Interim Report January – March 2018
Highlights from the first quarter
- In local currencies, sales increased by 10 percent for the first quarter. Reported sales increased by 4 percent to 2,941 MSEK (2,833).
- In local currencies, operating profit from product segments1) increased by 11 percent for the first quarter. Reported operating profit from product segments increased by 6 percent to 1,079 MSEK (1,021).
- Operating profit2) amounted to 1,047 MSEK (1,235) for the first quarter. The first quarter 2017 included larger one-time items of 238 MSEK relating to capital gains from the sale of STG shares and from the sale of a parcel of land.
- Profit after tax amounted to 766 MSEK (932) for the first quarter.
- Earnings per share amounted to 4.36 SEK (5.07) for the first quarter. Adjusted earnings per share3) increased by 15 percent to 4.36 SEK (3.78).
- As of January 1, 2018, Swedish Match implemented the new revenue recognition standard, IFRS 15. This implementation has a significant effect on the recognition of net sales, but an immaterial impact on profit. Consequently, the Group’s reportable segments have changed. Financial statements of 2017 have been restated to reflect the recognition of revenue according to the new standard. Further information is given in Note 1, Accounting principles.
1) Operating profit for Swedish Match product segments, which excludes Other operations and larger one-time items.
2) Operating profit for the Group, which includes Other operations and larger one-time items.
3) Earnings per share adjusted to exclude income from Scandinavian Tobacco Group (STG) and larger one-time items.
For the full report: www.swedishmatch.com/Investors/Financial-reports/Interim-reports/
Swedish Match telephone conference
A telephone conference will be held today, Friday, May 4 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, Thomas Hayes, and Emmett Harrison.
Listen to the telephone conference: www.swedishmatch.com/Investors/Presentations/Webcasts-and-audiocasts/
Telephone conference presentation: www.swedishmatch.com/Investors/Presentations/
Lars Dahlgren, President and Chief Executive Officer
Office +46 8 658 0441
Thomas Hayes, Senior Vice President and Chief Financial Officer
Office +46 8 658 0108
Emmett Harrison, Senior Vice President Investor Relations and Corporate Sustainability
Office +46 8 658 0173
Richard Flaherty, President US Division, US Investor Relations contact
Office +1 804 787 5130
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 May 4, 2018.
Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product segments Snus and moist snuff, Other tobacco products, and Lights. Production is located in seven countries, with sales concentrated in Scandinavia and the US. The Swedish Match share is listed on Nasdaq Stockholm (SWMA).
Swedish Match’s vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket.
Swedish Match AB (publ), SE-118 85 Stockholm, Sweden
Visiting address: Sveavägen 44, 8th Floor. Telephone: +46 8 658 0200
Corporate Identity Number: 556015-0756