Q4 2025 Scandinavian Tobacco Group A/S Earnings Call Transcript

Mar 5, 2026 / 09:00 AM GMT

Release Date Price: $5.51 (-22.28%)

Transcript

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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