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2017-08-24 08:00 CEST
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Scandinavian Tobacco Group A/S: Interim Report 1 January - 30 June 2017

 

Company Announcement
No.23/2017

24 AUGUST 2017

 

Interim Report

1 january-30 JUNE 2017

 

Financial performance in line with expectations - FY guidance maintained

 

Highlights for THE SIX MONTHS TO 30 JUNE 2017

 

  • Reported net sales of DKK 3,052 million (DKK 3,199 million) - organic growth negative at 5.0%
     
  • Reported EBITDA of DKK 515 million (DKK 632 million) - organic growth negative at 11.8%
     
  • Net profit of DKK 241 million (DKK 346 million)
     
  • Free cash flow of DKK 299 million (DKK 165 million)

 

 

Highlights for THE SECOND QUARTER OF 2017

 

  • Reported net sales of DKK 1,673 million (DKK 1,699 million) - organic growth negative at 1.1%
     
  • Reported EBITDA of DKK 315 million (DKK 366 million) - organic growth negative at 3.8%
     
  • Net profit of DKK 166 million (DKK 208 million)
     
  • Free cash flow of DKK 251 million (DKK 369 million)

 

 

Financial Guidance 2017

 

FY 2017 guidance of slightly negative organic net sales growth and negative organic growth in adjusted EBITDA of 4-8% unchanged.

 

 

STATEMENT BY CEO NIELS FREDERIKSEN:
"Our overall financial performance in the second quarter was in line with our expectations. We are seeing an improved trajectory for machine-made cigars in Europe supported by more stable market dynamics. Our branded handmade cigars business is performing well, but the category remains impacted by the challenges in Cigars International. We are making steady but slow progress in our efforts to remedy the situation. Our cash generation remains strong, and we delivered a free cash flow of DKK 251 million in the quarter."

 

For media enquiries:
Kaspar Bach Habersaat
Director of Group Communications
+45 7220 7152 or kaspar.bach@st-group.com
For investor enquiries:
Torben Sand
Head of Investor Relations
+45 7220 7126 or torben.sand@st-group.com

 

HUG#2128883