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Last $29.78 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

swedish match ab (SWMAF) Key Developments

Swedish Match AB Announces Consolidated and Parent Company Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for 2015

Swedish Match AB announced consolidated and parent company earnings results for the first quarter ended March 31, 2015. On consolidated basis, sales for the first quarter increased by 12% to SEK 3,368 million against SEK 3,014 million a year ago. In local currencies, sales increased by 1%. Operating profit amounted to SEK 1,014 million for the first quarter against SEK 858 million a year ago. The operating profit was positively affected by an adjustment of the share of net profit in Scandinavian Tobacco Group (STG) of SEK 56 million relating to a reassessment of useful lives primarily of trademarks in STG. EPS (basic) for the first quarter amounted to SEK 3.68 against SEK 2.91 a year ago. EPS (basic) excluding the STG adjustment amounted to SEK 3.40 against SEK 2.91 a year ago. Profit before income tax was SEK 900 million against SEK 732 million a year ago. Profit for the period was SEK 721 million against SEK 580 million a year ago. Earnings per share, diluted excluding STG adjustment was SEK 3.39 against SEK 2.91 a year ago. Net cash from operating activities was SEK 963 million against SEK 1,027 million a year ago. Purchase of property, plant and equipment was SEK 52 million against SEK 56 million a year ago. Purchase of intangible assets was SEK 6 million. The cash flow from operations decreased compared to the prior year mainly as a result of lower cash flow from changes in working capital. Cash flow from changes in working capital was negatively impacted by timing effects. EBITDA was SEK 1,093 million against SEK 930 million a year ago. The net debt as of March 31, 2015 amounted to SEK 7,548 million compared to SEK 7,533 million at March 31, 2014. EBITA was SEK 1,025 million against SEK 868 million a year ago. Excluding share of net profit in Scandinavian Tobacco Group, EBITA was SEK 877 million against SEK 820 million a year ago. On parent company basis, sales were SEK 13 million, operating loss was SEK 72 million, loss before income tax was SEK 198 million and loss for the period was SEK 144 million against sales of SEK 12 million, operating loss of SEK 32 million, loss before income tax of SEK 288 million and loss for the period of SEK 255 million for the same period a year ago. Based on current exchange rates and particularly the stronger US dollar, currency translation effects on sales and operating profit in 2015 are expected to be positive. Due to the relatively high corporate income tax rate in the US, the strengthening of the US dollar is likely to put upward pressure on the effective corporate tax rate of the Group in 2015 compared to 2014.

Swedish Match AB Approves Dividend Payable on April 30, 2015; Elects Charles A. Blixt and Jacqueline Hoogerbrugge as Members of the Board

Swedish Match AB announced that the annual general meeting held on April 23, 2015, approved to pay a dividend of 7.50 SEK per share. The record day for the right to receive a cash dividend is April 27, 2015 and payment through Euroclear Sweden AB is expected to be made on April 30, 2015. The company also approved that Charles A. Blixt and Jacqueline Hoogerbrugge were elected as new members of the Board.

Swedish Match AB Proposes Dividend, Payable on April 30, 2015

The board of directors of Swedish Match AB at its Annual General Meeting to be held on April 23, 2015, proposed a dividend in the amount of SEK 7.50 per share to be paid to the shareholders and that the remaining profits are carried forward. The proposed record day for the right to receive a cash dividend is April 27, 2015. Payment through Euroclear Sweden AB is expected to be made on April 30, 2015.

Swedish Match Fails To Sell Stake In Scandinavian Tobacco Group

The plans for the sale of Swedish Match AB (OM:SWMA)'s 49% stake in Scandinavian Tobacco Group A/S has come to nothing.

Swedish Match AB Reports Consolidated Earnings Results for the Fourth Quarter and Full Year and Parent Earnings Results for the Full Year Ended December 31, 2014; Proposes Increased Dividend for 2014; Provides Financial Guidance for 2015

Swedish Match AB reported consolidated earnings results for the fourth quarter and full year and parent earnings results for the full year ended December 31, 2014. Sales for the full year increased by 6% to SEK 13,305 million compared to SEK 12,610 million reported a year ago. In local currencies, sales increased by 4%. Operating profit from product areas for the full year increased by 2% to 3,446 million compared to SEK 3,375 million reported a year ago. In local currencies, operating profit from product areas increased by 1%. Operating profit amounted to SEK 3,780 million compared to SEK 3,855 million, including a capital gain of SEK 161 million, reported a year ago. Diluted EPS amounted to SEK 13.23 compared to SEK 13.61 reported a year ago. Diluted EPS, excluding larger one-time items, amounted to SEK 13.22 compared to SEK 12.80 reported a year ago. Cash flow from operating activities for the year amounted to SEK 3,276 million compared to SEK 2,500 million reported a year ago. The cash flow from operations increased compared to the prior year mainly as a result of improved cash flow from changes in working capital. Cash flow from changes in working capital benefited from timing effects in 2014, partly due to trade hoarding of snus in Scandinavia, and was negatively affected by timing effects in 2013. Investments in property, plant and equipment during the year amounted to SEK 223 million compared to SEK 306 million reported a year ago. The net debt as of December 31, 2014 amounted to SEK 8,126 million compared to SEK 8,388 million at December 31, 2013. Profit before income tax was SEK 3,270 million compared to SEK 3,310 million reported a year ago. EBITDA was SEK 4,083 million compared to SEK 3,968 million reported a year ago. EBITA was SEK 3,821 million compared to SEK 3,725 million reported a year ago. Profit attributable to equity holders of the parent was SEK 2,626 million compared to SEK 2,712 million reported a year ago. Purchase of intangible assets was SEK 5 million compared to SEK 35 million reported a year ago. For the fourth quarter, sales rose by 11% to SEK 3,536 million compared to SEK 3,178 million reported a year ago. In local currencies, sales increased by 7%. Operating profit from product areas for the fourth quarter by 8% to SEK 900 million compared to SEK 835 million reported a year ago. In local currencies, operating profit from product areas increased by 4%. Operating profit amounted to SEK 992 million compared to SEK 932 million reported a year ago. Diluted EPS amounted to SEK 3.55 compared to SEK 3.43 reported a year ago. Diluted EPS, excluding larger one-time items, amounted to SEK 3.55 compared to SEK 3.43 reported a year ago. Operating profit was positively affected by trade hoarding of snus in Sweden and Norway but negatively affected by higher costs for Swedish snus outside Scandinavia. Profit before income tax was SEK 861 million compared to SEK 804 million reported a year ago. EBITDA was SEK 1,074 million compared to SEK 1,009 million reported a year ago. Profit attributable to equity holders of the parent was SEK 700 million compared to SEK 375 million reported a year ago. The parent company’s sales for the full year amounted to SEK 48 million compared to SEK 44 million reported a year ago. Profit before income tax amounted to SEK 1,075 million compared to SEK 2,648 million reported a year ago. Net profit for the year amounted to SEK 989 million compared to SEK 2,607 million reported a year ago. The lower net profit for the year mainly pertains to lower dividends from subsidiaries compared to the previous year. Capital expenditures on tangible fixed assets for the year amounted to SEK 1 million. Operating loss was SEK 154 million compared to SEK 169 million reported a year ago. The company generates a substantial share of its sales and operating profit in the US. Based on current exchange rates and particularly the stronger USD, currency translation effects on sales and operating profit in 2015 are expected to be positive. Due to the relatively high corporate income tax rate in the US, the strengthening of the USD is likely to put upward pressure on the effective corporate tax rate of the group in 2015 compared to 2014. The Board proposes an increased dividend to SEK 7.50 compared to SEK 7.30 paid a year ago.

 

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Price/Sales 3.7x
Price/Book 39.7x
Price/Cash Flow 18.5x
TEV/Sales 2.9x
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