Swedish match: January interim report
Posted: October 27, 2021 at 3:07 a.m. EDT|Update: 1 hour ago
STOCKHOLM, October 27, 2021 / PRNewswire / –
Highlights of the third quarter
- Record sales with year-over-year revenue growth in all product segments, despite comparing to a quarter of the previous year with high demand for certain product lines.
- In local currencies, sales increased 10% for the third quarter. Reported sales increased 9% to MSEK 4,778 (4,400).
- Record operating profit from product segments, despite continued increase in expenses behind growth opportunities for smoke-free products.
- In local currencies, operating income of product segments1) increased by 2% in the third quarter. Reported operating profit for the product segments increased 1% to MSEK 2,099 (2,075).
- For the smoke-free product segment, continued momentum of ZYN Nicotine sachets in the United States and strong performance in Scandinavia led to increased sales and operating profit.
- For the Cigars product segment, the increase in sales of natural leaf varieties outpaced declines for HTL cigars, while operating profit in local currency was virtually flat, mainly reflecting higher production costs.
- For the Lights product segment, the robust performance of the lighters resulted in increased profits.
- Operating profit amounted to MSEK 2,075 (2,048) for the third quarter.
- Profit after tax for the third quarter amounted to MSEK 1,540 (1,222). Profit after tax for the third quarter of last year included a charge of MSEK 286 following an unfavorable ruling in a tax case.
- Earnings per share rose 30 percent to reach 0.99 SEK (0.76) for the third trimester. Adjusted earnings per share increased 5% to 0.99 SEK (0.94).2)
- At September 14, Swedish Match has announced its intention to sell its American cigar business to its shareholders. Under various conditions, the separation is expected to be completed no earlier than the second half of 2022. For more details, see the September 14 Press release.
1) Excludes other operations and more important one-off items.
2) In May 2021, a stock split (10: 1) has been performed. Historical share data in this report has been restated in accordance with IAS 33.
For the full report: www.swedishmatch.com/Investors/Financial-reports/Interim-reports/
Swedish match conference call
A conference call will be held today, Wednesday October 27 To 1:00 p.m. (CET), (12h00 England Time). At that time, we will review and comment on the results. Participants will understand Lars dahlgren, Anders Larsson, and Emmett Harrison.
Listen to the conference call: www.swedishmatch.com/Investors/Presentations/Webcasts-and-audiocasts/
Presentation of the conference call: www.swedishmatch.com/Investors/Presentations/
Lars dahlgren, President and CEO
Phone +46 8 658 0441
Anders Larsson, Chief Financial Officer and Group Senior Vice President Finance
Phone +46 10 139 3006
Emmett Harrison, Senior Vice President Investor Relations
Phone +46 70 938 0173
This information is information that Swedish Match AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation and the Securities Markets Act. The information has been submitted for publication, through the contact persons indicated above, to the address 08:15 CET to October 27, 2021.
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SOURCE Match Swedish
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