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Cloetta (CLA) investor relations material
Cloetta Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong quarterly growth and improved profitability, with organic sales up 6.5% and adjusted operating margin at 11.5% in Q2 2025, supported by brand investments and a broad portfolio.
Strategic priorities include expanding Superbrands, growth in Germany, UK, and North America, and enhanced marketing and innovation.
Operations span 11 countries with SEK 8.6 billion in sales and a 10.6% operating margin in 2024.
Resilience attributed to non-cyclical market, strong brands, and focus on Northern Europe.
New Chief Operations Officer appointed, effective September 2025.
Financial highlights
Q2 2025 net sales reached SEK 2.1bn, with organic growth of 6.5% year-over-year; Pick & mix segment up 21.3%, Branded packaged up 1.0%.
Adjusted operating profit margin improved to 11.5% in Q2 2025, up from 10.9% in Q2 2024.
Free cash flow year-to-date at SEK 191 million, up 50% year-over-year.
Net debt/EBITDA at 1.4x, the lowest ever for a dividend-paying quarter.
Gross margin for Q2 2025 at 34.8%.
Outlook and guidance
Organic growth for H2 2025 expected to be close to the new long-term target of 3–4%.
Long-term adjusted EBIT target remains at 14%, with a minimum of 12% by 2027.
Up to 20% of annualised savings from restructuring (SEK 60–70m) anticipated in H2 2025, with full effect in Q1 2026.
Refinancing of loans progressing, expected to be finalized in H2 2025.
Dividend policy updated to a minimum 50% payout of profit after taxes.
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