Cloetta AB interim report Q4: October – December 2020
Taking actions to mitigate the impact of COVID-19 as the previous sales recovery transitioned into a new slowdown during the quarter.
Net sales for the quarter decreased by 14.9 per cent to SEK 1,466m (1,722), including a negative effect of 2.6 per cent due to exchange rate fluctuations.
- Sales of branded packaged products decreased organically by –3.6 per cent during the quarter, comprised of –1.4 per cent for October, –3.4 per cent for November, and –6.8 per cent for December.
- Sales of pick & mix declined organically by –35.9 per cent during the quarter, comprised of –38.5 per cent for October, –30.1 per cent for November, and –38.4 per cent for December.
- Operating profit amounted to SEK 121m (209). Profit for the period amounted to SEK 83m (172). Operating profit, adjusted for items affecting comparability, amounted to SEK 123m (216).
- Following the impact of COVID-19, the total pick & mix business generated a negative EBIT of approximately SEK 135m in 2020.
- Cash flow from operating activities was SEK 315m (318).
- Net debt/EBITDA ratio was 2.7 (2.2).
- The Board proposes a dividend of SEK 0.75 (0.50) per share.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation Thursday 28 January 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 28 January 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 8 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