Brief: Cloetta To Continue To Propose Stable Dividend Of SEK 1.00 Per Share

Cloetta AB

27/09/2022 08:00

Sept 27 (Reuters) - Cloetta AB  CLOEb.ST :
    * ON DIVIDEND: AMBITION TO CONTINUE TO PROPOSE A STABLE
DIVIDEND
IN LINE WITH 2021 OF SEK 1.00 PER SHARE
    * EBIT UPSIDE: EXPECTS FURTHER SAVINGS OF SEK 20M FROM
INSOURCING
BY 2026
    * EXPECTS NET DEBT/EBITDA TO BE BACK AT LONG-TERM TARGET OF
2.5X
IN 2026
    * CAPEX: NET INCREASE IN CAPEX TO CREATE A NEW NETWORK IS
ESTIMATED AT SEK 1.9BN DURING 2023-2032 COMPARED TO HISTORICAL
LEVELS
    * CAPEX: GREENFIELD INVESTMENT OF SEK 2.5BN WILL RESULT IN
AVOIDED
CAPEX OF SEK 0.6BN
    * DURING INVESTOR EVENT TO UPDATE ON PLAN TO INVEST IN NEW
GREENFIELD FACILITY IN NETHERLANDS
    * TO UPDATE ON PLAN TO CLOSE THREE EXISTING PLANTS
    * ON SAVINGS: TOTAL NET HEADCOUNT REDUCTION IS ESTIMATED TO
ABOUT
150 FTES
    * SEES EBIT UPSIDE FROM LONG-TERM GROWTH TO REACH SEK 40 TO
60M,
RESULTING IN TOTAL ANNUAL EBIT DELIVERY OF SEK 220 TO 260M BY
203

Source text for Eikon:  ID:nWkr17g6xt 
Further company coverage:  CLOEb.ST 
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