Cloetta AB (OTCPK:CLOEF)

$ 2.4 0 (0%) Market Cap: 639.02 Mil Enterprise Value: 816.53 Mil PE Ratio: 15.85 PB Ratio: 1.39 GF Score: 79/100

Q3 2020 Cloetta AB Earnings Call Transcript

Oct 22, 2020 / 09:00AM GMT

Release Date Price: $2.84

Transcript

Nathalie Redmo;publ;Head of IR;Communications

Cloetta AB

()-&

Good morning, and thank you for joining us on the Q3 Conference Call for Cloetta. My name is Nathalie Redmo, and I am Head of Investor Relations.

With me here today are Henri de Sauvage, CEO of Cloetta; and Frans RydÃ©n, CFO. Henri and Frans will take you through our third quarter results, and we will then move on to a Q&A session.

I will now hand over to you, Henri.

Henri de Sauvage;Nolting;publ;President;CEO

Cloetta AB

()-&

Very good. Thank you, Nathalie. Some key messages to start with for Q3. Very pleased, good to see that we are back to having growth in our branded business. So a good quarter driven by both marketing investments, innovation, but also increased traffic in the nonfood retail stores. A continued recovery for pick & mix, but consumer demand is still very subdued, minus 30%. Of course, it was minus 60% in quarter 2. Traffic is coming

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