Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, is reporting improved profitability and continued organic growth in the second quarter 2024.
«Our operating environment saw a significantly reduced food price inflation than the same quarter last year. We delivered improved profitability and added another quarter of growth to the previous three years of consecutive organic growth. The improved profitability was mainly driven by the full quarterly effect of previous pricing and margin-improving initiatives in Pick + mix», says President and CEO Katarina Tell.
- Net sales for the quarter increased by 2.0 per cent to SEK 2,038m (1,998) including a positive impact from foreign exchange rates of 0.7 per cent
- Sales of Branded packaged products increased organically by 1.2 per cent during the quarter
- Sales of Pick + mix increased organically by 3.4 per cent during the quarter
- Operating profit adjusted for items affecting comparability, amounted to SEK 222m (191). Operating profit amounted to SEK 124m (182), impacted by items affecting comparability of SEK -98m (-9)
- Operating profit, adjusted, of Branded packaged products amounted to SEK 183m (186)
- Operating profit, adjusted, of Pick + mix amounted to SEK 39m (5)
- Profit for the period amounted to SEK 82m (73), which equates to basic and diluted earnings per share of SEK 0.29 (0.26)
- Cash flow from operating activities was SEK 59m (83)
- Net debt/Ebitda ratio was 1.8x (2.3)
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center
- Fodelia Group: had a promising start to 2024
