ST reports results

Scandinavian Tobacco Group reported net sales of DKK6.87 billion ($1 billion) and EBITDA before special items of DKK1.51 billion for the full year 2019. This corresponds to an organic decline of 2.6 percent in net sales and organic increase of 7.1 percent in EBITDA, and it is in line with the financial guidance for the year.

Net profit increased to DKK748 million from DKK666 million.

“In 2019, we saw strong financial performance across our four divisions with 7.1 percent organic EBITDA growth and free cash flow before acquisitions of DKK1,187 million,” said Niels Frederiksen, CEO of Scandinavian Tobacco.

“During the year, we also took significant steps in shaping the future of Scandinavian Tobacco Group by announcing our biggest acquisition in recent history—namely Royal Agio Cigars—and by accelerating the implementation of ‘Fueling the Growth,’ our groupwide transformational program.”