Scandinavian Tobacco Group A/s · OMXCOP:STG
Scandinavian Tobacco Group A/s — Q2 2026 Earnings Presentation
19 slides from Scandinavian Tobacco Group A/s's earnings presentation, Aug 27, 2026
Slide 1: Investor Presentation: Half Year & Second Quarter Results
INVESTOR PRESENTATION HALF YEAR & SECOND QUARTER RESULTS 27 AUGUST 2026
Slide 2: Important Disclosures
IMPORTANT DISCLOSURES FORWARD LOOKING STATEMENTS All statements except for statements of historical fact in this presentation are forward-looking. Forward-looking statements refer to Scandinavian Tobacco Group’s (“STG”) current expectations and projections relating to its financial condition, result
Slide 3: Agenda
AGENDA 01 Half Year 2026 - Highlights Niels Frederiksen, CEO & Marianne Rørslev Bock, CFO 02 Strategy Update & Our Product Categories Niels Frederiksen, CEO 03 Group Financials and Commercial Divisions Marianne Rørslev Bock, CFO 04 Financial Expectations 2026 Niels Frederiksen, CEO 05 Q&A Session 3
Slide 4: Half Year 2026 Highlights
HALF YEAR 2026 HIGHLIGHTS 4
Slide 5: Highlights
HIGHLIGHTS Initial execution of Focus2030 strategy progressing well Solid foundations being laid for future success Business Highlights: • Tobacco categories show signs of stabilisation • Executing the nicotine pouch strategy • Divesting two fine-cut brands Net sales and profit margins stabilising F
Slide 6: H1 & Q2 2026 Results
H1 & Q2 2026 RESULTS FURTHER PROGRESS WITH INITIAL FOCUS2030 EXECUTION Net sales EBIT margin FCF before acquisitions Adjusted EPS Growth, constant currencies Before special items Before acquisitions DKK H1: -0.3% H1: 13.8% (13.7%) H1: DKK 422m H1: 4.4 H1 2026 DKK 581m DKK 422m H1 2026 DKK 4,193m H1
Slide 7: Divestment of Fine-Cut Brands
DIVESTMENT OF FINE-CUT BRANDS Agreement signed to divest BREAK and Moro to Japan Tobacco (JT) supporting our strategic agenda and strengthening financial flexibility Transaction value DKK 1.3 billion. Post tax proceeds estimated at DKK 1.0 billion BREAK and Moro accounts for almost 4% of net sales a
Slide 8: Strategy Update and Our Product Categories
STRATEGY UPDATE AND OUR PRODUCT CATEGORIES 8
Slide 9: Our Strategic Priorities
OUR STRATEGIC PRIORITIES STABILISE GROW ACCELERATE MACHINE-ROLLED CIGARS HANDMADE CIGARS NICOTINE POUCHES • Roll-out of Power Brand strategy • Roll-out of Power Brand strategy • Prioritising XQS • MRC & ST gross margin increasing • Adding mint to product portfolio • Category organic net sales • H1 2
Slide 10: Product Categories: Key Financial Data
PRODUCT CATEGORIES: KEY FINANCIAL DATA MACHINE-ROLLED CIGARS HANDMADE CIGARS & SMOKING TOBACCO Q2 Q2 H1 H1 Q2 Q2 H1 H1 2026 2025 2026 2025 2026 2025 2026 2025 Net sales (DKK million) 876 853 1,536 1,526 Net sales (DKK million) 1,138 1,195 2,094 2,206 Organic growth 5% - 6% - Organic growth -4% - -4%
Slide 11: Group Financials and Commercial Divisions
GROUP FINANCIALS AND COMMERCIAL DIVISIONS 11
Slide 12: H1 & Q2 2026 Headline Financials
H1 & Q2 2026 DKK million Q2 2026 Q2 2025 Change H1 2026 H1 2025 Change Headline Financials Net sales reported 2,334 2,361 -1% 4,193 4,335 -3% Gross profit before special items 1,055 1,063 -1% 1,879 1,930 -3% • Exchange rate impacts net sales by -3% in EBITDA before special items 515 499 3% 835 816 2
Slide 13: Commercial Divisions – Key Financial Data
COMMERCIAL DIVISIONS – KEY FINANCIAL DATA EUB NABROW NAOR Q2 2026 Change H1 2026 Change Q2 2026 Change H1 2026 Change Q2 2026 Change H1 2026 Change Net sales (DKK million) 794 -7% 1,424 -7% 793 2% 1,448 0% 746 2% 1,321 -2% Organic growth -7% -8% 3% 4% 4% 4% Gross margin before special items 45.6% -4
Slide 14: Financial Expectations 2026
FINANCIAL EXPECTATIONS 2026 14
Slide 15: FY26 Financial Expectations Maintained
FY26 FINANCIAL EXPECTATIONS MAINTAINED REPORTED EBIT FREE CASH ADJUSTED NET SALES MARGIN* FLOW* EPS GROWTH* Range of Range of DKK 950-1,200 DKK 9-11 -2% to 2% 13.0%-14.5% million * at constant currencies *before special items * before acquisitions and divestments 15
Slide 16: Q&A Session
Q&A SESSION Visit our website for more information: st-group.com 16
Slide 17: Thank You
THANK YOU
Slide 18: 2026 Financial Calendar
2026 FINANCIAL CALENDAR ANNUAL REPORT 2025 Our 2025 Annual Report addresses our financial performance, strategic execution 15 April 2026 26 August 2026 and other important aspects of our business Annual General Meeting Q2 Interim Report operations. 4 March 2026 20 May 2026 11 November 2026 Annual Re
Slide 19: Product Categories, LTM Trends
PRODUCT CATEGORIES, LTM TRENDS Machine-rolled Cigars & Smoking Tobacco Handmade Cigars 3400 49% 4750 56% 55% 47% 4500 3200 54% 45% 4250 53% 43% 52% 3000 4000 41% 51% 3750 50% 2800 39% Next Generation Products 500 45% 400 40% 300 35% 200 30% 100 0 25% 19
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