STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Candyking Holding AB (STO:CANDY):
· Volume increased by 22.6 % in the second quarter, which is explained by the fact that Easter in 2013 fell in the first quarter whereas it fell in the second quarter this year
· Net sales increased by 24.7 % to MSEK 460.0 (368.8). Measured in constant currency the increase was 21.0 %
· The underlying EBIT amounted to MSEK 19.3 (3.7), an increase mainly explained by the timing of Easter
· The quarter was affected by increased cost of goods sold primarily driven by adverse currency fluctuations
First six months
· Volume increased by 3.7 % in the first six months, which is explained by strong Easter sales in Norway and new customers in Denmark and Poland
· Net sales increased by 4.8 % to MSEK 904.7 (863.3). Measured in constant currency the increase was 3.1%
· The underlying EBIT amounted to MSEK 29.2 (46.0), a decrease primarily explained by increased cost of goods sold, mainly as a consequence of adverse currency fluctuations
”We have had a continued positive development in Denmark and Poland during the second quarter, due to new customers, but also increased sales to existing customers. Candyking also had successful Easter sales in Norway, which had positive effect on EBIT. The market situation is very competitive on our main market Sweden and gross margin have declined, largely as an effect of a strong Euro affecting the cost of goods sold negatively. Customer price increases have been made during the second and third quarters to mitigate this.” says Fredrik von Oelreich, President & CEO.
This information was made public on the 29th of August 2014, at 08.00.
Candyking was founded in 1984 and is the leading supplier of pick & mix in the Nordic region, the UK & Ireland and Poland. Candyking currently has more than 10,000 retail outlets and offers stores a turnkey concept that includes products, displays and accompanying store and logistic services. Candyking’s confectionery concept and brands are Candyking, Karamellkungen, Premiyum and Candyking Favourites. In addition, Candyking is the leading pick & mix supplier of natural snacks in Sweden and Finland under the Parrot’s brand. In 2013, the company had about 1,000 employees and sales of about SEK 1.8 billion. More information is available at www.candyking.com
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