Scandinavian Tobacco Group AS (OTCPK:STBGY)
$ 5.11 +0.10 (+2%) Market Cap: 804.77 Mil Enterprise Value: 1.61 Bil PE Ratio: 7.94 PB Ratio: 0.60 GF Score: 68/100

Q4 2025 Scandinavian Tobacco Group A/S Earnings Call Transcript

Mar 5, 2026 / 09:00 AM GMT
Release Date Price: $5.51 (-22.28%)

Key Points

Positve
  • Scandinavian Tobacco Group AS (SNDVF) reported net sales of 9 billion and 36 million krona, aligning closely with their guidance.
  • The nicotine pouch business showed strong growth, with a 17% organic growth rate and the XS brand delivering 55% organic net sales growth.
  • The company launched a new strategy, Focus 2030, aimed at creating value and improving return on invested capital from 7.9% in 2025 to over 11% by 2030.
  • The company plans to stabilize earnings in the machine rolled cigar and smoking tobacco business while growing the handmade cigar and nicotine pouch segments.
  • The company has a flexible shareholder return policy, with a dividend payout ratio set between 40 to 60% of adjusted earnings per share.
Negative
  • The handmade cigar business faced challenges due to tariffs and lower consumer sentiment in the US, resulting in a 4% decrease in reported net sales.
  • The machine rolled cigar business continued to be under pressure, with a slight negative organic growth in net sales.
  • Free cash flow before acquisition was more than 200 million krona below guidance due to delays in receivables collection from SAP implementation.
  • The company expects a decline in EBIT margin for 2026, reflecting a year of stabilization and continued investment.
  • The leverage ratio increased to 3 times by the end of 2025, above the target of 2.5 times, indicating higher financial risk.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

STOGR.CO - Scandinavian Tobacco Group A/S
Q4 2025 Scandinavian Tobacco Group A/S Earnings Call
Mar 05, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Scandinavian Tobacco Group full year 2025 results conference call and webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone keypad. You will hear an automatic message advising your hand is raised. To withdraw a question, please press 1 and 1 again. If you wish to ask a question via the webcast, please use your Q&A box available on the webcast link any time during the live event. Please be advised that this conference is being recorded. I would now like to hand the conference over to our
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