Cloetta AB: announces Q4-2023 interim report

Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, ends the year with another strong quarter, where both Branded packaged products and Pick and mix continue to deliver double-digit growth. Full-year net sales are for the first time in the company’s history exceeding SEK 8 billion. The sales were accompanied by an all-time high operating profit, despite compressed margins. The Greenfield project progressed as planned in all workstreams, and the technical ability to operate Europe’s first emission-free major candy factory has been confirmed.

  • Net sales for the quarter increased by 14.5 per cent to SEK 2,182m (1,905) including a positive impact from foreign exchange rates of 2.8 per cent.
  • Sales of Branded packaged products increased organically by 11.1 per cent during the quarter.
  • Sales of Pick + mix increased organically by 13.6 per cent during the quarter.
  • Operating profit adjusted for items affecting comparability, amounted to SEK 200m (183). Operating profit amounted to SEK 174m (187), impacted by items affecting comparability of SEK -26m (4), mainly related to the Greenfield facility.
  • Operating profit, adjusted, of Branded packaged products amounted to SEK 200m (180).
  • Operating profit, adjusted, of Pick + mix amounted to SEK 0m (3).
  • Profit for the period amounted to SEK 138m (108), which equates to basic and diluted earnings per share of SEK 0.48 (0.38).
  • Cash flow from operating activities was SEK 478m (281).
  • Net debt/Ebitda ratio was 1.7x (1.9).
  • The Board proposes a dividend of SEK 1.00 (1.00) per share.
Events during and after the end of the period: Henri de Sauvage-Nolting informed the Board of Directors that he wishes to resign from his position as President and CEO of the company. He will remain in his role until September 01, 2024. The Board will now initiate the recruitment of a new President and CEO.