Strong rebound in both segments, with sales of Branded packaged products back at pre-pandemic levels and good progress on Pick & mix profitability.
Net sales for the quarter increased by 14.8 per cent to SEK 1,420m (1,237) including a negative impact from foreign exchange rates of 3.4 per cent.
Sales of Branded packaged products increased organically by 7.3 per cent during the quarter: 0.7 per cent in April, 17.8 per cent in May and 5.0 per cent in June.
Sales of Pick & mix increased organically by 79.6 per cent during the quarter: 85.4 per cent in April, 111.0 per cent in May and 55.9 per cent in June.
Operating profit amounted to SEK 139m (105). Profit for the period amounted to SEK 96m (108). Operating profit, adjusted for items affecting comparability, amounted to SEK 140m (110). Last year, the operating profit was favourably impacted by the phasing of supply chain costs of approximately SEK 35m between the second and the third quarter.
Operating profit, adjusted, of Branded packaged products amounted to SEK 136m (169).
Operating profit, adjusted, of Pick & mix amounted to SEK 4m (-59).
Cash flow from operating activities was SEK 166m (-39).
Net debt/EBITDA ratio was 2.8x (2.6).
During the quarter, Cloetta refinanced the Group for up to four years through its existing banks.
After the end of the quarter, the Board resolved on the repurchase of the company's own B-shares to enable Cloetta to transfer shares under the long-term share-based incentive program.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation on Friday 16 July 2021 at 10 a.m. (CET). Information is available at www.cloetta.com.
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This information is information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person detailed below, at 8:00 a.m. CET on 16 July 2021.
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40
Cloetta AB published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 06:04:04 UTC.