Cloetta AB interim report Q1: January – March 2021
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.
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40
Cloetta, founded in 1862, is a leading confectionary company in Northern Europe. Cloetta´s products are sold in more than 50 countries worldwide with Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK as the main markets. Cloetta owns some of the strongest brands on the market, such as Läkerol, Cloetta, CandyKing, Jenkki, Kexchoklad, Malaco, Sportlife and Red Band. Cloetta has 7 production units in 5 countries. Cloetta’s class B-shares are traded on Nasdaq Stockholm. More information about Cloetta is available on www.cloetta.com