Tag: Haypp Group

  • Haypp Group Sales up by a Quarter

    Haypp Group Sales up by a Quarter

    Image: Haypp Group

    The Haypp Group reported net sales of SEK944.2 million ($87.98 million) for the third quarter of 2024, up 23 percent over the comparable 2023 period. At constant currency exchange rates, net sales increased by 25 percent.

    Gross profit increased to SEK134.8 million, while adjusted EBIT for the third quarter increased to SEK33.1 million. In terms of volume, the company’s nicotine pouch business grew 42 percent.

    “Haypp Group retained its strong business momentum in the third quarter of 2024 with net sales growth of 23 percent, the highest rate over the last two years driven by strong performances from all three divisions,” said Haypp Groups CEO Gavin O’Dowd in a statement.

    “Moreover, the Insights business continues to develop as brand owners leverage Haypp Group’s unique and powerful consumer data.”

    The company’s third quarter report is here.

  • Sales Up at Haypp Group

    Sales Up at Haypp Group

    Photo: Haypp Group

    The Haypp Group, the world’s largest online retailer of nicotine pouches, reported net sales of SEK942.8 million ($89.66 million) for the second quarter of 2024, up 23 percent over the comparable 2023 period.

    Gross profit increased to SEK135.2 million, corresponding to a gross margin of 14.3 percent. Adjusted earnings before interest and taxes rose to SEK34.4 million, mainly due to the higher gross margin, increased volume as well as efficiency gains, partially offset by continued investments into additional capabilities.

    The company’s nicotine pouch volume grew by 43 percent over the second quarter of 2023.

    “Haypp group continued to show a very strong performance in the second quarter with YoY Nicotine Pouch volume growth of 43 percent,” said Haypp Group CEO Gavin O’Dowd in a statement.

    “This is accelerating from prior quarters as the category continues to thrive in our growth markets due to the increasing appetite for risk reduced products. While the category experienced some turbulence in the USA during the quarter, we were well positioned and our volume grew around 70 percent. The investments in our business operations have continued to deliver value with an increase of 68 percent in our adjusted EBIT. This robust growth, over many years shows how robust our business is, irrespective of the economic environment.”

    The Haypp Group’s interim report is available here.

  • Haypp Group Confirms Guidance

    Haypp Group Confirms Guidance

    Photo: Andrii

    The Haypp Group, a Swedish online retailer selling reduced-risk products (primarily nicotine pouches and snus in Scandinavia, Europe and the United States), confirmed guidance above consensus during its capital markets day on Nov. 28. The company’s stock was up 12 percent on the day.

    The Haypp Group, which has a market capitalization of approximately $140 million, expects to reach net sales of SEK5 billion ($478.54 million) by 2025 in its existing business through organic growth only. Expansion into adjacent categories and new markets will be “on top,” according to the firm.

    While Haypp Group will continue to prioritize top-line growth, it expects to reach a high single digit adjusted EBIT margin in the current core and growth markets business in 2025.

    To take advantage of its substantial revenue growth opportunities, and after its successful nicotine vaping pilot in the U.K., the Haypp Group plans to enter adjacent markets and reduced-risk product categories in Europe, reinvesting approximately 1 percentage point to 2 percentage points of adjusted EBIT margin through 2025.

    As the board and management team look beyond 2025 and the substantial cash generation, Haypp insists it will maintain its prudent custodianship of the group’s resources and return excess cash to shareholders.

    “We always put the consumer first,” said Haypp Group CEO Gavin O’Dowd in a statement. “We engage with them every day to understand their needs and desires, and we know them like no other actor in the industry. Our vision to ‘Inspire healthier enjoyment for millions’ motivates our team to provide attractive, materially lower risk nicotine options for consumers whilst simultaneously increasing our global presence.”

    The full presentation/webcast is here.

  • UKVIA Marks 100th Member

    UKVIA Marks 100th Member

    Image: ink drop | Adobe Stock

    The U.K. Vaping Industry Association (UKVIA) has welcomed its 100th member, Haypp Group.

    The Swedish company is a market leader in the tobacco-free nicotine pouch e-commerce sector and has now expanded into the vape market by adding this new segment to the range of products on its Haypp.com website last year, according to a UKVIA press release.

    “As a responsible market leader in the online nicotine space, we want to fully participate with the industry, and joining the UKVIA is an obvious and logical decision,” said Markus Lindblad, Haypp’s head of external affairs.

    “We take extra responsibility as a market leader to support the rights of smokers to access better nicotine alternatives and to stand up for them in public debates and be their voice in front of regulators, the media and other stakeholders.

    “We joined the British-Swedish Chamber of Commerce when we started operating in the U.K., and now that we have included vape products to our platform, our UKVIA membership will allow us to better contribute to our industry and the wider society that it serves.”

    “This is a milestone for the organization, and I am delighted to welcome a company as impressive as Haypp to the UKVIA as our 100th member,” said UKVIA Director General John Dunne.

    “This sends an important message to regulators that the UKVIA is a serious organization, made up of serious players who want to act in a responsible way to further technological advances within the industry. This is also our first member to have a suite of reduced-risk products to help adult smokers make the switch from smoking.”