12 September 2008
At a board meeting today, the Supervisory Board of Skandinavisk Tobakskompagni has considered and adopted the Annual Report of ST and the ST Group for 2007/08.
The ST Group achieved a satisfactory profit before tax of DKK 2,370 million compared to DKK 2,348 million in 2006/07. ST’s share of the profit after tax amounted to DKK 1,620 million compared to DKK 1,616 million in 2006/07.
The Group’s revenue for the year amounted to DKK 44 billion compared to DKK 42 billion last year.
With effect from 1 July 2008, ST sold its cigarette activities and certain roll-your-own and snus activities to British American Tobacco (BAT). Consequently, BAT has acquired the businesses House of Prince, J.L. Tiedemanns and Fiedler & Lundgren at a price of more than DKK 20 billion. At the same time, ST entered into an agreement with Assens Tobaksfabrik A/S to acquire its 50% share of Orlik Tobacco Company A/S making this company a fully owned subsidiary. Finally, Skandinavisk Holding A/S, the Parent Company of ST, acquired BAT’s 32.35% shareholding in ST at 1 July 2008. Skandinavisk Holding A/S is owned by Chr. Augustinus Fabrikker Akts. and C.W. Obel A/S.
As an element in the above transaction, ST distributed extraordinary dividend totalling DKK 280.10 per share equivalent to DKK 10,421 million in June and July 2008. For the 2006/07 financial year, dividend amounted to DKK 40 per share. The Supervisory Board proposes no further dividend distribution in respect of the results for 2007/08.
ST´s Management Board now consists of Anders Colding Friis (CEO), Niels Frederiksen, Christian Hother Sørensen, Rob Zwarts and Sisse Fjelsted Rasmussen.
In continuation of the Annual General Meeting, Skandinavisk Holding A/S (SH), the Parent Company of ST, will make a compulsory redemption in respect of all Series I shares representing more than 2% of the share capital. In this way SH will achieve full ownership of ST.
The ST Group is the world’s leading manufacturer of pipe smoking tobacco and a major player in the roll-your-own tobacco market. At the same time, the Group is the number one cigar supplier in Europe and number 3 on the global market.
ST’s ownership of Dagrofa and Tivoli will continue without any changes.
The 2008/09 results of ST will be materially affected by the transaction with BAT, whereas the operating profit from the continuing operations is expected to be at the 2007/08 level.
Read the Danish version here / Læs den dansk udgave her (PDF).
Read the annual report 2007/2008 here.
Annual results of the ST Group / ST-Koncernens årsresultat
At a board meeting today, the Supervisory Board of Skandinavisk Tobakskompagni has considered and adopted the Annual Report of ST and the ST Group for 2007/08.
The ST Group achieved a satisfactory profit before tax of DKK 2,370 million compared to DKK 2,348 million in 2006/07. ST’s share of the profit after tax amounted to DKK 1,620 million compared to DKK 1,616 million in 2006/07.
The Group’s revenue for the year amounted to DKK 44 billion compared to DKK 42 billion last year.
With effect from 1 July 2008, ST sold its cigarette activities and certain roll-your-own and snus activities to British American Tobacco (BAT). Consequently, BAT has acquired the businesses House of Prince, J.L. Tiedemanns and Fiedler & Lundgren at a price of more than DKK 20 billion. At the same time, ST entered into an agreement with Assens Tobaksfabrik A/S to acquire its 50% share of Orlik Tobacco Company A/S making this company a fully owned subsidiary. Finally, Skandinavisk Holding A/S, the Parent Company of ST, acquired BAT’s 32.35% shareholding in ST at 1 July 2008. Skandinavisk Holding A/S is owned by Chr. Augustinus Fabrikker Akts. and C.W. Obel A/S.
As an element in the above transaction, ST distributed extraordinary dividend totalling DKK 280.10 per share equivalent to DKK 10,421 million in June and July 2008. For the 2006/07 financial year, dividend amounted to DKK 40 per share. The Supervisory Board proposes no further dividend distribution in respect of the results for 2007/08.
ST´s Management Board now consists of Anders Colding Friis (CEO), Niels Frederiksen, Christian Hother Sørensen, Rob Zwarts and Sisse Fjelsted Rasmussen.
In continuation of the Annual General Meeting, Skandinavisk Holding A/S (SH), the Parent Company of ST, will make a compulsory redemption in respect of all Series I shares representing more than 2% of the share capital. In this way SH will achieve full ownership of ST.
The ST Group is the world’s leading manufacturer of pipe smoking tobacco and a major player in the roll-your-own tobacco market. At the same time, the Group is the number one cigar supplier in Europe and number 3 on the global market.
ST’s ownership of Dagrofa and Tivoli will continue without any changes.
The 2008/09 results of ST will be materially affected by the transaction with BAT, whereas the operating profit from the continuing operations is expected to be at the 2007/08 level.
Read the Danish version here / Læs den dansk udgave her (PDF).
Read the annual report 2007/2008 here.