Cloetta reports Q4 net sales of 1.44B Swedish kronor, up 2.6% from year-ago period; operating profit up 113.4% to 175M kronor

Nevin Barich

STOCKHOLM , February 14, 2014 (press release) – Cloetta AB (STO:CLAB)

· Net sales for the quarter increased by 2.6 per cent to SEK 1,441m (1,404) including a positive impact from foreign exchange rates of 1.0 per cent.

· Operating profit was SEK 175m (82).

· Underlying EBIT improved to SEK 231m (200).

· Items affecting comparability amounted to SEK –56m (–118) and consist mainly of costs related to factory restructurings.

· Cash flow from operating activities was SEK 116m (147).

· The factory restructurings are proceeding according to plan. The production in Gävle, Sweden, was terminated at year end.

· Net debt/underlying EBITDA was 4.2x (5.1). In the quarter, SEK 68m of the debt was amortised.

· No dividend payout proposed in line with the financial strategy to reduce net debt to approximately 2.5x EBITDA.

· On 8 January 2014, Cloetta completed the acquisition of Alrifai Nutisal AB. The acquisition is in line with Cloetta’s strategy to broaden its product portfolio within Munchy Moments.

About Cloetta

Cloetta, founded in 1862, is a leading confectionery company in the Nordic region, the Netherlands, and Italy. In total, Cloetta products are sold in more than 50 countries worldwide. Cloetta owns some of the strongest brands on the market, such as Läkerol, Cloetta, Jenkki, Kexchoklad, Malaco, Sportlife, Saila, Red Band and Sperlari. Cloetta has 10 production units in five countries. Cloetta’s class B-shares are traded on NASDAQ OMX Stockholm. More information about Cloetta is available on www.cloetta.com

© 2024 Business Wire, Inc., All rights reserved.