Interim report Q1, 1 September – 30 November 2011:Cloetta reports lower profit
Cloetta’s net sales for the first quarter reached SEK 302 million (333). Operating profit for the same period was SEK 31 million (45). Profit after tax was SEK 23 million (32).
“Sales of Cloetta’s two leading brands, Kexchoklad and Polly, rose during the quarter,” says CEO Curt Petri. “The overall drop in sales for the quarter is due to weaker development in the grocery retail market than in the same period of last year, a decrease in products manufactured on contract and the previous year’s sell-in volumes of the newly launched Tarragona bars. Higher marketing investments, above all in Norway, have also impacted profit. Price increases have been implemented during the autumn which will have an effect in the coming year,” adds Curt Petri.
On 16 December 2011 a proposal was announced for a merger between Cloetta and LEAF. For further information see www.cloetta.se
“The merger with LEAF will bring whole new opportunities for Cloetta,” says Curt Petri. Cloetta has promising and well prepared plans for product and category development during 2012. Together with LEAF’s attractive brand and product portfolio we will gain at least five complementary segments where we are market-leaders in Sweden and a firm footing in the Nordic market, which will benefit the shareholders, customers, consumers and employees alike.”
The information in this press release is subject to the disclosure requirements of Cloetta AB (publ) under the Swedish Securities Market Act. The information was submitted for publication on 19 December 2011, 01:00 p.m. CET.
For further information contact
Curt Petri, CEO, mobile 46 70-593 21 69
Kent Sandin, CFO, mobile 46 70-582 77 95
About Cloetta
Founded in 1862, Cloetta is the oldest confectionery company in the Nordic region.In 2012 Cloetta will thus celebrate its 150thanniversary. The Cloetta brand stands for responsibility and quality, but is also strongly associated with happiness, enjoyment and energy. The company’s key brands are Kexchoklad, Center, Plopp, Polly, Tarragona, Guldnougat, Bridge, Juleskum, Sportlunch and Extra Starka. Cloetta has two production units in Sweden, one in Ljungsbro and one in Alingsås.
www.cloetta.com