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Tag: Scandinavian

  • Capital Group Has Less Than 5% Voting Rights in Scandinavian

    Capital Group Has Less Than 5% Voting Rights in Scandinavian

    The Capital Group Companies, Inc., the world’s largest active fund manager, reported that it controls 4.91% of the total share capital in Scandinavian Tobacco Group A/S. Capital Group controls 4,226,410 shares. This reporting is in reference to Section 38 of the Danish Act on Capital Markets (kapitalmarkedsloven).

    Scandinavian Tobacco Group has its headquarters in Copenhagen, Denmark, and employs approximately 10,000 people in Europe, the U.S., Canada, the Dominican Republic, Honduras, Nicaragua, Indonesia, and Sri Lanka. 

  • STG Adds Three Flavors to Nicotine Pouch Line

    STG Adds Three Flavors to Nicotine Pouch Line

    Scandinavian Tobacco Group UK has added three fruit-flavored varieties to its XQS nicotine pouch range: Raspberry Blackcurrant, Strawberry Kiwi, and Berrynana Twist. Each product has a nicotine strength of 8 mg, and a suggested retail price of £5.50.

    The launch comes as nicotine pouches have seen 79% annual volume growth to be worth just under £136m, not including online sales. With the disposable vape ban coming into force in June, STG expects nicotine pouch sales will receive a further boost as many vape users look for different next-gen nicotine options.

    STG UK’s head of marketing Prianka Jhingan said the supplier’s sales force would visit stores around the UK to encourage stocking the lines and offer a new countertop merchandising unit to display them.

  • Scandinavian Sales Up, Profits Down

    Scandinavian Sales Up, Profits Down

    Scandinavian Tobacco Group (STG) released its 2024 annual report today, reporting a sales gain of 5.4%, while net profits were down by more than 20%. One of the biggest cigar companies in the world, it saw a 6% sales increase for the year to 9.2 billion Danish kroner ($1.3 billion), compared to 8.7 billion kroner in 2023. Net income, however, dropped for the second straight year to 940 million kroner ($136 million) from 1.2 billion kroner in 2023.

    Last year “was another challenging year with a volatile business environment,” wrote chief executive officer Niels Frederiksen and chairman Henrik Brandt. “The global market for handmade cigars remains dominated by U.S. consumption.” 

    Handmade cigars accounted for 36% of STG’s 2024 revenues, while machine-made cigars and smoking tobacco were 48%.