Letter from CEO and Chairman

A transformational year

Niels Frederiksen, CEO and Nigel Northridge, Chairman

2018 was an important year for Scandinavian Tobacco Group as we took significant steps in the development of our company with the launch of a Groupwide transformational program and saw good progress on our strategy.

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We generate

Financial Performance 2018

Net sales




Free cash flow before acquistions

(DKK million)


Net profit

(DKK million)


Proposed ordinary dividend

(DKK per share)


Net sales

Net sales per category

(DKK million)

  • Handmade cigars 2,376 (35%)
  • Machine-made cigars 2,367 (35%)
  • Pipe tobacco 478 (7%)
  • Fine cut tobacco 562 (9%)
  • Accessories and Contract Manufacturing 935 (14%)

Net sales per region

(DKK million)

  • Europe 3,443 (51%)
  • America 2,727 (41%)
  • Rest of World 548 (8%)
Global Reach

Our Presence

Relentless focus on smoking enjoyment and on becoming the undisputed leader in cigars and pipe tobacco. This is key to how we ensure sustainable shareholder value.

Employees world wide


Sales company countries

Australia, Belgium, Canada, Croatia, Denmark, France, Germany, Italy, the Netherlands, New Zealand, Portugal, Slovenia, Spain, Sweden, the UK and the US

A world leader in cigars and traditional pipe tobacco

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Annual Report 2018

Annual Report 2018

View our latest Annual Report