Cloetta is reporting strong growth in both Branded packaged products and Pick & mix, primarily driven by pricing to offset higher input costs. Operating profit improved by growing volumes, favorable mix and cost efficiencies, further supported by the earlier Easter.
- Net sales for the quarter increased by 28.1 per cent to
SEK 1,973m (1,540) including a positive impact from foreign exchange rates of 4.6 per cent. - Sales of Branded packaged products increased organically by 20.5 per cent during the quarter.
- Sales of Pick & mix increased organically by 32.7 per cent during the quarter.
-
Operating profit adjusted for items affecting comparability, amounted to
SEK 200m (158). Operating profit amounted toSEK 178m (154), impacted by items affecting comparability ofSEK -22m (-4) that was mainly related to the new greenfield facility. -
Operating profit, adjusted, of Branded packaged products amounted to
SEK 184m (149). -
Operating profit, adjusted, of Pick & mix amounted to
SEK 16m (9). -
Profit for the period amounted to
SEK 65m (131), driven by unrealised exchange rate differences on cash and cash equivalents and items affecting comparability, which equates to basic and diluted earnings per share ofSEK 0.23 (0.46). -
Cash flow from operating activities was
SEK 24m (27). - Net debt/EBITDA ratio was 2.0x (1.9).
Events during and after the end of the period
- The preparatory work for the establishment of the new greenfield facility in
the Netherlands continues. The overall regulatory process is taking longer than initially estimated, and the major planned investments are now expected to be initiated in 2024 instead of later in 2023.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Wednesday
Dial-in number(s)
SE: +46 8 5051 0031
US: +1 631 570 5613
Please 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/dc40394f-79b6-4b5e-b4d6-8482547777c0. The presentation and the report will be available on www.cloetta.com after publication.
This information is information that
Contact
Nathalie Redmo, Head of
About Cloetta
Cloetta, founded in 1862, is a leading confectionary company in
https://news.cision.com/cloetta-ab/r/cloetta-ab-interim-report-q1--january---march-2023,c3758096
https://mb.cision.com/Main/1169/3758096/2011467.pdf
(c) 2023 Cision. All rights reserved., source