Cash flow Cloetta AB

Equities

CLA B

SE0002626861

Food Processing

Market Closed - Nasdaq Stockholm Other stock markets 20:00:00 23/01/2026 +03			5-day change	1st Jan Change
42.96 ^SEK	+0.51%		-0.23%	+6.18%

01-16	Nine Stocks Reach New 52-Week Highs on the Stockholm Stock Exchange Today	FW
01-16	Handelsbanken Raises Target Price for Cloetta and Reiterates Buy Rating – Sees Potential for Upward Target Revisions	FW

4287a6d0a3b05d5ceda095.9dxvNIc9tydNXMxzQX3olXYIfKAqqrgpF-pLsJajIVY.qvE4bsxy1BQ9P7kkOy6e_EF6NP9E6dp9RLMU17vhZSyipQd-7F7-FRcxhQ

Published financial data: CLOETTA AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	5.7B	6.05B	6.87B	8.3B	8.61B
Total Revenues	5.7B	6.05B	6.87B	8.3B	8.61B
Cost of Goods Sold, Total	3.7B	3.9B	4.74B	5.7B	5.77B
Gross Profit	2B	2.15B	2.13B	2.6B	2.84B
Selling General & Admin Expenses, Total	1.49B	1.58B	1.67B	1.81B	1.94B
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	1.49B	1.58B	1.67B	1.81B	1.94B
Operating Income	510M	567M	462M	790M	901M
Interest Expense, Total	-33M	-29M	11M	-191M	-173M
Net Interest Expenses	-33M	-29M	11M	-191M	-173M
Currency Exchange Gains (Loss)	-10M	33M	-143M	-43M	-35M
Other Non Operating Income (Expenses)	-9M	-6M	13M	78M	69M
EBT, Excl. Unusual Items	458M	565M	343M	634M	762M
Restructuring Charges	-11M	-	-	-	-
Merger & Related Restructuring Charges	-	-	-	-64M	-
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-2M	-1M	-	-	-
Other Unusual Items	-42M	-6M	-	-	-103M
EBT, Incl. Unusual Items	403M	558M	343M	570M	659M
Income Tax Expense	122M	86M	68M	133M	182M
Earnings From Continuing Operations	281M	472M	275M	437M	477M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	281M	472M	275M	437M	477M
Net Income - (IS)	281M	472M	275M	437M	477M
Net Income to Common Incl Extra Items	281M	472M	275M	437M	477M
Net Income to Common Excl. Extra Items	281M	472M	275M	437M	477M
Per Share Items
Net EPS - Basic	0.98	1.64	0.96	1.53	1.67
Basic EPS - Continuing Operations	0.98	1.64	0.96	1.53	1.67
Basic Weighted Average Shares Outstanding	287M	287M	287M	285M	286M
Net EPS - Diluted	0.98	1.64	0.96	1.53	1.67
Diluted EPS - Continuing Operations	0.98	1.64	0.96	1.53	1.67
Diluted Weighted Average Shares Outstanding	287M	288M	287M	286M	286M
Normalized Basic EPS	1	1.23	0.75	1.39	1.67
Normalized Diluted EPS	1	1.23	0.75	1.39	1.67
Dividend Per Share	0.75	1	1	1	1.1
Payout Ratio	50.89	45.55	104.36	65.22	59.75
Supplemental Items
EBITDA	695M	743M	645M	987M	1.1B
EBITA	520M	577M	473M	801M	913M
EBIT	510M	567M	462M	790M	901M
EBITDAR	721M	767M	672M	1.02B	1.13B
Effective Tax Rate - (Ratio)	30.27	15.41	19.82	23.33	27.62
Total Current Taxes	69M	81M	130M	84M	226M
Total Deferred Taxes	53M	5M	-62M	49M	-44M
Normalized Net Income	286M	353M	214M	396M	476M
Interest on Long-Term Debt	5M	5M	5M	9M	10M
Non-Cash Pension Expense	19M	16M	4M	9M	9M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	939M	938M	1.01B	1.07B	1.16B
General and Administrative Expenses	542M	638M	656M	725M	774M
Research And Development Expense From Footnotes	26M	31M	32M	37M	57M
Net Rental Expense, Total	26M	24M	27M	34M	35M
Imputed Operating Lease Interest Expense	2.54M	2.27M	-979K	20.88M	19.18M
Imputed Operating Lease Depreciation	23.46M	21.73M	27.98M	13.12M	15.82M
Maintenance & Repair Expenses, Total	126M	114M	132M	156M	162M
Stock-Based Comp., Other (Total)	3M	-7M	15M	23M	21M
Total Stock-Based Compensation	3M	-7M	15M	23M	21M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	396M	692M	583M	658M	953M
Trading Asset Securities, Total	-	1M	34M	18M	4M
Total Cash And Short Term Investments	396M	693M	617M	676M	957M
Accounts Receivable, Total	646M	708M	919M	979M	1.05B
Other Receivables	86M	69M	110M	105M	161M
Total Receivables	732M	777M	1.03B	1.08B	1.21B
Inventory	952M	843M	1.09B	1.29B	1.34B
Prepaid Expenses	27M	28M	42M	52M	52M
Other Current Assets, Total	4M	1M	3M	-	1M
Total Current Assets	2.11B	2.34B	2.78B	3.1B	3.55B
Gross Property Plant And Equipment	5.04B	5.23B	5.79B	5.92B	5.84B
Accumulated Depreciation	-3.48B	-3.65B	-4.21B	-4.23B	-4.14B
Net Property Plant And Equipment	1.56B	1.58B	1.58B	1.69B	1.7B
Long-term Investments	-	2M	25M	5M	1M
Goodwill	2.35B	2.39B	2.57B	2.56B	2.64B
Other Intangibles, Total	3.22B	3.19B	3.31B	3.3B	3.2B
Deferred Tax Assets Long-Term	20M	42M	43M	23M	59M
Other Long-Term Assets, Total	3M	5M	3M	3M	4M
Total Assets	9.26B	9.55B	10.32B	10.68B	11.14B
Liabilities
Accounts Payable, Total	474M	520M	581M	717M	648M
Accrued Expenses, Total	632M	743M	834M	868M	918M
Short-term Borrowings	250M	147M	146M	146M	147M
Current Portion of Long-Term Debt	2.11B	-	-	1M	45M
Current Portion of Leases	64M	59M	61M	74M	56M
Current Income Taxes Payable	23M	26M	77M	51M	118M
Other Current Liabilities	62M	9M	10M	14M	18M
Total Current Liabilities	3.61B	1.5B	1.71B	1.87B	1.95B
Long-Term Debt	-1M	2.08B	2.18B	2.19B	2.23B
Long-Term Leases	112M	84M	95M	85M	80M
Pension & Other Post Retirement Benefits	512M	505M	345M	382M	378M
Deferred Tax Liability Non Current	837M	863M	884M	900M	910M
Other Non Current Liabilities	5M	-	107M	160M	163M
Total Liabilities	5.08B	5.03B	5.32B	5.58B	5.71B
Common Stock, Total	1.44B	1.44B	1.44B	1.44B	1.44B
Additional Paid In Capital	4.12B	4.12B	4.12B	4.12B	4.12B
Retained Earnings	-1.93B	-1.67B	-1.65B	-1.51B	-1.4B
Treasury Stock	-	-44M	-78M	-79M	-59M
Comprehensive Income and Other	540M	661M	1.16B	1.12B	1.32B
Total Common Equity	4.18B	4.52B	4.99B	5.1B	5.43B
Total Equity	4.18B	4.52B	4.99B	5.1B	5.43B
Total Liabilities And Equity	9.26B	9.55B	10.32B	10.68B	11.14B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	289M	287M	285M	285M	286M
ECS Total Common Shares Outstanding	289M	287M	285M	285M	286M
Book Value / Share	14.48	15.73	17.5	17.87	19
Tangible Book Value	-1.38B	-1.07B	-889M	-764M	-399M
Tangible Book Value Per Share	-4.8	-3.72	-3.11	-2.68	-1.39
Total Debt	2.53B	2.37B	2.48B	2.49B	2.56B
Net Debt	2.14B	1.68B	1.87B	1.82B	1.6B
Debt Equivalent of Unfunded Proj. Benefit Obligation	511M	502M	333M	372M	374M
Debt Equivalent Oper. Leases	208M	192M	216M	272M	280M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	286M	299M	386M	378M	453M
Inventories - Work In Process, Total	60M	59M	63M	90M	78M
Inventories - Finished Goods, Total	606M	485M	641M	824M	805M
Land - (BS)	856M	897M	978M	1B	1.04B
Machinery, Total	3.78B	3.94B	4.28B	4.32B	4.32B
Full Time Employees	2.52K	2.51K	2.53K	2.52K	2.68K
Accumulated Allowance for Doubtful Accounts (Supple)	4M	2M	5M	24M	1M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	281M	472M	275M	437M	477M
Depreciation & Amortization - CF	248M	234M	248M	344M	272M
Amortization of Goodwill and Intangible Assets - (CF)	10M	10M	11M	11M	12M
Depreciation & Amortization, Total	258M	244M	259M	355M	284M
Amortization of Deferred Charges, Total - (CF)	17M	16M	3M	2M	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	13M	1M	136M	-17M	60M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	49M	-58M	149M	101M	140M
Change In Accounts Receivable	184M	-44M	-201M	-63M	-131M
Change In Inventories	-90M	123M	-197M	-212M	-1M
Change In Accounts Payable	-56M	104M	95M	175M	-64M
Cash from Operations	656M	858M	519M	778M	765M
Capital Expenditure	-267M	-193M	-212M	-280M	-162M
Sale of Property, Plant, and Equipment	1M	3M	1M	2M	72M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-23M	-1M	-2M	-2M	-1M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-289M	-191M	-213M	-280M	-91M
Short Term Debt Issued, Total	798M	750M	597M	593M	594M
Long-Term Debt Issued, Total	310M	-	-	-	-
Total Debt Issued	1.11B	750M	597M	593M	594M
Short Term Debt Repaid, Total	-1.05B	-849M	-598M	-594M	-593M
Long-Term Debt Repaid, Total	-377M	-69M	-75M	-88M	-79M
Total Debt Repaid	-1.42B	-918M	-673M	-682M	-672M
Repurchase of Common Stock	-	-44M	-34M	-1M	-
Common Dividends Paid	-143M	-215M	-287M	-285M	-285M
Common & Preferred Stock Dividends Paid	-143M	-215M	-287M	-285M	-285M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-17M	-9M	-9M	-4M	-4M
Cash from Financing	-476M	-436M	-406M	-379M	-367M
Foreign Exchange Rate Adjustments	-74M	65M	-9M	-44M	-12M
Net Change in Cash	-183M	296M	-109M	75M	295M
Supplemental Items
Cash Interest Paid	35M	35M	54M	187M	187M
Cash Income Tax Paid (Refund)	114M	90M	104M	134M	99M
Levered Free Cash Flow	308M	573M	47.62M	356M	481M
Unlevered Free Cash Flow	329M	591M	40.75M	476M	589M
Change In Net Working Capital	-22M	-178M	311M	116M	116M
Net Debt Issued / Repaid	-316M	-168M	-76M	-89M	-78M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.37	3.77	2.91	4.7	5.16
Return on Total Capital	4.62	5.22	4.02	6.55	7.23
Return On Equity %	6.71	10.89	5.78	8.66	9.06
Return on Common Equity	6.71	10.89	5.78	8.66	9.06
Margin Analysis
Gross Profit Margin %	35.08	35.53	31.02	31.3	32.98
SG&A Margin	26.13	26.15	24.3	21.78	22.52
EBITDA Margin %	12.2	12.29	9.39	11.89	12.76
EBITA Margin %	9.13	9.54	6.89	9.65	10.6
EBIT Margin %	8.96	9.38	6.73	9.52	10.46
Income From Continuing Operations Margin %	4.93	7.81	4	5.26	5.54
Net Income Margin %	4.93	7.81	4	5.26	5.54
Net Avail. For Common Margin %	4.93	7.81	4	5.26	5.54
Normalized Net Income Margin	5.03	5.84	3.12	4.77	5.53
Levered Free Cash Flow Margin	5.41	9.48	0.69	4.29	5.58
Unlevered Free Cash Flow Margin	5.77	9.78	0.59	5.73	6.84
Asset Turnover
Asset Turnover	0.6	0.64	0.69	0.79	0.79
Fixed Assets Turnover	3.65	3.86	4.35	5.08	5.09
Receivables Turnover (Average Receivables)	7.75	8.93	8.44	8.75	8.51
Inventory Turnover (Average Inventory)	4.01	4.34	4.9	4.79	4.39
Short Term Liquidity
Current Ratio	0.58	1.56	1.63	1.66	1.82
Quick Ratio	0.31	0.98	0.96	0.94	1.11
Operating Cash Flow to Current Liabilities	0.18	0.57	0.3	0.42	0.39
Days Sales Outstanding (Average Receivables)	47.2	40.87	43.23	41.73	43.02
Days Outstanding Inventory (Average Inventory)	91.33	84.04	74.46	76.23	83.32
Average Days Payable Outstanding	47.07	47.88	40.31	40.12	42.95
Cash Conversion Cycle (Average Days)	91.46	77.03	77.38	77.84	83.4
Long Term Solvency
Total Debt/Equity	60.61	52.45	49.74	48.9	47.07
Total Debt / Total Capital	37.74	34.4	33.22	32.84	32.01
LT Debt/Equity	2.66	47.88	45.59	44.57	42.51
Long-Term Debt / Total Capital	1.65	31.41	30.45	29.93	28.9
Total Liabilities / Total Assets	54.86	52.72	51.59	52.28	51.24
EBIT / Interest Expense	15.45	19.55	-42	4.14	5.21
EBITDA / Interest Expense	23.27	27.97	-65.55	5.99	6.85
(EBITDA - Capex) / Interest Expense	15.18	21.31	-46.27	4.53	5.91
Total Debt / EBITDA	3.3	2.92	3.45	2.18	2.16
Net Debt / EBITDA	2.78	2.07	2.59	1.59	1.35
Total Debt / (EBITDA - Capex)	5.06	3.83	4.88	2.88	2.5
Net Debt / (EBITDA - Capex)	4.27	2.71	3.67	2.1	1.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-12.29	6.16	13.61	20.85	3.76
Gross Profit, 1 Yr. Growth %	-16.09	7.62	-0.75	10.98	9.35
EBITDA, 1 Yr. Growth %	-25.03	10.07	-13.07	13.45	11.12
EBITA, 1 Yr. Growth %	-30.2	15.4	-17.88	14.76	13.7
EBIT, 1 Yr. Growth %	-30.52	15.71	-18.37	14.99	14.05
Earnings From Cont. Operations, 1 Yr. Growth %	-43.57	78.11	-41.74	58.91	9.15
Net Income, 1 Yr. Growth %	-43.57	78.11	-41.74	58.91	9.15
Normalized Net Income, 1 Yr. Growth %	-31.23	29	-39.18	11.62	20.19
Diluted EPS Before Extra, 1 Yr. Growth %	-43.61	78.26	-41.53	59.57	9.13
Accounts Receivable, 1 Yr. Growth %	-21.51	9.6	29.8	6.53	6.84
Inventory, 1 Yr. Growth %	6.61	-11.45	29.3	18.53	3.41
Net Property, Plant and Equip., 1 Yr. Growth %	0.06	1.03	0.32	6.64	0.53
Total Assets, 1 Yr. Growth %	-4.17	3.48	8.03	3.56	4.32
Tangible Book Value, 1 Yr. Growth %	-6.93	-22.51	-16.68	-14.06	-47.77
Common Equity, 1 Yr. Growth %	-0.43	8.72	10.61	2.08	6.59
Cash From Operations, 1 Yr. Growth %	-9.39	33.85	-39.51	49.9	-1.67
Capital Expenditures, 1 Yr. Growth %	59.88	-27.72	9.84	32.08	-42.14
Levered Free Cash Flow, 1 Yr. Growth %	27.39	84.55	-91.68	22.78	63.4
Unlevered Free Cash Flow, 1 Yr. Growth %	24.64	78.53	-93.1	67.89	42.39
Dividend Per Share, 1 Yr. Growth %	50	33.33	0	0	10
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.3	-3.5	9.82	17.17	11.98
Gross Profit, 2 Yr. CAGR %	-6.41	-5.02	3.33	10	10.16
EBITDA, 2 Yr. CAGR %	-10.26	-10.47	-2.25	15.33	12.39
EBITA, 2 Yr. CAGR %	-12.49	-11.99	-2.74	17.92	14.37
EBIT, 2 Yr. CAGR %	-12.56	-12.11	-2.9	18.14	14.52
Earnings From Cont. Operations, 2 Yr. CAGR %	-23.73	-2.65	1.87	-3.78	31.7
Net Income, 2 Yr. CAGR %	-23.73	-2.65	1.87	-3.78	31.7
Normalized Net Income, 2 Yr. CAGR %	-11.06	-7.89	-11.51	6.02	15.83
Diluted EPS Before Extra, 2 Yr. CAGR %	-23.62	-2.85	2.09	-3.41	31.96
Accounts Receivable, 2 Yr. CAGR %	-6.88	-7.25	19.27	17.59	6.69
Inventory, 2 Yr. CAGR %	11.05	-2.84	7	23.8	10.71
Net Property, Plant and Equip., 2 Yr. CAGR %	7.34	0.54	0.67	3.43	3.54
Total Assets, 2 Yr. CAGR %	0.48	-0.58	5.73	5.77	3.94
Tangible Book Value, 2 Yr. CAGR %	-8.64	-15.29	-19.65	-15.38	-33.01
Common Equity, 2 Yr. CAGR %	2.62	3.72	9.66	6.26	4.31
Cash From Operations, 2 Yr. CAGR %	2.2	8.86	-10.02	-4.78	21.41
Capital Expenditures, 2 Yr. CAGR %	28.78	7.5	-10.89	20.45	-12.58
Levered Free Cash Flow, 2 Yr. CAGR %	-12.08	53.95	-60.84	-21.11	28.73
Unlevered Free Cash Flow, 2 Yr. CAGR %	-13.55	49.74	-64.93	-10.26	44.19
Dividend Per Share, 2 Yr. CAGR %	-13.4	41.42	15.47	0	4.88
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-0.52	-0.93	1.89	13.38	12.52
Gross Profit, 3 Yr. CAGR %	-2.34	-1.98	-3.63	9.18	9.79
EBITDA, 3 Yr. CAGR %	-4.18	-4.87	-11.39	13.5	13.99
EBITA, 3 Yr. CAGR %	-4.87	-5.28	-14.05	17.01	16.6
EBIT, 3 Yr. CAGR %	-4.9	-5.27	-14.3	17.26	16.76
Earnings From Cont. Operations, 3 Yr. CAGR %	5.84	-0.76	-17.96	18.14	0.35
Net Income, 3 Yr. CAGR %	42.55	-0.76	-17.96	18.14	0.35
Normalized Net Income, 3 Yr. CAGR %	-4.14	-0.81	-19.84	13.12	10.55
Diluted EPS Before Extra, 3 Yr. CAGR %	5.79	-0.8	-17.98	18.48	0.6
Accounts Receivable, 3 Yr. CAGR %	-4.34	-1.68	3.75	14.86	13.89
Inventory, 3 Yr. CAGR %	8.52	2.98	6.87	10.72	16.59
Net Property, Plant and Equip., 3 Yr. CAGR %	5.25	5.19	0.47	2.62	2.46
Total Assets, 3 Yr. CAGR %	0.02	1.37	2.21	5	5.29
Tangible Book Value, 3 Yr. CAGR %	-6.11	-13.66	-15.76	-17.83	-27.96
Common Equity, 3 Yr. CAGR %	3.06	4.4	5.97	7.07	6.37
Cash From Operations, 3 Yr. CAGR %	-2.69	10.96	-10.5	6.67	-3.75
Capital Expenditures, 3 Yr. CAGR %	25.22	6.23	8.28	1.6	-5.67
Levered Free Cash Flow, 3 Yr. CAGR %	-25.25	12.87	-41.82	4.69	-5.65
Unlevered Free Cash Flow, 3 Yr. CAGR %	-24.62	10.37	-46.34	12.83	-0.09
Dividend Per Share, 3 Yr. CAGR %	0	0	25.99	10.06	3.23
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.07	3.43	3.5	5.95	5.81
Gross Profit, 5 Yr. CAGR %	-2.2	1.06	-0.13	2.64	3.6
EBITDA, 5 Yr. CAGR %	-4.39	-2.9	-3.97	2.72	3.46
EBITA, 5 Yr. CAGR %	-5.03	-3.49	-4.77	3.36	4.15
EBIT, 5 Yr. CAGR %	-5.28	-3.68	-4.87	3.44	4.19
Earnings From Cont. Operations, 5 Yr. CAGR %	-6.15	6.35	3.02	-1.98	-0.86
Net Income, 5 Yr. CAGR %	-6.15	19.83	23.17	-1.98	-0.86
Normalized Net Income, 5 Yr. CAGR %	-2.05	0.21	-7.99	1.83	2.73
Diluted EPS Before Extra, 5 Yr. CAGR %	-6.18	6.27	2.98	-1.85	-0.8
Accounts Receivable, 5 Yr. CAGR %	-6.19	-4.79	4.48	5.61	4.91
Inventory, 5 Yr. CAGR %	3.91	1.57	7.91	10.85	8.39
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.68	-1.5	3.39	4.48	1.69
Total Assets, 5 Yr. CAGR %	-1.05	0.67	2.2	3.11	2.9
Tangible Book Value, 5 Yr. CAGR %	-2.91	-1.57	-11.87	-14.36	-23.13
Common Equity, 5 Yr. CAGR %	-0.77	1.46	5.52	5.14	5.3
Cash From Operations, 5 Yr. CAGR %	-6.68	-0.71	-6.13	4.38	1.11
Capital Expenditures, 5 Yr. CAGR %	14.11	4.48	9.28	11.7	-0.61
Levered Free Cash Flow, 5 Yr. CAGR %	-14.69	10.79	-42.19	-2.22	14.74
Unlevered Free Cash Flow, 5 Yr. CAGR %	-15.72	7.68	-44.41	1.58	17.44
Dividend Per Share, 5 Yr. CAGR %	8.45	5.92	5.92	0	17.08