Last $15.88 USD
Change Today +0.19 / 1.21%
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

swedish match ab-unspon adr (SWMAY) Key Developments

Swedish Match Reportedly To Sell STG

Swedish Match AB (OM:SWMA) and Skandinavisk Holding A/S are in talks with private equity firms about sale Scandinavian Tobacco Group A/S (STG), two sources familiar with the matter. CVC Capital Partners Ltd, Rhone Capital, L.L.C. and Pamplona Capital Management LLP were bidding for STG, reported Bloomberg. First round bids are due on December 18, 2014. The process is being run by JP Morgan. BC Partners is also eyeing the sale, one of the sources said.

Swedish Match AB Reports Unaudited Consolidated Earnings Results for the Third Quarter and Consolidated and Parent Earnings Results for the Nine Months Ended September 30, 2014; Provides Tax Rate Guidance for 2014

Swedish Match AB reported unaudited consolidated earnings results for the third quarter and consolidated and parent earnings results for the nine months ended September 30, 2014. For the quarter, on consolidated basis, sales increased by 6% to SEK 3,416 million against SEK 3,230 million last year. Currency translation has affected the sales comparison positively by SEK 77 million. In local currencies, sales increased by 3%. Operating profit increased by 7% to SEK 989 million against SEK 924 million last year. Currency translation has affected the operating profit comparison positively by SEK 24 million. Profit before income tax was SEK 862 million against SEK 782 million last year. Profit for the period attributable to equity holders of the parent was SEK 695 million against SEK 629 million last year. Earnings per diluted share including larger one-time items were SEK 3.49 against SEK 3.14 last year. Earnings per diluted share excluding larger one-time items were SEK 3.49 against SEK 3.14 last year. EBITDA was SEK 1,067 million against SEK 990 million last year. For the nine months, on consolidated basis, sales increased by 4% to SEK 9,769 million against SEK 9,432 million last year. Currency translation has affected the sales comparison positively by SEK 44 million. In local currencies, sales increased by 3%. Operating profit was SEK 2,788 million against SEK 2,923 million last year. Profit before income tax was SEK 2,409 million against SEK 2,507 million last year. Profit for the period attributable to equity holders of the parent was SEK 1,925 million against SEK 2,036 million last year. Earnings per diluted share including larger one-time items were SEK 9.67 against SEK 10.18 last year. Earnings per diluted share excluding larger one-time items were SEK 9.67 against SEK 9.38 last year. Net cash from operating activities was SEK 2,537 million against SEK 2,100 million last year. Purchase of property, plant and equipment was SEK 167 million against SEK 232 million last year. Purchase of intangible assets was SEK 1 million against SEK 30 million last year. The cash flow from operations increased compared to the prior year mainly as a result of improved cash flow from changes in working capital and lower tax payments mainly due to timing. The net debt as of September 30, 2014 amounted to SEK 7,906 million compared to SEK 8,388 million at December 31, 2013. EBITDA was SEK 3,009 million against SEK 2,959 million last year. EBITA was SEK 2,818 million against SEK 2,781 million last year. For the nine months, on parent basis, sales were SEK 35 million against SEK 33 million last year. Operating loss was SEK 104 million against SEK 122 million last year. Loss before income tax was SEK 175 million against profit before income tax of SEK 1,251 million last year. Profit was SEK 17 million against SEK 1,473 million last year. The tax rate for 2014, excluding one-time items as well as associated companies and joint ventures, is expected to be around 22%.

SWMA Mulls Review Of Strategic Options For STG

Swedish Match AB (OM:SWMA) can now sell its 49% of shares in Scandinavian Tobacco Group A/S (STG) at an estimated valued of SEK 7 billion. JP Morgan is said to be reviewing the available options for Swedish Match, either an IPO or a sale.

Swedish Match AB (publ) Reports Consolidated Earnings Results for the Second Quarter and Half Year and Parent Earnings Results for the Half Year Ended June 30, 2014; Provides Tax Rate Guidance for the Year 2014

Swedish Match AB (publ) reported consolidated earnings results for the second quarter and half year and parent earnings results for the half year ended June 30, 2014. For the quarter, on consolidated basis, the company reported sales of SEK 3,339 million compared to SEK 3,220 million for the same period a year ago. Operating profit was SEK 941 million compared to SEK 968 million last year. Profit before income tax was SEK 816 million compared to SEK 830 million last year. Profit was SEK 651 million compared to SEK 667 million last year. Profit attributable to equity holders of the parent was SEK 651 million or SEK 3.27 per basic and diluted share including and excluding larger one-time items compared to SEK 667 million or SEK 3.33 per diluted share including larger one-time items and SEK 3.32 per diluted share excluding larger one-time items last year. Sales, including tobacco tax were SEK 6,603 million compared to SEK 6,430 million last year. EBITDA was SEK 1,013 million compared to SEK 1,031 million last year. For the half year, on consolidated basis, the company reported sales of SEK 6,353 million compared to SEK 6,202 million for the same period a year ago. Operating profit was SEK 1,798 million compared to SEK 1,999 million last year. Profit before income tax was SEK 1,547 million compared to SEK 1,725 million last year. Profit was SEK 1,231 million compared to SEK 1,408 million last year. Profit attributable to equity holders of the parent was SEK 1,231 million or SEK 6.18 per basic and diluted share including and excluding larger one-time items compared to SEK 1,407 million or SEK 7.04 per diluted share including larger one-time items and SEK 6.23 per diluted share excluding larger one-time items last year. Net cash from operating activities was SEK 1,921 million compared to SEK 1,199 million last year. Purchase of property, plant and equipment was SEK 134 million compared to SEK 160 million last year. Sales, including tobacco tax were SEK 12,300 million compared to SEK 12,190 million last year. Net debt was SEK 8,214 million as on June 30, 2014 compared to SEK 9,229 million last year. EBITDA was SEK 1,942 million compared to SEK 1,969 million last year. EBITA was SEK 1,819 million compared to SEK 1,850 million last year. EBITA excluding share of net profit of STG was SEK 1,692 million compared to SEK 1,717 million last year. For the half year, on parent basis, the company reported sales of SEK 22 million compared to SEK 22 million for the same period a year ago. Operating loss was SEK 73 million compared to SEK 75 million last year. Loss before income tax was SEK 86 million compared to profit before tax of SEK 1,598 million last year. Profit was SEK 41 million compared to SEK 1,743 million last year. The tax rate for 2014, excluding one-time items as well as associated companies and joint ventures, is expected to be around 22%.

Swedish Match Submits A Modified Risk Tobacco Product Application

Swedish Match has submitted a Modified Risk Tobacco Product application to the US Food and Drug Administration (FDA) for eight sub-brands in the General snus product line, manufactured by the company. Swedish snus is a unique smokeless product traditionally consumed in Scandinavia and is now available in more than 20,000 stores in the US. The MRTP application seeks a risk modification order permitting the use of warning label statements on the Company's snus tobacco products that differ from those carried by other commercially marketed smokeless tobacco products. In its MRTP application, Swedish Match cites an abundance of Swedish and international evidence on the health effects of snus -- evidence that stretches over three decades and includes governmental cohort studies and clinical trial results.

 

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