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Cloetta AB interim report Q3: July – September 2022

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Cloetta is reporting the seventh consecutive quarter of growth in Branded packaged products and continued profitable growth in Pick & mix. Further price increases were implemented during the quarter to compensate for the continuing cost inflation, whilst protecting volumes.

  • Net sales for the quarter increased by 14.8 per cent to SEK 1,798m (1,566) including a positive impact from foreign exchange rates of 3.3 per cent.
  • Sales of Branded packaged products increased organically by 10.2 per cent during the quarter.
  • Sales of Pick & mix increased organically by 15.7 per cent during the quarter.
  • Operating profit adjusted for items affecting comparability, amounted to SEK 188m (180). Operating profit amounted to SEK 186m (179).
  • Operating profit, adjusted, of Branded packaged products amounted to SEK 186m (171).
  • Operating profit, adjusted, of Pick & mix amounted to SEK 2m (9).
  • Profit for the period amounted to SEK 130m (136), which equates to basic and diluted earnings per share of SEK 0.45 (0.47).
  • Cash flow from operating activities was SEK 289m (281).
  • Net debt/EBITDA ratio was 2.2x (2.5).

Events during and after the end of the period

  • Cloetta conducted an investor event to update the market on the investment in a new greenfield facility in the Netherlands.
  • Following the consultation and informing process with the European Works Council and local unions, the Board has now decided to proceed with the investment in a new greenfield facility in the Netherlands.

Please find enclosed the full report.

The interim report will be presented at a conference call with web presentation on Thursday 27 October at 11:00 a.m. CEST.

Dial-in number(s) to the conference call
SE: +46 8 5051 0031
UK: +44 207 107 06 13
US: +1 631 570 56 13

Please make sure you are connected to the phone conference by calling in and register a few minutes before the conference begins.

Web presentation
The live broadcast will be available on: http://creo-live.creomediamanager.com/d271aec4-71d1-459f-a99d-30ff6a0368df. The presentation and the report will be available on http://www.cloetta.com after publication.

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 07:30 a.m. CEST on 27 October 2022.
 

Contact
Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40

About Cloetta

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

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