swedish match ab (SWMA) Snapshot

Swedish Match AB reported consolidated and parent earnings results for the first quarter ended March 2013. For the quarter, the company's sales increased by 2% to SEK 2,982 million compared to SEK 2,917 million a year ago. In local currencies, sales for the first quarter increased by 5%. Operating profit increased by 6% to SEK 1,031 million compared to SEK 972 million a year ago, and includes an additional capital gain of SEK 159 million on the disposal of the former head office site in Stockholm. EPS (basic) increased by 14% to SEK 3.72 compared to SEK 3.27 a year ago, excluding larger one-time items EPS (basic) declined by 11% to SEK 2.92 compared to SEK 3.27 a year ago. Profit before income tax was SEK 895 million compared to SEK 838 million a year ago. Profit for the period was SEK 741 million compared to SEK 668 million a year ago. Investments in property, plant and equipment during the first quarter amounted to SEK 70 million compared to SEK 39 million a year ago. The net debt as per March 31, 2013 amounted to SEK 8,615 million compared to SEK 8,733 million at March 31, 2012. Net cash from operating activities was SEK 643 million compared to SEK 307 million a year ago. Purchase of intangible assets was SEK 5 million compared to SEK 9 million a year ago. The net debt in relation to EBITDA, excluding share of profit in STG, was SEK 2.4 billion for the 12-month period ending March 31, 2013. For the quarter, on a parent basis, the company’s sales were SEK 13 million compared to SEK 14 million a year ago. Operating loss was SEK 44 million compared to SEK 41 million a year ago. Profit before income tax was SEK 414 million compared to SEK 676 million a year ago. Profit for the period was SEK 490 million compared to SEK 781 million a year ago. The company provided earnings guidance for the year 2013. For the year, the company expects higher sales and operating profit for US cigars driven by strong volume growth. The tax rate for 2013, excluding one-time items as well as associated companies and joint ventures, is expected to be around 22%.

Swedish Match AB announced that at its annual general meeting held on April 25, 2013, the shareholders approved dividend of SEK 7.30 per share. The record date for entitlement to receive a cash dividend is April 30, 2013. The dividend is expected to be paid on May 6, 2013. The shareholders also elected Wenche Rolfsen as new member of the board.

Swedish Match AB Presents at Citi's 2013 Global Consumer Conference, May-30-2013 03:15 PM. Venue: Hilton New York, 1335 6th Ave, New York, NY 10019, United States.