Today, Scandinavian Tobacco Group publishes its Annual Report for 2014.
- Net sales for the full year were 6,126 MDKK (5,925). In local currencies net sales grew by 3.8%.
- All of our core tobacco categories and all of our core regions North America, Europe and Australia and New Zealand grew net sales in local currencies.
- EBITDA was 1,177 MDKK (1,175). In local currencies EBITDA grew by 0.7%.
- Cash flow from operating activities grew by 42% and amounted 1,056 MDKK (745).
- Outlook: Based on planned growth activities and continued optimisation in our supply chain, we expect to deliver improved earnings across categories.
Newly appointed CEO of Scandinavian Tobacco Group, Niels Frederiksen, says:
“We continue to consolidate lucrative niches of the tobacco market by growing our leadership in cigars and pipe tobacco. In 2014, we grew net sales at a stable pace in all of our core categories handmade and machine-made cigars, pipe tobacco and fine cut. This was achieved by leveraging our significant scale and diversified geographical market footprint across three continents and more than 100 markets.”
“Our handmade cigar business continues to grow at a rapid pace and now accounts for one quarter of our net sales. In 2014, our handmade cigars category grew by 9.6% driven by our US market leading manufacturer, General Cigar, and online retailer Cigars International. The handmade cigar category is one of our fastest growing categories with a sustainable year-on-year growth of 5.8% since 2012.”
“These results confirm that we can grow our business across all of our categories by innovating and adapting to remain smoker’s preferred choice. Last year, General Cigar launched 124 new cigar variants, which delivered one-seventh of its net sales, and grew its market share close to 30%.”
“US online retailer, Cigars International, achieved double-digit net sales growth for the eighth consecutive. Cigars International’s market share is now above 30% making it the clear US leader in the direct-to-consumer premium cigar and pipe tobacco categories.”
“Despite declining volume developments in most of our markets, we expect to improve earnings across categories by growing our net sales and optimising our supply chain.”
For further information please contact: CEO, Niels Frederiksen or Director of Group Communications, Kaspar Bach Habersaat, firstname.lastname@example.org or phone +45 7220 7152.
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