About Candyking

Candyking was founded in 1984 and is the leading supplier of pick + mix in the Nordic region, the UK + Ireland and Poland. Candyking currently has more than 9’000 outlets and offers stores a turnkey concept that includes products, displays and accompanying store and logistic services. Candyking’s confectionery concept and brands are Candyking, Karamellkungen and Candyking Favourites. In addition, Candyking is a leading pick + mix supplier of natural snacks in Sweden and Finland under the Parrot’s brand. In 2014, the company had sales of about 1.8 billion SEK (Image: pixabay.com).

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