Quarterly report July – September 2015
- Volume decreased by 15.5 % in the third quarter, primarily explained by the loss of the Coop account in Sweden.
- Net sales decreased by 11.0 % to MSEK 370.2 (415.9). Measured in constant currency the decrease was 12.5 %.
- The underlying EBIT amounted to MSEK 12.5 (17.6).
- Cash flow from operating activities increased significantly to MSEK 48.2 (3.3), mainly driven by improved working capital.
First nine months
- Volume decreased by 20.0% the first nine months as a result of lost accounts in Sweden and Finland. Volume development in Norway and Denmark was strong.
- Net sales decreased by 14.5 % to MSEK 1,128.7 (1,320.5). Measured in constant currency the decrease was 16.9%.
- The underlying EBIT decreased to MSEK 21.0 (36.4).
- Cash flow from operating activities increased by MSEK 117.3 to MSEK 60.6 (-56.7).
”The competition in the Nordic markets has intensified, especially with producers entering the market. Our focus is to differentiate our concept and continue to develop the pick & mix category, while we also strive to broaden our offering and reach new sales channels. Additional cost savings will be implemented to limit the impact of lost customer accounts. We see potential in our new strategic agreement with ICA as a platform to gain market share.”, says Fredrik von Oelreich, President & CEO at Candyking.
This information was made public on the 27th November 2015, at 08.00.
For more information, please contact:
Fredrik von Oelreich, President & CEO, +46 (0)8 795 03 00
Candyking was founded in 1984 and is the leading supplier of pick & mix in the Nordic region. the UK & Ireland and Poland. Candyking currently has more than 9.000 outlets and offers stores a turnkey concept that includes products. displays and accompanying store and logistic services. Candyking’s confectionery concept and brands are Candyking. Karamellkungen and Candyking Favourites. In addition. Candyking is a leading pick & mix supplier of natural snacks in Sweden and Finland under the Parrot’s brand. In 2014 the company had sales of about SEK 1.8 billion. More information is available at www.candyking.com