Scandinavian Tobacco Group A/S - Interim report, 1 January-30 September 2019
Copenhagen,14 November 2019
Scandinavian Tobacco Group A/S - Interim report, 1 January-30 September 2019
Scandinavian Tobacco Group delivers organic EBITDA growth of 5.4% and strong cash flow in the third quarter of 2019 Q3 2019 Highlights
- Net sales of DKK 1,846 million (DKK 1,887 million). Organic growth -4.5%
- EBITDA before special items of DKK 446 million (DKK 398 million). Organic growth 5.4%
- EBITDA margin before special items was 24.2% (21.1%). Excluding IFRS 16, the margin improved by 1.9% points
- Free cash flow before acquisitions of DKK 503 million (DKK 327 million)
- Earnings Per Share (EPS) of DKK 1.7 (DKK 2.2). EPS adjusted for special items of DKK 2.6 (DKK 2.4)
- Agreement of the terms and conditions for the acquisition of Royal Agio Cigars
In the third quarter of 2019, Scandinavian Tobacco Group A/S delivered net sales of DKK 1,846 million and EBITDA before special items of DKK 446 million. The quarter delivered positive organic growth in EBITDA of 5.4% with EBITDA margins (excluding IFRS 16) improving by 1.9% driven by Region Smoking Tobacco & Accessories and North America Branded. Organic growth in net sales was negative by 4.5% driven by all divisions. In the first nine months of 2019, the Group reported negative organic net sales growth of 2.4% and organic EBITDA growth of 5.8%, generating a free cash flow before acquisitions of DKK 819 million (DKK 464 million) and an EPS of DKK 4.7 (DKK 5.1). EPS adjusted for special items were DKK 5.9 (DKK 5.4).
CEO of Scandinavian Tobacco Group Niels Frederiksen says: “In the third quarter of the year we deliver organic EBITDA growth of 5.4%, continued margin improvements and a strong free cash flow despite a disappointing development in organic net sales. This follows better than expected progress from our transformational program Fuelling the Growth and continued cash flow focus across our business. During the quarter we were also able to announce our intention to acquire Royal Agio Cigars; a significant step in support of our ambition to become the undisputed leader in cigars and pipe tobacco.”
Financial guidance for 2019
The full-year guidance for free cash flow is revised up and is now about 1 billion from previously >750 million. Special items are expected to be about DKK 200 million. The revised expectation includes transaction costs from the Royal Agio Cigars acquisition of about DKK 20 million, costs for the closure of Scandinavian Tobacco Group Lane Ltd.’s facility in the US of up to DKK 120 million and lower than previously anticipated costs relating to the Fuelling the Growth program. The guidance for organic growth in EBITDA is unchanged.
- >5% organic growth in EBITDA
- Special items of about DKK 200 million
- Free cash flow before acquisitions about 1 billion (previous >DKK 750 million)
In the fourth quarter of 2019, we expect that the development in organic net sales will remain weak.
Conference Call and Webcast A conference call and webcast will be held on 14 November 2019 at 10:00 AM CET. Presentation materials will be available online approximately one hour before the webcast on investor.st-group.com. Dial-in details: Denmark: +45 3272 8042 The UK: +44 (0) 844 571 8892 The US: +1 631 510 7495 Passcode: 3155398 https://edge.media-server.com/m
For further information, please contact: Investors: Torben Sand, Head of Investor Relations, phone: +45 5084 7222 or email@example.com Media: Simon Mehl Augustesen, Director of Group Communications, phone: +45 5084 7211 or firstname.lastname@example.org
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Beter Bed Holding announces sale and lease-back of the distribution centers in Hoogeveen and Nieuw-Vennep6.12.2019 15:00:00 CET | Press release
Highlights: Beter Beheer B.V., the wholly owned subsidiary of Beter Bed Holding, has entered into two separate sale-and-leaseback transactions for its properties in Hoogeveen and Nieuw-Vennep for a cash consideration of in total € 5.1 million. The total book profit on these transactions is circa € 1.6 million after tax. Together with the previously announced sale-and-leaseback transaction of the property in Uden (Linie 27), these transactions show that the Benelux operations of Beter Bed Holding will continue operating in its current logistical structure. These transactions contribute to the improvement of the net debt position of Beter Bed Holding, because the proceeds will be used to repay bank debt. Together with the divestment of Matratzen Concord that was completed on 2 December, these transactions are important steps for the transformation of Beter Bed Holding. John Kruijssen, CEO of Beter Bed Holding, comments: “With these sale-and-leaseback transactions and the divestment of Ma
Changes in ownership6.12.2019 14:43:00 CET | Press release
06 December 2019 Changes in ownership Redbrick Investments S.a.r.l. (Luxemburg) increased its stake in PJSC Acron to 62.65% from 62.48% by purchasing shares from JSC Agronova that decreased its stake to 0.15%. Media contacts: Sergey Dorofeev Anastasiya Gromova Tatiana Smirnova Public Relations Phone: +7 (495) 777-08-65 (ext. 5196) Investor contacts: Ilya Popov Investor Relations Phone: +7 (495) 745-77-45 (ext. 5252) Background Information Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It owns transportation and logistics infrastructure, including three Baltic port terminals and distribution networks in Russia and China. Acron’s subsidi
Viking Cylinders, a Hexagon Ragasco brand joins the Arbor Day Foundation’s Time for Trees™ Initiative6.12.2019 14:10:00 CET | Press release
Viking Cylinders, a Hexagon Ragasco brand, today announced it is joining the Arbor Day Foundation for the launch of its Time for Trees initiative, a commitment to plant 100 million trees in forests and communities worldwide by 2022, alongside its partners. "Every time a consumer switches from a steel tank to a Viking Cylinder, we will plant a tree,” said Sean Ellen, Managing Director of Hexagon Ragasco North America. See attached press release by Hexagon Ragasco for more information. About Hexagon Ragasco Viking Cylinders is the North American brand of Hexagon Ragasco. Hexagon Ragasco is the world's leading producer of composite LPG cylinders with over 16 million units in globally and over 100,000 in the US. The high-volume, highly automated production facility in Raufoss, Norway is the most advanced of its kind world-wide. Hexagon Ragasco's products are unique and provide many advantages over steel cylinders in terms of safety and user-friendliness. Hexagon Ragasco is a wholly-owned s
Sista dag för handel med BTA B i Oboya6.12.2019 13:14:00 CET | Pressemelding
Oboya Horticulture Industries AB: s (” Oboya” eller” Bolaget”) företrädesemission har registrerats vid Bolagsverket. Sista dag för handel i Bolagets betalda tecknade aktier, OBOYA BTA B, är den 11 december 2019. Stoppdag hos Euroclear för växling från BTA till aktier är den 13 december 2019. De nya aktierna beräknas bokas ut på respektive aktieägares VP-konto/depå den 17 december 2019. Efter registrering av företrädesemissionen och den kvittningsemission som offentliggjordes den 25 november 2019 uppgår Oboyas aktiekapital till 1 256 175,08 SEK och antalet B-aktier till 34 485 918. Rådgivare Augment Partners AB är finansiell rådgivare och Hamilton Advokatbyrå KB är legal rådgivare till Oboya i samband med Företrädesemissionen. Aqurat Fondkommission AB agerar emissionsinstitut. För mer information, vänligen kontakta: Robert Wu, VD Oboya Horticulture Industries AB (publ) Tel: + 86 159 6983 5999 E-post: email@example.com Hemsida: www.oboya.se Erik Penser Bank AB är Oboyas Certified Advise
Medtronic Announces Cash Dividend for Third Quarter of Fiscal Year 20206.12.2019 12:45:00 CET | Press release
DUBLIN, Dec. 06, 2019 (GLOBE NEWSWIRE) -- The board of directors of Medtronic plc (NYSE:MDT) today approved the fiscal year 2020 third quarter cash dividend of $0.54 per ordinary share, representing an 8 percent increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in June 2019. Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 42 consecutive years. The dividend is payable on January 17, 2020, to shareholders of record at the close of business on December 27, 2019. About Medtronic Medtronic plc ( www.medtronic.com ), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 count
Oasmia’s rights issue has been oversubscribed6.12.2019 12:25:00 CET | Press release
The preliminary result of the rights issue in Oasmia Pharmaceutical AB (publ) (”Oasmia” or the “Company”), in which the subscription period ended on 4 December 2019, amounts to 198,329,980 shares subscribed for in the rights issue with subscription rights, which corresponds to approximately 99.5 percent of the rights issue. In addition, the Company has received applications to subscribe for 78,277,041 shares without subscription rights, corresponding to approximately 39.3 percent of the rights issue. Thus, the rights issue has been oversubscribed. “I am very pleased with the outcome in the rights issue, and grateful for the support from our shareholders. I’m impressed by the Oasmia team’s performance to, under pressure, show the market their determination to transform Oasmia into a commercial entity with a thrilling agenda going forward”, comments Jörgen Olsson, Chairman of the Board. The preliminary result of the rights issue in Oasmia, in which the subscription period took place from