Copenhagen, 4 November 2021
Interim report, 1 January - 30 September 2021
Scandinavian Tobacco Group A/S reports Q3 results in line with expectations and maintains full year guidance
For the third quarter of 2021 Scandinavian Tobacco Group delivered strong results against difficult 2020 comparisons. Organic net sales declined by 2% and organic EBITDA grew 1%. The results were driven by continued strong demand for handmade cigars in the US, a favourable market- and product mix, and synergies from the integration of Agio Cigars. Supply issues in Europe impacted net sales negatively in the third quarter.
CEO Niels Frederiksen: “We deliver strong quarterly performance in line with expectations and maintain the positive momentum we have had throughout 2020 and 2021. The combination of the integration of Agio Cigars, the growth in handmade cigars and our underlying transformation have significantly improved our performance and raised our earnings and margins levels. I remain proud and impressed with the way our organization has continued to deliver a strong performance throughout a challenging period”.
Based on the results for the first nine months of 2021 the financial outlook for the full year is unchanged:
For further information, please contact:
Investors: Torben Sand, Head of IR, phone +45 5084 7222 or firstname.lastname@example.org
Media: Simon Mehl Augustesen, Director of Group Communications, phone: +1 484-379-8725 or email@example.com
A conference call will be held on 4 November 2021 at 10.00 CEST. Dial-in information and an accompanying presentation will be available at investor.st-group.com around 09:00 CEST.