Cloetta AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 15, 2022 at 02:00 am EDT
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Cloetta AB (publ) reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was SEK 1,626 million compared to SEK 1,420 million a year ago. Net loss was SEK 94 million compared to net income of SEK 86 million a year ago. Basic loss per share from continuing operations was SEK 0.33 compared to basic earnings per share from continuing operations of SEK 0.3 a year ago. Diluted loss per share from continuing operations was SEK 0.33 compared to diluted earnings per share from continuing operations of SEK 0.3 a year ago.
For the six months, sales was SEK 3,166 million compared to SEK 2,818 million a year ago. Net income was SEK 37 million compared to SEK 189 million a year ago. Basic earnings per share from continuing operations was SEK 0.13 compared to SEK 0.66 a year ago. Diluted earnings per share from continuing operations was SEK 0.13 compared to SEK 0.66 a year ago.
Cloetta AB is a Sweden-based company active in the chocolate and sugar confectionery market. The primary ingredient for its products is cocoa. The Company uses cocoa mass that is produced from seeds found in the fruit of cocoa trees grown along the equator. It produce and sells products within three main categories, namely Chocolate, which comprises chocolate wafers, plates, pralines and dragees; Sugar confectionery, which comprises foam, wine gums, liquorice, toffees, hard boiled candy, chewy candy, toffee/fudge/caramel and lollypops, and Refreshment, which comprises pastilles and chewing gum. The Company owns such brands, as Lakerol, Cloetta, Jenkki, Kexchoklad, Malaco, Sportlife, Saila, Red Band and Sperlari. The Company has 12 production units in six countries. In January 2014, it acquired Alrifai Nutisal AB. In May 2014, it acquired 75% of shares of Aran Candy Ltd and the brand The Jelly Bean Factory, Irish company producing and selling gourmet Jelly Beans.
CLOETTA AB 
