Scandinavian Tobacco Group A/S reports increased net sales but decreased EBITDA margin

From GlobeNewswire.: 2024-11-12 11:40:00

Scandinavian Tobacco Group A/S released their third quarter 2024 results, reporting a 7.1% increase in net sales to DKK 2.4 billion. Organic net sales saw a slight decrease due to the discontinuation of third-party nicotine pouch distribution in the US. The newly acquired Mac Baren contributed to the lower EBITDA margin.

In the first nine months of 2024, Scandinavian Tobacco Group saw a 4.5% increase in net sales to DKK 6.7 billion. The acquisition of Mac Baren is expected to deliver synergies of DKK 150 million annually by 2027. CEO Niels Frederiksen highlighted growth in machine-rolled cigars and Next Generation Products, as well as the successful introduction of the XQS brand in various markets.

Financial guidance for 2024 now includes the impact of the Mac Baren acquisition, with net sales expected to reach DKK 9.1 billion. Excluding Mac Baren, the company may land at the lower end of the guidance due to market declines in key cigar markets and the absence of third-party distribution of nicotine pouches in the US. Investors can access more information through the Investor Relations department. A conference call will be held on November 13, 2024, at 10:00 CEST for further discussion.



Read more at GlobeNewswire.:: Scandinavian Tobacco Group A/S reports third quarter 2024