Cloetta AB: announces Q1-2021 interim report

Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, announced its interim statement for the first quarter 2021, covering the period from January to March 2021. The company announces a strong quarter for branded packaged products while Pick + mix was still negatively impacted by Covid-19, despite stronger Easter sales.

  • Net sales for the quarter decreased by 7.9 percent to SEK 1,398m (1,518), including a negative impact from foreign exchange rates of 3.7 percent.
  • Sales of Branded packaged products increased organically by 2.5 percent during the quarter: 2.7 percent in January, -0.1 percent in February and 3.8 percent in March.
  • Sales of Pick + mix declined organically by 22.9 percent during the quarter: -38.5 percent in January, -38.1 percent in February and 13.4 percent in March.
  • Operating profit amounted to SEK 107m (149). Profit for the period amounted to SEK 106m (44). Operating profit, adjusted for items affecting comparability, amounted to SEK 111m (152).
  • Operating profit, adjusted, of Branded packaged products amounted to SEK 135m (175).
  • Operating profit, adjusted, of Pick + mix amounted to SEK -24m (-23).
  • Cash flow from operating activities was SEK 57m (67).
  • Net debt/Ebitda ratio was 2.8x (2.4).
  • After the end of the quarter, Cloetta refinanced the Group through its existing banks for up to four years. Cloetta has also decided to invest an additional approximately SEK 130m in packaging technology.