Cloetta AB: announces Q3-2022 interim report

Stockholm / SE. (cab) Swedish Cloetta AB, a leading confectionery company in the Nordic region and the Netherlands, is reporting the seventh consecutive quarter of growth in Branded packaged products and continued profitable growth in Pick + mix. Further price increases were implemented during the quarter to compensate for the continuing cost inflation, whilst protecting volumes.

• Net sales for the quarter increased by 14.8 per cent to SEK 1,798m (1,566) including a positive impact from foreign exchange rates of 3.3 per cent.
• Sales of Branded packaged products increased organically by 10.2 per cent during the quarter.
• Sales of Pick + mix increased organically by 15.7 per cent during the quarter.
• Operating profit adjusted for items affecting comparability, amounted to SEK 188m (180). Operating profit amounted to SEK 186m (179).
• Operating profit, adjusted, of Branded packaged products amounted to SEK 186m (171).
• Operating profit, adjusted, of Pick + mix amounted to SEK 2m (9).
• Profit for the period amounted to SEK 130m (136), which equates to basic and diluted earnings per share of SEK 0.45 (0.47).
• Cash flow from operating activities was SEK 289m (281).
• Net debt/Ebitda ratio was 2.2x (2.5).

Events during and after the end of the period

• Cloetta conducted an investor event to update the market on the investment in a new greenfield facility in the Netherlands.
• Following the consultation and informing process with the European Works Council and local unions, the Board has now decided to proceed with the investment in a new greenfield facility in the Netherlands.