Post on 22-Mar-2018
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Company presentation
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We bring a smile to your
Munchy Moments
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This is Cloetta
• Founded by the three Cloetta brothers in 1862
• Annual sales of around SEK 5 billion
• Leading local brands in 6 countries
• Leading market positions in Sweden, Finland, Norway, Denmark, the Netherlands and Italy
• 2,500 employees in 13 countries
• Production at 11 factories in 6 countries
• Listed on Nasdaq Stockholm. The largest shareholders are Malfors Promotor, AMF – Försäkring och fonder and Lannebo Fonder
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Cloetta´s history
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Svenska Chokladfabriks AB (Svenfelt family) takes over majority shareholding from the Cloetta family
The three Cloetta brothers from Switzerland start production in Copenhagen
CSM acquires Red Band and Venco
LEAF acquires Ahlgrens
CSM acquires Malaco
Cloetta acquires Candelia
CSM acquires LEAF
Cloetta merges with Fazer Confectionery, CSM acquires Continental
Sweets (France, Belgium, the Netherlands and the UK)
Cloetta sells Handel business area, CSM acquires Socalbe (Italy)
CVC and Nordic Capital acquire CSM, which changes name to LEAF
LEAF acquires Cadbury in Italy
Cloetta Fazer is separated into Cloetta and Fazer Confectionery
Merger between Cloetta and LEAF 2012
2009
2007
2005
2001
2000
1999
1998
1997
1993
1986
1917
1862
2014 Cloetta acquires Nutisal and
The Jelly Bean Factory
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1836
1878
1909
1913
1927
1928
1934
1937
1938
1941
1949
1951
1953
1960
1965
1970
1976
1979
1981
Strong local brands
with long traditions
1836
1878
1909
1913
1927
1928
1934
1937
1938
1941
1949
1951
1953
1960
1965
1970
1976
1979
1981
1998
2007
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Cloetta has its 6 main markets in
Western Europe
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Exports to more than 50 countries
worldwide
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Net sales By country and by category
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Nordic market leader and
leading market positions
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Sugar confectionery, countlines, pastilles, chocolate bags and nuts
Pastilles, chewing gum and sugar confectionery
Sugar confectionery and pastilles
Pastilles and sugar confectionery
Sugar confectionery, chewing gum and pastilles
Seasonal products, sweetener and sugar confectionery
Country Leading market positions in the following categories
SWEDEN
NETHER-
LANDS
FINLAND
NORWAY
DENMARK
ITALY
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Strong presence in the main markets
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• 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
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Wide range in production
technologies
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• 96,500 tonnes produced in 2013
• 11 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
Dublin
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Group management
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President and CEO
Bengt Baron
Production/Purchasing
Jacqueline Hoogerbrugge
Scandinavia
Lars Påhlson
Finland
David Nuutinen
Middle
Ewald Frénay
Italy/Rest of the World
Giorgio Boggero
CFO
Danko Maras
HR
Edwin Kist
CMO
Erwin Segers
Corporate Communications & IR
Jacob Broberg
Corporate Development/M&A
Johnny Engman
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Mission
To bring a smile to your
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We do not serve the main meals, but
Munchy Moments is our territory!
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Chocolate
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• 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
• The leader in Christmas seasonal products in Italy with Sperlari
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Sugar confectionery
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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
• The Italian brand Dietorelle was the first sugar-free candy
Seasonal products and Sweeteners
• Strong local position in Italy with the brands Sperlari and Dietor
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Pastilles and chewing gum
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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
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Nuts
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• 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.
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Our key strategies
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• Strong brands with
local traditions.
• Strong position in the
Nordic market.
• Broaden and spread
the product portfolio
geographically.
• Launch and acquire
new products and
brands.
• Strategic pricing.
• Improve internal processes
and systems.
• Improve cost-efficiency.
• Continuous improvement of
production processes.
• Create a uniform
culture.
• Attract, develop and
retain competent
employees.
• Learn from each other.
Focus on
margin expansion
and
volume growth
Focus on
cost-efficiency
Focus on
employee
development
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Long-term financial targets
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• Organic sales growth The long-term target is to increase organic sales at least in line with market growth.
• Net debt The long-term target is a net debt /EBITDA ratio of around 2.5.
• EBIT margin The target is an underlying EBIT margin of at least 14 per cent.
• Dividend policy The long-term intention is a dividend payout
of 40-60 per cent of profit after tax.
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Core values
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Focus
Pride Teamplay
Passion
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Vision To be the most admired satisfier of
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Mission To bring a smile to your
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