Snus sales increased

Swedish Match’s Scandinavian shipment volumes of snus during the first quarter to the end of March, at 61.5 million cans, were up by about nine percent on those of the first quarter of last year, 56.5 million.
At the same time, the company’s shipment volume of moist snuff in the US, at 34.0 million cans, was down by about two percent from 34.6 million.
And its volumes of snus and nicotine pouches outside Scandinavia were up by 95 percent to 4.8 million cans.
In announcing its first-quarter results, SM said that it had accounted for a 64.1 percent share of Sweden’s snus market during the first quarter of this year, down 1.7 percentage points from that of the first quarter of 2017.
Its share of Sweden’s premium snus sector had fallen by 2.7 percentage points to 89.3 percent; its share of Sweden’s value snus sector had fallen by 1.6 percentage points to 35.2 percent; and its share of Norway’s snus market had fallen by 0.1 of a percentage point to 52.2 percent.
Meanwhile, in the US, SM’s cigar shipment volume during the first quarter, at 429 million, was increased by about eight percent on that of the first quarter of 2017, 398 million. And its chewing tobacco volume (excluding contract manufacturing volumes) during the first quarter, at 1,568,000 pounds, was down by about six percent on that of the first quarter of 2017, 1,663,000 pounds.
SM’s worldwide shipment volumes of matches during the first quarter, at 15.8 billion sticks, were down by about 11 percent on those of the first quarter of 2017, 17.7 billion.
And its worldwide shipment volumes of lighters, at 73.1 million, were down by about 23 percent from 95.3 million.
Sales at SM during the first quarter, at SEK2,941 million, were increased by about four percent on the restated sales of the first quarter of 2017, SEK2,833 million.
Operating profit from product segments (excluding other operations and larger one-off items) increased by six percent, from SEK1,021 million (restated) to SEK1,079 million.
Operating profit was down by 15 percent, from SEK1,235 million (restated) to SEK1,047 million.
In announcing the results, CEO Lars Dahlgren (pictured) said the first quarter had represented a strong start to the year.
“In local currencies, sales increased by 10 percent and operating profit from product segments, excluding larger one-time items, increased by 11 percent.
“While our financial results were favorably influenced by calendar and shipment timing effects, I am pleased with our underlying performance for the quarter,” he said.