Cloetta AB interim report April – June 2024: Improved profitability and continued organic growth

“Our operating environment during the second quarter 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”, comments 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)

Events after the end of the period

• There were no significant events after the end of the reporting period

Please find enclosed the full report.

The interim report will be presented at a conference call with web presentation on Friday 12 July 2024 at 10.00 a.m. (CEST).

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We kindly ask those who wish to dial-in to make sure you are connected to the phone conference by calling in and to register a few minutes before the conference begins.

Web presentation
The live broadcast will be available on: creo-live.creomediamanager.com/1022ca8e-8304-465d-8975-5bcf7eaedfb3 
The presentation and the report will be available on www.cloetta.com after publication.
 

This disclosure contains information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 12-07-2024 07:30 CET.