Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, is reporting another quarter of strong growth in Branded packaged products and continued improved profitability in Pick + mix. While our price increases took effect during the first quarter, the drastically rising input costs seen in 2022 only started to impact us towards the end of the quarter.
- Net sales for the quarter increased by 10.2 percent to SEK 1,540m (1,398) including a positive impact from foreign exchange rates of 3.1 percent.
- Sales of Branded packaged products increased organically by 2.5 percent during the quarter.
- Sales of Pick + mix increased organically by 23.8 percent during the quarter.
- Operating profit amounted to SEK 154m (103). Operating profit, adjusted for items affecting comparability, amounted to SEK 158m (107).
- Operating profit, adjusted, of Branded packaged products amounted to SEK 149m (131).
- Operating profit, adjusted, of Pick + mix amounted to SEK 9m (-24).
- Profit for the period amounted to SEK 131m (103), which equates to basic and diluted earnings per share of SEK 0.46 (0.36).
- Cash flow from operating activities was SEK 27m (54).
- Net debt/Ebitda ratio was 1.9x (2.9).