Cloetta AB interim report Q4: October – December 2023
Cloetta ends the year with another strong quarter, where both Branded packaged products and Pick & mix continue to deliver double-digit growth. Full-year net sales are for the first time in the company’s history exceeding SEK 8 billion. The sales were accompanied by an all-time high operating profit, despite compressed margins. The Greenfield project progressed as planned in all workstreams, and the technical ability to operate Europe’s first emission-free major candy factory has been confirmed.
- Net sales for the quarter increased by 14.5 per cent to SEK 2,182m (1,905) including a positive impact from foreign exchange rates of 2.8 per cent.
- Sales of Branded packaged products increased organically by 11.1 per cent during the quarter.
- Sales of Pick & mix increased organically by 13.6 per cent during the quarter.
- Operating profit adjusted for items affecting comparability, amounted to SEK 200m (183). Operating profit amounted to SEK 174m (187), impacted by items affecting comparability of SEK -26m (4), mainly related to the Greenfield facility.
- Operating profit, adjusted, of Branded packaged products amounted to SEK 200m (180).
- Operating profit, adjusted, of Pick & mix amounted to SEK 0m (3).
- Profit for the period amounted to SEK 138m (108), which equates to basic and diluted earnings per share of SEK 0.48 (0.38).
- Cash flow from operating activities was SEK 478m (281).
- Net debt/EBITDA ratio was 1.7x (1.9).
- The Board proposes a dividend of SEK 1.00 (1.00) per share.
Events during and after the end of the period
- CEO Henri de Sauvage-Nolting to leave Cloetta.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Friday 26 January 2024 at 10.00 a.m. (CET).
Dial-in number(s)
SE: +46 8 5051 0031
UK: +44 207 107 0613
US: +1 631 570 5613
We kindly ask those who wish to dial-in to make sure you are connected to the phone conference by calling in and register a few minutes before the conference begins.
Web presentation
The live broadcast will be available on: creo-live.creomediamanager.com/2a0844fe-307a-49aa-b224-95511d5022ac. 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). The information was submitted for publication, through the agency of the contact person, on 26-01-2024 07:30 CET.
