Cloetta AB: announces Q3-2021 interim results

Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, announced its interim statement for the third quarter 2021, covering the period from July to September 2021. The company reports branded packaged products sales above pre-pandemic levels and steady volume recovery for Pick + mix, accompanied by improved profitability.

  • Net sales for the quarter increased by 6.2 per cent to SEK 1,566m (1,474) including a negative impact from foreign exchange rates of -1.3 per cent.
  • Sales of Branded packaged products increased organically by 4.0 per cent during the quarter: -4.1 per cent in July, 9.3 per cent in August and 6.3 per cent in September.
  • Sales of Pick + mix increased organically by 21.6 per cent during the quarter: 12.3 per cent in July, 26.2 per cent in August and 26.3 per cent in September.
  • Operating profit amounted to SEK 189m (87). Operating profit, adjusted for items affecting comparability, amounted to SEK 190m (130).
  • Operating profit, adjusted, of Branded packaged products amounted to SEK 181m (154).
  • Operating profit, adjusted, of Pick + mix amounted to SEK 9m (-24).
  • Profit for the period amounted to SEK 144m (46), which equates to basic and diluted earnings per share of SEK 0.50 (0.16).
  • Cash flow from operating activities was SEK 290m (313).
  • Net debt/Ebitda ratio was 2.4x (2.6).