Swedish Match Reports Record Quarter

Swedish Match had a record quarter from product segments driven by U.S. businesses.

In local currencies, sales from product segments increased by 21 percent for the first quarter. Reported sales increased by 24 percent to SEK4.03 billion ($401.68 million)

In local currencies, operating profit from product segments increased by 30 percent for the first quarter. Reported operating profit from product segments increased by 34 percent to SEK1.65 billion.

Operating profit amounted to SEK1.59 billion for the first quarter. Profit after tax amounted to SEK1.16 billion for the first quarter. Earnings per share increased by 38 percent to SEK7.14 for the first quarter.

Net effect on revenue and results from Covid-19 impacts were positive in the first quarter but are expected to become negative in the second quarter.

Swedish Match nicotine pouch product ZYN is now available in approximately 80,000 stores in the U.S., and average sales per store continue to increase.