Interim Report January - September 2000
- Sales increased 22 percent to 8,337 MSEK (6,858)
- Operating income, before items affecting comparability, increased 7 percent to 1,386 MSEK (1,291)
- EBITDA, before items affecting comparability, increased 14 percent to 1,785 MSEK (1,563)
- Operating income for the third quarter, before items affecting comparability, increased 23 percent to 500 MSEK (407)
- EPS for the third quarter is 0.75 SEK (0.56)
- Board proposes mandate to buy back up to a further 10 percent of shares
Swedish Match sales during the first nine months increased by 22 percent, led by organic growth for its snuff business, along with acquired businesses which accounted for 15 percent of the sales increase. Operating income reached 1,386 MSEK (1,291), with all product areas except matches delivering strong performances. Restructuring of match operations continues. For the third quarter 2000, both sales and operating income improved versus the same period last year.
The Company used its mandate to purchase up to 5 percent of outstanding shares, and, combined with the share redemption made earlier in the year, has reduced its number of outstanding shares from 431,339,663 (December 31, 1999) to 383,829,891 (September 30, 2000). At an extraordinary shareholder’s meeting on October 27th, 2000 the Board of Directors of Swedish Match proposes a mandate to repurchase up to another 10 percent of outstanding shares.