Interim Report January – March 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.

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

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

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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
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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.
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Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product segments Smokefree, Cigars, and Lights. Production is located in seven countries, with sales concentrated in the US and Scandinavia. 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, ZYN, Game, Red Man, Fiat Lux, and Cricket.

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Swedish Match AB (publ), SE-118 85 Stockholm, Sweden
Visiting address: Sveavägen 44, 8^th Floor. Telephone: +46 10 13 93 000
Corporate Identity Number: 556015-0756
swedishmatch.com

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