Cloetta — Earnings Release 2010

Mar 23, 2010

Press Release 23 March 2010

Interim report 1 September 2009 – 28 February 2010: Continued growth in sales of Cloetta's products

Sales of Cloetta's products rose by 7% in the second quarter. Operating profit for the second quarter was SEK - 7 million (-8).

"We can look back on a good second quarter in terms of sales thanks to continued strong Christmas sales in December and successful product launches," says Cloetta's Managing Director and CEO Curt Petri.

Operating profit for the first half of the year rose to SEK 37 million (25) excluding items affecting comparability. Sales of Cloetta's products rose by 7% and total sales for the first half of the year amounted to SEK 581 million (735), a decrease that reflects Cloetta's discontinued sales of Fazer products as of 1 January 2009. Operating margin was 6.4% (4.1). Earnings per share were SEK 1.05 (1.35).

"The improvement in earnings is attributable to continued high efficiency in production and strong Christmas sales also in our first quarter," adds Curt Petri. "However, the high price of cocoa and a weak Swedish krona during the period had a sustained negative impact on our raw material costs."

"As a new and independent company, Cloetta has entered an offensive period with the introduction of a number of new products. The new Tarragona was presented last autumn and in the second quarter Cloetta launched a whole new brand, Cloetta good – a chocolate bar in four taste varieties. The chocolate bars are certified by Fairtrade, which is aimed at promoting improved working and living conditions for small-scale producers and agricultural workers in developing countries. Our introduction of Fairtrade-labelled chocolate is an expression of our desire to combine good flavour with a good cause," continues Curt Petri.

Cloetta is one of 17 suppliers approved by the Royal Court of Sweden to develop products for "The Official Wedding Series" to commemorate the wedding of Her Royal Highness Crown Princess Victoria and Mr. Daniel Westling.

"Given the combination of romantic and festive, together with the foundation's mission to combat exclusion among young people, the choice to develop these products was very easy for us at Cloetta. The products have already gained considerable attention from the media and will be available for sale starting in mid-April," says Curt Petri.

"Good combinations have always been and will continue to be Cloetta's recipe for success," concludes Curt Petri.

The information in this press release is subject to the disclosure requirements of Cloetta AB (publ) pursuant to the Swedish Securities Market Act. The information was submitted for publication on 23 March 2010, 12.00 CET.

For additional information contact:

Curt Petri, CEO, mobile +46 70-593 2169 or Kent Sandin, CFO, mobile +46 70-582 7795.

About Cloetta

Founded in 1862, Cloetta is the oldest and only major Swedish confectionery company in the Nordic region. The company's best known brands are Kexchoklad, Center, Plopp, Polly, Tarragona, Guldnougat, Bridge, Juleskum, Sportlunch, Extra Starka and Cloetta good. Cloetta has two production units in Sweden, one in Ljungsbro and one in Alingsås. Since 16 February 2009, the company's class B shares are traded on NASDAQ OMX Stockholm Nordic. www.cloetta.com