Operating profit for Cloetta’s first year of operations was somewhat higher than predicted in the previously issued forecast.

“Sales of Cloetta’s products rose by 6% during the financial year,” says Cloetta’s managing director and CEO Curt Petri. Thanks to this positive sales growth for Cloetta’s own products, we achieved an operating profit excluding items affecting comparability of eight million Swedish krona (€781m). The items affecting comparability are attributable to the demerger of Cloetta Fazer.” 



Net sales for the fourth quarter reached 212 million Krona (€20m), of which sales of Cloetta’s own products grew by 2%.
“Cloetta’s net sales have decreased by 40% as a result of the demerger of Cloetta Fazer. This has had a negative impact on profit, since it has not been possible in the short term to cut costs in an amount equal to the decrease in sales,” says Petri.

Earnings have also been affected by escalating raw material costs that have risen due to weakening of the Swedish krona during the year. Alongside continuous efficiency improvement measures, the company therefore announced additional price increases in the fourth quarter.