Cloetta Fazer's best year ever
The Cloetta Fazer Group's profit after net financial items for the year 2001 increased to MSEK 550 (341). The sale of Business Area Handel affected profit in an amount of MSEK 170. Operating profit excluding Handel amounted to MSEK 372 (302), providing an operating margin of 12.4 per cent (10.0).
"Synergies resulting from the merger between Cloetta and Fazer Konfektyr are the main factor behind the year's earnings growth. We have also achieved a positive sales trend in Finland and higher efficiency in the production plants", says Cloetta Fazer's CEO Lennart Bohlin.
"Cloetta Fazer's profit for 2001 is the best ever in the company's history. This, in combination with the sale of Business Area Handel, has given the Group an exceptionally strong financial position. Cloetta Fazer is thus well poised for further expansion, both organically and through acquisitions."
Sales in the remaining operations amounted to MSEK 3,001 (3,007) and operating profit, excluding items affecting comparability, improved by 23 per cent to MSEK 372 (302).
Of the total sales volume, the Swedish market accounted for 34 per cent, the Finnish market for 28 per cent and the third largest market, Poland, for 11 per cent.
"Rationalisation measures and a more profitable product range boosted profit in the Polish operations, which now report an operating profit. For the future, we have a number of interesting markets in the former east-bloc countries which offer favourable prospects for development. We also see growth potential for some of our key brands in the other Nordic countries, where our current market share is comparatively low", adds Lennart Bohlin.
The sale of Business Area Handel during the autumn was a step in Cloetta Fazer's strategy to focus resources on core activities in confectionery, and thereby reinforce its position as the Nordic region's leading chocolate and confectionery company.
Net profit doubled to MSEK 427 (214). The Board proposes a raised dividend SEK 4.00 (3.75) and a bonus dividend of SEK 1.00 (-), i.e. a total of SEK 5.00 (3.75) per share.