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    Scandinavian Tobacco Group A/S  123  0 Kommentare Annual Report 2020

    Company Announcement
    No. 10/2021

     

                                                                                         Copenhagen, 10 March 2021

    Scandinavian Tobacco Group A/S: Annual Report 2020


    Full year 2020 organic EBITDA growth of 14.0% and free cash flow before acquisitions of DKK 1.4 billion. 2021 organic EBITDA growth expected at >7%.

    For the full year 2020, Scandinavian Tobacco Group A/S delivered net sales of DKK 8,006 million and EBITDA before special items of DKK 1,826 million. This corresponds to 6.6% organic growth in net sales and 14.0% organic growth in EBITDA – and is in line with the financial guidance given 18 December 2020 of >13% organic EBITDA growth. Free cash flow before acquisitions of DKK 1,394 million was higher than expected due to timing of payables. The Board of Directors proposes an ordinary dividend of DKK 6.50 per share for 2020, an increase of 6.6% compared to the ordinary dividend for 2019. This will be supplemented by a share buy-back program of up to DKK 600 million in 2021.

    Highlights 2020

    • Net sales increased by 19.2% to DKK 8,006 million (DKK 6,719 million) with organic growth in net sales of 6.6%
    • EBITDA before special items increased by 20.7% to DKK 1,826 million (DKK 1,513 million) with organic EBITDA growth of 14.0%.
    • Special items were DKK -435 million (DKK -133 million)
    • Net profit decreased to DKK 678 million (DKK 748 million)
    • Adjusted Earnings Per Share increased by 18% to DKK 9.78 (DKK 8.29)
    • Free cash flow before acquisitions was DKK 1,394 million (DKK 1,187 million)

    The COVID-19 pandemic created significant challenges across the entire value chain, but overall Scandinavian Tobacco Group has benefitted from its strong online presence combined with increased consumption of handmade cigars in the US. The integration of Agio Cigars has progressed as planned and delivered the expected synergies and furthermore, the transformational program Fuelling the Growth was completed one year ahead of time. On the back of this, the Group’s 2020 results yielded strong organic EBITDA growth and free cash flow before acquisitions.

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    Scandinavian Tobacco Group A/S Annual Report 2020 Company AnnouncementNo. 10/2021                                                                                       Copenhagen, 10 March 2021 Scandinavian Tobacco Group A/S: Annual Report 2020 Full year 2020 organic EBITDA growth of 14.0% and …

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