Cloetta AB interim report Q1: January – March 2021
April 23, 2021 at 02:24 am EDT
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Strong quarter for Branded packaged products while Pick & mix was still negatively impacted by Covid-19, despite stronger Easter sales.
Net sales for the quarter decreased by 7.9 per cent to SEK 1,398m (1,518), including a negative impact from foreign exchange rates of 3.7 per cent.
Sales of Branded packaged products increased organically by 2.5 per cent during the quarter: 2.7 per cent in January, -0.1 per cent in February and 3.8 per cent in March.
Sales of Pick & mix declined organically by 22.9 per cent during the quarter: -38.5 per cent in January, -38.1 per cent in February and 13.4 per cent in March.
Operating profit amounted to SEK 107m (149). Profit for the period amounted to SEK 106m (44). Operating profit, adjusted for items affecting comparability, amounted to SEK 111m (152).
Operating profit, adjusted, of Branded packaged products amounted to SEK 135m (175).
Operating profit, adjusted, of Pick & mix amounted to SEK -24m (-23).
Cash flow from operating activities was SEK 57m (67).
Net debt/EBITDA ratio was 2.8x (2.4).
After the end of the quarter, Cloetta refinanced the Group through its existing banks for up to four years. Cloetta has also decided to invest an additional approximately SEK 130m in packaging technology.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Friday 23 April 2021 at 10 a.m. (CET). Information is available at www.cloetta.com.
This information is information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person detailed below, at 8:00 a.m. CET on 23 April 2021.
Contact
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40
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Cloetta AB published this content on 23 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 April 2021 06:23:08 UTC.
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.