Report on Operations full year 2003

- Sales declined by 4% and reached 13,036 MSEK (13,643)
- Sales and operating income were up 3% in local currencies
- Net profit in Swedish Crowns increased by 9% and amounted to 1,558 MSEK (1,429)
- EPS increased by 14% and was 4.68 SEK (4.10)
- Continued strong cash flow
- The Board proposes an increased dividend to 1.70 SEK (1.60)

About Us

Swedish Match develops, manufactures, and sells quality products with market-leading brands. Swedish Match’s product areas are Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), Lights (matches, lighters, and complementary products), and Other operations. Production is located in six 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.

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