Candyking Holding AB: reports Q4/2015 results

Solna / SE. (chab) Swedish Candyking Holding AB announced its results for the fourth quarter and full year 2015 as follows.

Fourth quarter

• Volume decreased by 16.1 percent in the fourth quarter, primarily explained by lost customer contracts in Sweden.
• Net sales decreased by 11.4 percent to 397.0 million SEK (448.0 million SEK). Measured in constant currency the decrease was 11.5 percent.
• The underlying Ebit amounted to 18.8 million SEK (21.5 million SEK).
• Decreasing sales in Sweden was partly compensated by continued positive development in Norway and Denmark.
• Cash flow from operating activities decreased to 39.6 million SEK (78.6 million SEK).

Full year 2015

• Volume decreased by 19.0 percent as a result of lost accounts in Sweden and Finland.
• Net sales decreased by 13.7 percent to 1’525.7 million SEK (1’768.6 million SEK). Measured in constant currency the decrease was 15.6 percent.
• The underlying Ebit amounted to 39.8 million SEK (69.3 million SEK) a decrease which is mainly explained by lower sales in Sweden and Finland.
• Increased sales and profitability in Norway, Denmark and UK.
• Cash flow from operating activities increased by 77.5 million SEK to 99.4 million SEK (21.9 million SEK).

CEO comment

«Candyking ended 2015 with an operating profit of 19 million SEK in the fourth quarter, some 3 million SEK lower than previous year. Strong performances in UK, Norway and Denmark, along with cost measures taken almost compensated for the significant volume decline in the Swedish market. Net debt continues to decline and is now 749 million SEK. As a consequence of the intensified competition further cost savings will be implemented in the beginning of 2016», says Fredrik von Oelreich, President + CEO at Candyking.

About Candyking

Candyking was founded in 1984 and is the leading supplier of pick + mix in the Nordic region. the UK + Ireland and Poland. Candyking currently has more than 9.000 outlets and offers stores a turnkey concept that includes products. displays and accompanying store and logistic services. Candyking’s confectionery concept and brands are Candyking. Karamellkungen and Candyking Favourites. In addition. Candyking is a leading pick + mix supplier of natural snacks in Sweden and Finland under the Parrot’s brand. In 2015 the company had sales of about 1.5 billion SEK.