Press release; Jul 24, 2002 11:54 AM CET

Interim Report January - June 2002

  • Sales increased 4 percent to 6,850 MSEK (6,564)
  • Operating income increased 19 percent to 1,245 MSEK (1,046)
  • Income before taxes increased 19 percent to 1,103 MSEK (930)
  • EBITDA increased 17 percent to 1,590 MSEK (1,357)
  • EPS increased 23 percent to 2.07 SEK (1.68)
  • EPS, excluding amortization, increased to 2.48 SEK (2.06)
  • Total shares outstanding as of June 30, 2002 was 348.3 million (358.5)

Sales for the first six months increased by 4 percent, to 6,850 MSEK (6,564). Currency rates have affected sales negatively by 1 percentage point during the first six months. Organic growth amounted to 5 percent. Sales and operating income increased for smokeless products (snuff and chewing tobacco) as well as cigars and matches.

Operating income grew by 19 percent to 1,245 MSEK (1,046), with the significantly stronger performance versus sales primarily attributable to improved margins in snuff, cigars, and matches.

Net financial expense was -71 MSEK (-70). Net interest expense was -69 MSEK (-70).

Diluted EPS increased 23 percent to 2.07 SEK (1.68). EPS, excluding amortization on intangibles, increased to 2.48 SEK (2.06) or 20 percent.

Summary of Consolidated Income Statement
 

January – June

Full year

MSEK

2002

2001

2001

    
Sales

6,850

6,564

13,635

Operating income excluding items
affecting comparability

1,245

1,046

2,193

Net income for the period

730

621

1,228

 

For further information, please contact:

Lennart Sundén, President and Chief Executive Officeroffice+46 8 658 01 75
Sven Hindrikes, Executive Vice President and Chief Financial Officeroffice+46 8 658 02 82
 mobile +46 70 567 41 76
Bo Aulin, Senior Vice President, Secretary and General Counseloffice+46 8 658 03 64
 mobile+46 70 558 03 64
Emmett Harrison, Vice President, Investor Relationsoffice+46 8 658 01 73
 mobile+46 70 938 01 73
Lin McKinnie, Vice President, Investor Relations (US)office+1 804 302 1912
 mobile+1 917 592 7670