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Cloetta AB (CLOEb.ST)

CLOEb.ST on Stockholm Stock Exchange

27.20SEK
11:02am EST
Change (% chg)

-0.20kr (-0.73%)
Prev Close
27.40kr
Open
27.40kr
Day's High
27.40kr
Day's Low
27.10kr
Volume
114,352
Avg. Vol
597,820
52-wk High
38.80kr
52-wk Low
26.00kr

Latest Key Developments (Source: Significant Developments)

Cloetta's new line at factory in Turnhout expected to be operational in Q2 2018​​
Wednesday, 25 Oct 2017 02:27am EDT 

Oct 25 (Reuters) - CLOETTA AB ::‍DAMAGED LINE AT FACTORY IN TURNHOUT WILL BE REPLACED BY A NEW LINE EXPECTED TO BE OPERATIONAL IN Q2 2018​.SAYS ‍ESTIMATED SYNERGY SAVINGS FROM CANDYKING OF SEK 100M ON AN ANNUAL BASIS FROM 2020 STANDS FIRM.‍SAVING INITIATIVES WILL BE IMPLEMENTED IN 2018 AND ARE EXPECTED TO GIVE FULL SAVINGS IN 2019.  Full Article

Cloetta says ‍Q3 operating profit fell to SEK 169 mln ​
Wednesday, 25 Oct 2017 02:00am EDT 

Oct 25 (Reuters) - Cloetta Ab says::Net sales for Q3 increased by 17.1 pct to SEK 1,505m (1,285)​.Q3 operating profit amounted to SEK 169m (195).​.Q3 cash flow from operating activities amounted to SEK 135m (116)​.Q3 net debt/ebitda ratio was 2.63 (2.76)​.  Full Article

Cloetta's EBIT to be negatively impacted by short-term issues in Q3
Thursday, 14 Sep 2017 07:15am EDT 

Sept 14 (Reuters) - Cloetta AB says::EBIT to be negatively impacted by mainly short-term issues..Operating profit, adjusted, is in Q3 expected to be SEK 40 - 50 million lower compared to last year..‍This is mainly due to lower volumes but also higher raw material cost and negative exchange rate differences..Also, the damages due to fire in one of the production lines in the factory in Turnhout, Belgium, has proven to be bigger than initially expected, resulting in production capacity constraints and significantly lower produced volumes. .  Full Article

Cloetta completes divestment of its Italian operations
Tuesday, 5 Sep 2017 08:00am EDT 

Sept 5 (Reuters) - CLOETTA AB :CLOETTA HAS COMPLETED THE DIVESTMENT OF ITS ITALIAN OPERATIONS.PROCEEDS WILL GENERATE A POSITIVE NET CASH EFFECT OF SEK 415M DURING 2017.  Full Article

Cloetta Q2 operating profit SEK ‍90​ million, below expectations
Thursday, 13 Jul 2017 02:00am EDT 

July 13 (Reuters) - CLOETTA AB ::Q2 OPERATING PROFIT SEK ‍90​ MILLION (REUTERS POLL: SEK 144 MILLION).Q2 OPERATING PROFIT ADJUSTED FOR ITEMS AFFECTING COMPARABILITY, AMOUNTED TO SEK 115M (156)​.Q2 NET SALES SEK 1.41 BILLION (REUTERS POLL: SEK 1.57 BILLION).SAYS THE CLOETTA GROUP’S TARGET OF AN UNDERLYING EBIT MARGIN OF 14 PER CENT STANDS FIRM.  Full Article

Cloetta to divest its Italian operations
Thursday, 6 Jul 2017 02:30am EDT 

July 6 (Reuters) - CLOETTA AB :CLOETTA TO DIVEST ITS ITALIAN OPERATIONS.CLOETTA AB SAYS SALE EQUALS AN ENTERPRISE VALUE (EV) OF APPROXIMATELY SEK 450M. PROCEEDS WILL GENERATE A POSITIVE NET CASH EFFECT OF APPROXIMATELY SEK 415M..‍DIVESTMENT WILL RESULT IN AN IMPAIRMENT ESTIMATED TO APPROXIMATELY SEK 365M BEFORE TAX THAT WILL BE REPORTED IN Q2 OF 2017.​.TRANSACTION IS NOT SUBJECT TO REGULATORY APPROVALS AND IS EXPECTED TO CLOSE IN Q3 OF 2017.‍TRANSACTION IS EXPECTED TO CLOSE IN Q3 OF 2017.​.  Full Article

Cloetta Q1 core profit lags forecast
Friday, 21 Apr 2017 02:00am EDT 

April 21 (Reuters) - Cloetta AB :Q1 net sales for quarter declined by 0.8 per cent to SEK 1,347m (1,358) including a positive impact from foreign exchange rates of 1.2 per cent..Q1 operating profit amounted to SEK 93m (108). Profit for period amounted to SEK 59m (44)..Q1 operating profit, adjusted for items affecting comparability, amounted to SEK 110m (126)..Reuters poll: cloetta Q1 adjusted operating profit was seen at 128 million SEK, net sales at 1,377 million.  Full Article

Confectionary firm Cloetta says buys Candyking
Friday, 17 Feb 2017 07:30am EST 

Cloetta Ab : Cloetta acquires Candyking . Says Candyking's total sales (including danish tax) amounted to approx. SEK 1,300m on a rolling twelve month basis per Q3 of 2016 . Says underlying EBITDA was approx. SEK 70m and underlying EBIT approx. SEK 30m. . Says acquisition is expected to create substantial synergies that will gradually be realized during years 2017 - 2020 . Says final outcome of synergies is dependent on volume development . Says initial purchase price amounts to SEK 325m on a cash and debt free basis with a potential additional purchase price of maximum SEK 225m . Says Cloetta group's target of an underlying EBIT margin of 14 percent stands firm . Says majority of initial purchase price and potential additional purchase price will be allocated to holders of Candyking's SEK 750m bond loan .Says in connection with closing of acquisition, Candyking's bonds will be delisted from Nasdaq Stockholm.  Full Article

Cloetta says eyes potential divestment of Italian business
Wednesday, 18 Jan 2017 06:30am EST 

Cloetta Ab : Strategic review and impairment of cloetta italy . Says as a consequence of this an indicative valuation of cloetta italy shows an impairment requirement of SEK 771m pre-tax and SEK 594m post-tax attributable to cloetta italy . Says strategic review of cloetta italy is aimed to improve growth and margins of cloetta group and might include a potential divestment of italian business . In 2016, Cloetta's sales in Italy amounted to approximately SEK 750m .A divestment of Cloetta Italy would improve Cloetta's EBIT margin.  Full Article

Cloetta says CEO David Nuutinen to step down
Wednesday, 24 Aug 2016 02:00am EDT 

Cloetta AB : David Nuutinen steps down as CEO - search for new ceo initiated . Nuutinen had been CEO for 13 months . Says decision due to private reasons . Says Danko Maras, CFO, will assume position as interim president and CEO .Says David Nuutinen will be available to support the Board and the management team during his term of notice of six months.  Full Article

BRIEF-Cloetta's new line at factory in Turnhout expected to be operational in Q2 2018​​

* ‍DAMAGED LINE AT FACTORY IN TURNHOUT WILL BE REPLACED BY A NEW LINE EXPECTED TO BE OPERATIONAL IN Q2 2018​