Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, is reporting continued organic growth and strengthened profit in Q3-2024.
«In the third quarter, we continued to grow organically while food price inflation stabilised. Total volumes were stable, with Pick + mix growing faster than Branded packaged products. Profitability increased mainly driven by our continued margin-enhancing activities in Pick + mix. The historically high cocoa price did not significantly impact this quarter», says President and CEO Katarina Tell.
- Net sales for the quarter increased by 2.2 per cent to SEK 2,196m (2,148) including a negative impact from foreign exchange rates of -2.0 per cent
- Sales of Branded packaged products increased organically by 1.4 per cent during the quarter
- Sales of Pick + mix increased organically by 18.6 per cent during the quarter
- Operating profit adjusted for items affecting comparability, amounted to SEK 238m (208)
- Operating profit amounted to SEK 238m (201), with items affecting comparability of SEK 0m (-7)
- Operating profit, adjusted, of Branded packaged products amounted to SEK 191m (216)
- Operating profit, adjusted, of Pick + mix amounted to SEK 47m (-8)
- Profit for the period amounted to SEK 130m (161), which equates to basic and diluted earnings per share of SEK 0.45 (0.56)
- Cash flow from operating activities was SEK 249m (193)
- Net debt/Ebitda ratio was 1.6x (2.0)
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