Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Rising Cocoa Prices – a Challenge for Cloetta

The confectionery manufacturer Cloetta is now warning that a rising cocoa price may affect the company.

» Published: 25 October 2024

Rising Cocoa Prices – a Challenge for Cloetta
Photo: Gorm Kallestad/NTB/TT

In connection with the interim report for the third quarter, the company highlights the challenging situation.

"The historically high cocoa price level is expected to affect us with full force only during the last quarter of the year, which means that we are facing a real challenge to deliver a two-digit operating margin in the last quarter," writes CEO Katarina Tell.

During the third quarter, the operating margin was 10.8 percent compared to 9.4 percent during the same period in 2023. This is at the same time as the operating profit increased to 238 million kronor compared to 201 million the previous year. The turnover also increased, up 2.2 percent to almost 2.2 billion kronor.

A positive factor for the company is the growing interest in Swedish pick-and-mix candy in the USA through various forms of social media.

"The recent increased attention to pick-and-mix candy in the USA, known as "Swedish candy" on social media, is driving growth in our relatively limited operations in North America. For us, this is a good example of our opportunities to continue growing," writes Katarina Tell.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

This is how your wallet can be affected by Trump's victory
2 MIN READ

This is how your wallet can be affected by Trump's victory

Record on Wall Street after Trump's victory
1 MIN READ

Record on Wall Street after Trump's victory

Thousand-kronor notes to be picked up when the Central Bank increases the pace
3 MIN READ

Thousand-kronor notes to be picked up when the Central Bank increases the pace

Swish up and running again after disruption
1 MIN READ

Swish up and running again after disruption

Trump's company is soaring on the stock exchange
1 MIN READ

Trump's company is soaring on the stock exchange

Swedish Export Threatened by Trump Victory
2 MIN READ

Swedish Export Threatened by Trump Victory

Sameby's appeal against mining company rejected
1 MIN READ

Sameby's appeal against mining company rejected

Inflation Expectations Fall
1 MIN READ

Inflation Expectations Fall

Better than expected for Novo Nordisk
1 MIN READ

Better than expected for Novo Nordisk

No "Trump Effect" on the Stockholm Stock Exchange
1 MIN READ

No "Trump Effect" on the Stockholm Stock Exchange

Stock Market Euphoria as Trump Heads for Victory
2 MIN READ

Stock Market Euphoria as Trump Heads for Victory

Rush on the Tokyo Stock Exchange after the election night
1 MIN READ

Rush on the Tokyo Stock Exchange after the election night

Bitcoin hits new record
1 MIN READ

Bitcoin hits new record

Upward trend on the New York Stock Exchange
1 MIN READ

Upward trend on the New York Stock Exchange

Colombia Buys Jas Gripen
2 MIN READ

Colombia Buys Jas Gripen

Now more wind power on land is required
2 MIN READ

Now more wind power on land is required

High Pressure Causes Electricity Prices to Soar
1 MIN READ

High Pressure Causes Electricity Prices to Soar

EU Approves More Modern VAT Rules
1 MIN READ

EU Approves More Modern VAT Rules

Interest Rate Cuts at Risk if Trump Wins
3 MIN READ

Interest Rate Cuts at Risk if Trump Wins

Raid on multiple Netflix offices
1 MIN READ

Raid on multiple Netflix offices