Company presentation

Transcription

1 Company presentation

2 2 We bring a smile to your Munchy Moments

3 This is Cloetta 3 Founded by the three Cloetta brothers in 1862 Annual sales of around SEK 5,3 billion Leading local brands in 6 countries Leading market positions in Sweden, Finland, Norway, Denmark, the Netherlands and Italy 2,500 employees in 14 countries Production at 13 factories in 6 countries Listed on Nasdaq Stockholm. The largest shareholders are Malfors Promotor, AMF Försäkring och fonder and Threadneedle Investment Funds

4 Cloetta s history 2015 Cloetta acauires Lonka Cloetta acquires Nutisal and The Jelly Bean Factory 2012 Merger between Cloetta and LEAF 2009 Cloetta Fazer is separated into Cloetta and Fazer Confectionery 2007 LEAF acquires Cadbury in Italy 2005 CVC and Nordic Capital acquire CSM, which changes name to LEAF 2001 Cloetta sells Handel business area, CSM acquires Socalbe (Italy) Cloetta merges with Fazer Confectionery, CSM acquires Continental Sweets (France, Belgium, the Netherlands and the UK) CSM acquires LEAF 1998 Cloetta acquires Candelia 1997 CSM acquires Malaco 1993 LEAF acquires Ahlgrens 1986 CSM acquires Red Band and Venco 1917 Svenska Chokladfabriks AB (Svenfelt family) takes over majority shareholding from the Cloetta family 1862 The three Cloetta brothers from Switzerland start production in Copenhagen

5 Strong local brands with long traditions

6 Cloetta has its 6 main markets in Western Europe 6 Exports to more than 50 countries worldwide Main markets countries where Cloetta has a national sales organisation. Countries where Cloetta s products are sold mainly through distributor agreements. Share of Cloetta s sales.

7 Net sales By country and by category 7

8 Nordic market leader and leading market positions 8 Country Leading market positions in the following categories SWEDEN Sugar confectionery, countlines, pastilles, chocolate bags FINLAND Pastilles, chewing gum and sugar confectionery NORWAY Pastilles and sugar confectionery DENMARK Pastilles and sugar confectionery NETHER- LANDS Pastilles, sugar confectionery and chewing gum ITALY Seasonal products, sweetener and sugar confectionery

9 9 Strong presence in the main markets Customer relations strong commercial organisation in all main markets Category expertise contributes to optimised and profitable sales Distribution a presence in many categories and channels with a complete product portfolio creates economies of scale Cloetta s main markets

10 Wide range in production technologies 10 99,500 tonnes produced in factories in six countries Technologies such as chocolate moulding mogul moulding coating wafer production extrusion hard boiled candy manufacturing toffee manufacturing compressing of pastilles nougat moulding manufacturing of sweeteners dry roasting of nuts fudge Dublin

11 Group management 11 President and CEO David Nuutinen CFO Danko Maras HR Regina Ekström CMO Erwin Segers Corporate Communications & IR Jacob Broberg Corporate Development/M&A Johnny Engman President Operations Jacqueline Hoogerbrugge Scandinavia Lars Påhlson Finland Ville Perho Middle Ewald Frénay Italy/Rest of the World Giorgio Boggero

12 Mission To bring a smile to your

13 Munchy Moments is our territory! Foto: Joakim Folke och

14 Chocolate 14 Cloetta has a leading position in Sweden with the brands Kexchoklad, Polly, Center and Plopp Strong local position in Finland with the brands Tupla, Royal, Polly and Center Popular brands in Norway are Center, Sportlunch and Bridge In the Netherlands Lonka has Sinas Snippers and Soft nougat that are consumer s favorites with a long heritage in chocolate specialties The leader in Christmas seasonal products in Italy with Sperlari

15 Sugar confectionery 15 Confectionery In Norway, Finland, Sweden and Denmark, Cloetta has harmonised its leading brand Malaco and in the Netherlands and Belgium the brand Red Band Additional strong brands include Ahlgrens bilar, Venco, Galatine, Chewits, Juleskum and The Jelly Bean Factory and Lonka The Italian brand Dietorelle was the first sugar-free candy Sweeteners Strong local position in Italy with the brand Dietor Seasonal products In Sweden the brand Juleskum has a strong local position

16 Pastilles and chewing gum 16 Pastilles The company s largest brand Läkerol is more than 100 years old Other leading brands are Mynthon, King and Saila Chewing gum Cloetta is a leader in Finland with the brand Jenkki and has a leading position in the Netherlands and Belgium with Sportlife and Xylifresh Cloetta has paved the way for the use of xylitol

17 Nuts 17 In January 2014 Cloetta acquired Nutisal, a leading Swedish producer of dry roasted nuts. The acquisition is in line with Cloetta s strategy to broaden its product portfolio within Munchy Moments. Nutisals nuts are dry roasted through the use of unique knowledge and technology. The dry roasting highlights the "true" taste of the nuts and give the products a unique crunchiness. The Swedish market accounts for about half of sales, but Nutisal is also sold in Denmark, Norway, Finland, Germany and the Benelux countries.

18 Our key strategies 18 Focus on margin expansion and volume growth Focus on cost-efficiency Focus on employee development Strong brands with local traditions. Strong position in the Nordic market. Widen and expand the product portfolio geographically. Launch and acquire new products and brands. Strategic pricing. Improve internal processes and systems. Improve cost-efficiency though the closure of factories. Implement a programme for continuous improvement. Increase breadth in production technology to create flexibility in product development. Develop Cloetta s culture based on the results of the employee survey Great Place to work. Attract, develop and retain competent employees. Develop teamwork with the help of the leadership tool Management Drives.

19 Long-term financial targets 19 Organic sales growth The long-term target is to increase organic sales at least in line with market growth. EBIT margin The target is an underlying EBIT margin of at least 14 per cent. Net debt The long-term target is a net debt /EBITDA ratio of around 2.5x. Dividend policy The long-term intention is a dividend payout of per cent of profit after tax.

20 Core values 20 Focus Passion Teamplay Pride

21 21 Vision To be the most admired satisfier of Mission To bring a smile to your

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