Cloetta AB: announces Q3-2023 interim report

Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, continues to deliver strong double-digit growth in both Branded packaged products and Pick + mix, despite a large retail customer in the UK going into administration. The overall strong sales were accompanied by strengthened profit primarily driven by mix, pricing and cost control. The Greenfield facility is progressing through the permitting process with an expected new timeline.

  • Net sales for the quarter increased by 19.5 per cent to SEK 2,148m (1,798) including a positive impact from foreign exchange rates of 7.3 per cent.
  • Sales of Branded packaged products increased organically by 10.9 per cent during the quarter.
  • Sales of Pick + mix increased organically by 16.4 per cent during the quarter.
  • Operating profit adjusted for items affecting comparability, amounted to SEK 208m (188). Operating profit amounted to SEK 201m (186), impacted by items affecting comparability of SEK -7m (-2), mainly related to the Greenfield facility.
  • Operating profit, adjusted, of Branded packaged products amounted to SEK 216m (186).
  • Operating loss, adjusted, of Pick + mix amounted to SEK -8m (2).
  • Profit for the period amounted to SEK 161m (130), which equates to basic and diluted earnings per share of SEK 0.56 (0.45).
  • Cash flow from operating activities was SEK 193m (289).
  • Net debt/Ebitda ratio was 2.0x (2.2).
After the end of the quarter, Mikael Norman declined re-election as the chairman of the board. But he remains chairman of the board until the annual general meeting on April 09, 2024.