Scandinavian Tobacco Group A/S (STG) had a strong first full financial year following the merger in 2010 with parts of Swedish Match. The Group realised net sales of DKK 5,472 million and an EBITDA of DKK 1,174 million and has during the year strengthened its position as a world leading manufacturer of cigars and pipe tobacco.
2011 was a good year for Scandinavian Tobacco Group A/S (STG). The Group delivered net sales of DKK 5,472 million, an EBITDA of DKK 1,174 million and a profit before tax of DKK 547 million and after tax of DKK 347 million. The profit includes one-off items of DKK 98 million related to restructuring following the merger in 2010 with the cigar and pipe tobacco business of Swedish Match AB.
”The first full financial year after the merger has been busy for STG. The new and larger global organisation is up and running. Also, we have taken steps to strengthen the portfolio of strong brands, and we are streamlining our supply chain and also here realising the synergies from the merger. During the year, we also acquired the US company Lane, Limited. We came out of 2011 with a result that we are proud of and which confirms that the merger has succeeded in creating and strengthening a company that is world leading within both cigars and pipe tobacco,” says Anders Colding Friis, CEO.
In general, the global market for cigars has experienced a minor decline over the past year, but STG has gained market shares in most markets and has only experienced a small decline in volume. Thus, STG has strengthened its position in the global market during 2011. The worldwide pipe tobacco market is declining, but despite this tendency STG has experienced a growth rate of 10% in 2011. The volume sold within fine-cut tobacco increased by 2%.
An improved EBITDA is expected for 2012 compared to 2011. STG will continue to focus on growth through increased market shares, product development and new markets.
Jørgen Tandrup Anders Colding Friis
For further information, please contact:
Scandinavian Tobacco Group A/S
Anders Colding Friis, CEO, (+45) 3955 6200
For more information on Scandinavian Tobacco Group A/S, including the annual report, please refer to www.st-group.com.
ABOUT SCANDINAVIAN TOBACCO GROUP
- a world leading manufacturer of cigars and traditional pipe tobacco
- approx. 8,200 employees in the Dominican Republic, Honduras, Nicaragua, Indonesia, Europe, New Zealand, Australia, Canada and the US
The Group’s brand portfolio contains more than 200 international, regional and local tobacco brands, including the cigar brands Café Crème, La Paz, Henri Wintermans, Macanudo, CAO, Partagas (US) and Cohiba (US). Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.Ø. Larsen, while leading fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns.
The Group is ultimately owned by two Danish foundations (51%) – the Augustinus Foundation and Det Obelske Familiefond – and by Swedish Match (49%). Both Danish foundations have been active in the tobacco industry for more than 250 years. Swedish Match is a publicly owned company listed on the Stockholm Stock Exchange.
Read more: www.st-group.com.
Scandinavian Tobacco Group A/S
CVR 31 08 01 85