Financial reports
On this page you will find the latest annual and interim report. Reports from 1996 and 1997 respectively, as well as 20-F from 2002 is available on their subpages. As of 2005, reporting is prepared in accordance with International Financial Reporting Standards (IFRS).
2019
Annual report 2019
2019 was a truly outstanding year for Swedish Match. As a pioneer in a dynamic and evolving industry landscape, we were able to both deliver a record financial performance and make substantial investments in the long-term strength of the Group.
- Lars Dahlgren, President and CEO
Interim reports 2019
2018
Annual report 2018
2018 was a successful year for Swedish Match with very healthy growth in sales and operating profit from product segments. While our base businesses in our two largest product segments performed well, our growth initiatives continued to demonstrate very promising developments, with exceptional momentum for ZYN in the US.
- Lars Dahlgren, President and CEO
Interim reports 2018
2017
Annual report 2017
2017 has been a year marked by growth in both sales and operating profit from product areas – a year which has demonstrated the benefits of our strategy and our approach. Investments that we have made within our consumer insights and R&D functions have strengthened our portfolio of smokeless offerings, and we have supplemented organic efforts through acquisitions.
- Lars Dahlgren, President and CEO
Interim reports 2017
2016
Annual report 2016
This has been an eventful and exciting year, with promising developments for innovative smokeless products both in Scandinavia and in markets outside of Scandinavia, a record performance for our cigar business in the US, and the successful IPO and subsequent reduction in ownership of Scandinavia Tobacco Group.
- Lars Dahlgren, President and CEO
Interim reports 2016
2015
Annual report 2015
Much has changed since Swedish Match was listed as a publicly traded company in 1996. Back then, our smokeless tobacco business consisted of chewing tobacco and moist snuff in the US, and snus in Scandinavia. Snus and moist snuff combined were about as big as chewing tobacco in terms of sales, and together, snus and moist snuff accounted for about one-eighth of company sales. Today, Swedish Match is truly a different company with a truly different vision. Dramatically higher sales for snus and moist snuff, an emerging snus business in the US, and opportunities for the introduction and development of traditional and modern forms of smokeless tobacco worldwide are only a few of the phenomenal changes over the years.
- Lars Dahlgren, President and CEO
Interim reports 2015
2014
Annual report 2014
Our vision should be seen as a further clarification of what we stand for. With our new vision, we see the market and its potential as something more, and larger, than simply gaining share in an existing market.
- Lars Dahlgren, President and CEO
Interim reports 2014
2013
Annual report 2013
Swedish Match is dedicated to providing outstanding service to our customers, high quality products to consumers, and as a market leader, continuously innovating and working to remain at the forefront of our industry.
- Lars Dahlgren, President and CEO
Interim reports 2013
2012
Annual report 2012
Our company vision is to be the global smokefree leader, with a mission to responsibly develop, manufacture, market, and sell quality products with market leading brands in the product areas Snus and snuff, Other tobacco products, and Lights, delivering growing and sustainable profits for our shareholders.
- Lars Dahlgren, President and CEO
Interim reports 2012
2011
Annual report 2011
The theme of this year’s annual report is "expanding to new horizons," a phrase that aptly describes much of the activity that has taken place in 2011, and neatly points to our vision. In brief, our vision is to be the global smokefree leader, while also leveraging our strong platforms to maximize long term profitability for Other tobacco products (cigars and chewing tobacco), and maintaining a focus on operational excellence and profitability in our lights businesses.
- Lars Dahlgren, President and CEO
Interim reports 2011
2010
Annual report 2010
Our employees have an exceptional ability to embrace change and promote a culture of openness and trust.
- Lars Dahlgren, President and CEO
Interim reports 2010
2009
Annual report 2009
I am proud of the hard work and commitment from all of our employees to work together to embrace change and promote a culture of openness and trust, making such changes not only possible but successful.
- Lars Dahlgren, President and CEO
Interim reports 2009
2008
Annual report 2008
As the year progressed it became clear that our moist snuff strategies in the US and snus strategies in Sweden were working and delivering solid results.
- Lars Dahlgren, President and CEO
Interim reports 2008
2007
Annual report 2007
Another successful year has passed for Swedish Match and there are many events to report. We completed two significant cigar acquisitions and noted sharply increased sales of our American snuff. Despite significant increases in the tax on snus, our earnings in Scandinavia rose above the preceding year’s level during the second half of the year, which resulted in a gradual improvement in the Group’s operating margin. Our strong market positions and healthy cash flow provide us with excellent opportunities for generating a continued favorable return to our shareholders. Our shareholders can be gratified by a 20.7-percent increase in the share price during 2007.
- Sven Hindrikes, President and CEO
Interim reports 2007
2006
Annual report 2006
Our business environment is constantly changing. Competition is increasing in the markets where we operate. Legislation is being tightened, and people’s attitudes to tobacco use are changing.
- Sven Hindrikes President and CEO
2005
Annual report 2005
Operations during 2005 demonstrated continued market strength and improved margin for out main growth products, snuff and cigars, along with stable and high profitability for chewing tobacco and pipe tobacco, and earnings and margin improvements for both matches and lighters. With strong market positions and solid cash flow, we continue to see significant opportunities in delivering strong returns to our shareholders.
- Sven Hindrikes, President and CEO
2004
Annual report 2004
The year 2004 was yet another strong period for Swedish Match. Earnings and cash flow improved, snuff passed three billion SEK in sales and cigars posted strong growth. With a strong product portfolio, active programs for productivity improvements and a highly solid financial position, we have favorable possibilities to grow further with good profitability and to fulfill the high demands of our shareholders.
- Sven Hindrikes, President and CEO
2003
Annual report 2003
Despite a difficult start, 2003 was a good year for Swedish Match. Markets worldwide began weak. Concern over the situation in Iraq, which escalated into all-out war during the spring, and uncertainty about economic prospects, combined with a depressed stock market, caused consumers and the retail sector to adopt a wait-andsee attitude. New warning texts and changed rules for smokingtobacco packaging were also contributory factors. The slow start was followed by the relatively rapid conclusion of the war, the first signs of an economic upturn and a substantial share-price recovery on the major stock markets.
- Lennart Sundén, President and CEO
2002
Annual report 2002
Swedish Match has built a stable platform for continued longterm growth. The company’s unique expertise in the area of smokeless tobacco products gives shareholders the potential for a substantial increase in value in a world where it is becoming increasingly clear that alternative strategies and products are needed in order to reduce the health risks caused by smoking.
- Lennart Sundén, President and Chief Executive Officer
2001
Annual report 2001
Our expertise in smokeless products gives us great opportunities.
- Lennart Sundén, President and Chief Executive Officer
2000
Annual report 2000
Our strategies have established Swedish Match as the world’s leading niche company in the tobacco industry, a company with good potential for continued profitable growth.
- Lennart Sundén, President and Chief Executive Officer
1999
Annual report 1999
Our strategic work and the increased rate of change have yielded results.
- Lennart Sundén, President and Chief Executive Officer
1998
Annual report 1998
Swedish Match’s income continued to be highly satisfactory in 1998, with an operating margin of about 18 percent and an operating income of almost SEK 1.4 billion. In addition, Swedish Match was able to transfer approximately SEK 1.2 billion to the shareholders during the year in a share redemption program.
- Lennart Sundén, President and Chief Executive Officer
1997
Annual report 1997
As President and CEO of a comparatively young, listed company, with highly dispersed ownership, I find it natural and important to focus on building trust in our business operations, in the marketplace as well as within the company.
- Göran Lindén, President and Chief Executive Officer
1996
Annual report 1996
The hallmark of the 1996 fiscal year was the improvement in Swedish Match's operating income before nonrecurring items, from SEK 1,494 million to SEK 1,723 million, despite virtually unchanged sales revenues, SEK 7,416 million.
- Göran Lindén, President and Chief Executive Officer
