Cloetta (CLA) Investor Presentation summary

Leadership and company profile

• New President and CEO with over 20 years of FMCG experience, including executive roles at Kraft Heinz and Findus, and board experience in Swedish industry organizations.

• Operates in over 60 countries with net sales of SEK 8.3bn in 2023 and more than 40,000 shareholders.

• Employs around 2,600 people and holds leading market positions in Northern Europe, especially in Sweden and Finland.

Market position and business segments

• Over 80% of net sales come from the five largest countries, with Sweden and Finland accounting for over half.

• Branded packaged products represent 74% of sales, while Pick & mix accounts for 26%.

• Holds top market positions in candy, chocolate, and pastilles in core markets.

Financial performance and targets

• Long-term targets include 1-2% organic growth, adjusted EBIT margin of at least 14%, net debt/EBITDA around 2.5x, and a dividend payout ratio of 40-60%.

• Q2 2024 net sales reached SEK 2.0bn with 1.8% organic growth; Pick & mix grew 3.4% organically.

• Adjusted operating profit improved due to pricing and margin initiatives, with net debt/EBITDA at a record low of 1.8x.

• Free cash flow YTD improved by SEK 148m versus last year, highest since 2017.