Swedish Match reports sales up

Swedish Match’s sales for the full year 2015, at SEK14,486 million, were increased by nine percent on those of 2014, SEK13,305 million.

Sales during the fourth quarter increased by five percent to SEK3,719 million.

And, in local currencies, sales increased by two percent during both the full year and for the fourth quarter.

Operating profit for the full year from product areas, which excludes SM’s share of the Scandinavian Tobacco Group’s (STG) net profit, increased by seven percent to SEK3,690 million and, for the fourth quarter by one percent to SEK908 million.

In local currencies, operating profit from product areas declined by two percent for the full year and declined by four percent for the fourth quarter.

Swedish Match has started to report its share of STG’s net profit with a one quarter lag due to differences in the reporting schedules of the two companies; so no net profit from STG was recognized for the October-December 2015 period.

Operating profit including SM’s share of STG’s net profit, though excluding the share attributable to the fourth quarter 2015, was, during the full year, SEK4,008 million, up from SEK3,780 million during the full year 2014. For the fourth quarter it was SEK908 million, down from SEK992 million during the fourth quarter 2014.

Basic earnings per share (EPS) for the full year amounted to SEK14.48, up from SEK13.23 during the full year 2014, and to SEK3.34 for the fourth quarter, down from SEK3.55 for the fourth quarter of 2014. The decline in EPS for the fourth quarter was said to be fully attributable to the changed reporting relating to STG.