STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Candyking AB (STO:CANDY):
· Volume decreased by 16.1 % in the fourth quarter, primarily explained by lost customer contracts in Sweden.
· Net sales decreased by 11.4 % to MSEK 397.0 (448.0). Measured in constant currency the decrease was 11.5 %.
· The underlying EBIT amounted to MSEK 18.8 (21.5).
· Decreasing sales in Sweden was partly compensated by continued positive development in Norway and Denmark.
· Cash flow from operating activities decreased to MSEK 39.6 (78.6).
Full year 2015
· Volume decreased by 19.0% as a result of lost accounts in Sweden and Finland.
· Net sales decreased by 13.7 % to MSEK 1,525.7 (1,768.6). Measured in constant currency the decrease was 15.6%.
· The underlying EBIT amounted to MSEK 39.8 (69.3) a decrease which is mainly explained by lower sales in Sweden and Finland.
· Increased sales and profitability in Norway, Denmark and UK.
· Cash flow from operating activities increased by MSEK 77.5 to MSEK 99.4 (21.9).
"Candyking ended 2015 with an operating profit of MSEK 19 in the fourth quarter, some MSEK 3 lower than previous year. Strong performances in UK, Norway and Denmark, along with cost measures taken almost compensated for the significant volume decline in the Swedish market. Net debt continues to decline and is now MSEK 749. As a consequence of the intensified competition further cost savings will be implemented in the beginning of 2016. ", says Fredrik von Oelreich, President & CEO at Candyking.
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 9.000 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 and Candyking Favourites. In addition. Candyking is a leading pick & mix supplier of natural snacks in Sweden and Finland under the Parrot’s brand. In 2015 the company had sales of about SEK 1.5 billion. More information is available at www.candyking.com
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