Cloetta AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 14, 2023 at 01:30 am EDT
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Cloetta AB (publ) reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was SEK 1,998 million compared to SEK 1,626 million a year ago. Net income was SEK 73 million compared to net loss of SEK 94 million a year ago. Basic earnings per share from continuing operations was SEK 0.26 compared to basic loss per share from continuing operations of SEK 0.33 a year ago. Diluted earnings per share from continuing operations was SEK 0.26 compared to diluted loss per share from continuing operations of SEK 0.33 a year ago.
For the six months, sales was SEK 3,971 million compared to SEK 3,166 million a year ago. Net income was SEK 138 million compared to SEK 37 million a year ago. Basic earnings per share from continuing operations was SEK 0.48 compared to SEK 0.13 a year ago. Diluted earnings per share from continuing operations was SEK 0.48 compared to SEK 0.13 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 
