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Cloetta AB profit misses consensus by 31.3% in Q4

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Cloetta AB profit misses consensus by 31.3% in Q4

Cloetta AB said its normalized net income for the fourth quarter was 42 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 61 öre per share.

EPS climbed 7.3% year over year from 39 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 120.6 million kronor, an increase of 7.2% from 112.5 million kronor in the year-earlier period.

The normalized profit margin increased to 8.5% from 7.1% in the year-earlier period.

Total revenue climbed on an annual basis to 1.62 billion kronor from 1.58 billion kronor, and total operating expenses grew on an annual basis to 1.38 billion kronor from 1.33 billion kronor.

Reported net income came to 157.6 million kronor, or 55 öre per share, compared to 157.9 million kronor, or 55 öre per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.03 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.41 kronor.

EPS rose 45.2% from 71 öre in the prior year.

Normalized net income was 296.3 million kronor, an increase of 45.0% from 204.4 million kronor in the prior year.

Full-year total revenue increased 6.8% from the prior-year period to 5.67 billion kronor from 5.31 billion kronor, and total operating expenses rose 5.8% on an annual basis to 5.02 billion kronor from 4.75 billion kronor.

The company said reported net income increased 60.4% year over year to 386.9 million kronor, or 1.35 kronor per share, in the full year, from 241.2 million kronor, or 84 öre per share.

As of March 10, US$1 was equivalent to 8.38 Swedish kronor.