Swedish Match: Interim Report January - March 2021

STOCKHOLM, April 30, 2021

Impressive Q1 performance across all product segments

• Double-digit sales and operating profit growth across all product segments in local currencies.

• For the Smokefree product segment, continued momentum for ZYN drove strong US performance and in Scandinavia good underlying development was further enhanced by timing effects on shipments and COVID-19 related channel mix effects.

• For Cigars, record volumes, sales and operating profit on the back of strong category growth and improved price mix.

• No major operational COVID-19 related disruptions and COVID-19 related effects in aggregate are estimated to have elevated the reported financial performance.

• In local currencies, sales increased by 23 percent for the first quarter. Reported sales increased by 11 percent to 4,455 MSEK (4,029).

• In local currencies, operating profit from product segments¹⁾ increased by 40 percent for the first quarter. Reported operating profit from product segments increased by 26 percent to 2,092 MSEK (1,659).

• Operating profit, which includes a settlement income of 300 MSEK related to a previously ongoing arbitration concerning nicotine pouches, amounted to 2,354 MSEK (1,601) for the first quarter.

• Profit after tax amounted to 1,780 MSEK (1,168) for the first quarter.

• Earnings per share increased by 57 percent to 11.25 SEK (7.18) for the first quarter. Adjusted earnings per share²⁾ increased by 36 percent to 9.74 SEK (7.18) for the first quarter.

1) Excludes Other operations and larger one-time items. 

2) Excludes larger one-time items net of tax.

For the full report: www.swedishmatch.com/Investors/Financial-reports/Interim-reports/

Swedish Match telephone conference

A telephone conference will be held today, Friday, April 30 at 2:00 p.m. (CET), (1:00 p.m. UK time). At this time we will review and comment on the results. Participants will include Lars Dahlgren, Anders Larsson, and Emmett Harrison.