Cloetta AB: Announces Interim Report Q2/2012

Stockholm / SE. (cab) Swedish Cloetta AB announced net sales for the second quarter of fiscal year 2012 amounted to 1’212 million SEK (1’120 million SEK). Operating profit was minus 53 million SEK (70 million SEK). Underlying net sales fell by 3,0 percent, which is mainly explained by weak market conditions. Items affecting comparability amounted to minus 103 million SEK (minus 52 million SEK), and consisted mainly of costs related to the integration process and costs arising from factory restructurings. Cash flow from operating activities reached 102 million SEK (143 million SEK). Underlying Ebita amounted to 53 million SEK (112 million SEK). The decrease is mainly due to the fact that it has not been possible to fully compensate for higher raw material costs through increased net prices. The integration process is continuing as planned. Staff reductions were carried out in August. The factory restructurings are proceeding according to plan. A decision has been made to close the factories in Aura, Alingsås and Gävle.

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