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Q1 Overview Words from the president Financial overview Sustainability Financial statements Disclosures Definitions Contact Cloetta Interim report Q1 , January - March 2021 Stockholm , 23 April 2021 " During the quarter we launched several innovations in response to important consumer trends , such as a focus on plant - based and natural ingredients . " Henri de Sauvage - Nolting , President and CEO First quarter , January - March 2021 ⚫ Net sales for the quarter decreased by 7.9 per cent to SEK 1,398m ( 1,518 ) , including a negative impact from foreign exchange rates of 3.7 per cent . ⚫ Sales of Branded packaged products increased organically by 2.5 per cent during the quarter : 2.7 per cent in January , -0.1 per cent in February and 3.8 per cent in March . • Sales of Pick & mix declined organically by 22.9 per cent during the quarter : -38.5 per cent in January , -38.1 per cent in February and 13.4 per cent in March . ⚫ Operating profit amounted to SEK 107m ( 149 ) . Profit for the period amounted to SEK 106m ( 44 ) . Operating profit , adjusted for items affecting comparability , amounted to SEK 111m ( 152 ) . Key ratios Operating profit , adjusted , of Branded packaged products amounted to SEK 135m ( 175 ) . • Operating profit , adjusted , of Pick & mix amounted to SEK - 24m ( -23 ) . ⚫ Cash flow from operating activities was SEK 57m ( 67 ) . ⚫ Net debt / EBITDA ratio was 2.8x ( 2.4 ) . • After the end of the quarter , Cloetta refinanced the Group through its existing banks for up to four years . Cloetta has also decided to invest an additional approximately SEK 130m in packaging technology . First quarter Rolling 12 Full year SEKM Net sales Jan - Mar 2021 Jan - Mar 2020 Change , Apr 2020- % Mar 2021 2020 1,398 1,518 -7.91 5,575 5,695 Operating profit , adjusted 111 152 -27.0 474 515 Operating profit margin , adjusted % 7.9 10.0 -2.1 - pts 8.5 9.0 Operating profit ( EBIT ) 107 149 -28.2 420 462 Operating profit margin ( EBIT margin ) , % 7.7 9.8 -2.1 - pts 7.5 8.1 Profit before tax 127 60 111.7 470 403 Profit for the period 106 44 140.9 343 281 Earnings per share , basic and diluted , SEK 0.37 0.15 146.7 1.20 0.98 Net debt / EBITDA , x ( Rolling 12 months ) 2.8 2.4 16.7 2.8 2.7 Free cash flow 11 -20 n / a 397 366 Cash flow from operating activities 57 67 -14.9 646 656 1 Organic growth at constant exchange rates and comparable units was -4.2 per cent for the quarter . See further under Net sales on page 4 .