Swedish Match: Interim Report January - March 2021

Rhea-AI Summary

Swedish Match reported strong Q1 2021 results, achieving double-digit growth in sales and operating profit across all product segments. Key highlights include:

• Sales increased by 23% in local currencies, reaching 4,455 MSEK.
• Operating profit climbed 40% in local currencies to 2,092 MSEK.
• Profit after tax rose to 1,780 MSEK, a significant increase.
• Earnings per share jumped 57% to 11.25 SEK.

No major COVID-19 disruptions were reported, and the company benefited from favorable shipment timing.

Positive

• Sales increased by 23% in local currencies, reaching 4,455 MSEK.
• Operating profit climbed 40% in local currencies, totaling 2,092 MSEK.
• Profit after tax rose significantly to 1,780 MSEK.
• Earnings per share jumped 57% to 11.25 SEK.

Negative

• None.

STOCKHOLM, April 30, 2021 /PRNewswire/ --

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.

Listen to the telephone conference: www.swedishmatch.com/Investors/Presentations/Webcasts-and-audiocasts/

Telephone conference presentation: www.swedishmatch.com/Investors/Presentations/

Contacts:

Lars Dahlgren, President and Chief Executive Officer
Phone +46 8 658 0441

Anders Larsson, Chief Financial Officer and Senior Vice President Group 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 pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.15 a.m. CET on April 30, 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/swedish-match/r/interim-report-january---march-2021,c3337411

The following files are available for download:

https://mb.cision.com/Main/2004/3337411/1410472.pdf

Swedish Match Q1 2021 ENG

 

View original content:http://www.prnewswire.com/news-releases/swedish-match-interim-report-january--march-2021-301280993.html

SOURCE Swedish Match

FAQ

What were the Q1 2021 sales figures for Swedish Match (SWMAY, SWMAF)?

Swedish Match reported Q1 2021 sales of 4,455 MSEK, an increase of 23% in local currencies.

How much did Swedish Match's operating profit increase in Q1 2021?

The operating profit for Q1 2021 increased by 40% in local currencies, totaling 2,092 MSEK.

What was the profit after tax for Swedish Match in Q1 2021?

The profit after tax for Q1 2021 amounted to 1,780 MSEK.

What was the change in earnings per share for Swedish Match in Q1 2021?

Earnings per share increased by 57% to 11.25 SEK for the first quarter of 2021.

Were there any operational disruptions for Swedish Match during Q1 2021?

No major operational COVID-19 related disruptions were reported in Q1 2021.