All statements except for statements of historical fact in this presentation are forward-looking.Forward-looking statements give Scandinavian Tobacco Group's ("STG") current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance as well as business. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained therein. The presentation has not been independently verified and will not be updated.
NIELS FREDERIKSEN
CEO
MARIANNE RØRSLEV BOCK
CFO
TORBEN SAND
Head of Investor Relations
2
Q3 2021 HIGHLIGHTS
Strong financial performance against difficult 2020 comparisons
Negative organic net sales growth of 2.2%, but positive organic EBITDA growth of 0.9%
Agio integration remains on target to deliver DKK 100 million in savings in 2021
Full year 2021 guidance maintained
Net sales
EBITDA before special items
-2.2%
2,400
15%
800
0.9%
60%
1,800
10%
600
40%
1,200
5%
400
20%
600
0%
200
0%
0
-5%
0
-20%
Q3
Q4
Q1
Q2
Q3
Q3
Q4
Q1
Q2
Q2
2020
2020
2021
2021
2021
2020
2020
2021
2021
2021
FCF before acquisitions
800
-7.4%
600
400
200
0
Q3
Q4
Q1
Q2
Q3
2020
2020
2021
2021
2021
Net sales (DKKm)
EBITDA bsi (DKKm)
FCF before acquisitions (DKKm)
(% change vs LY)
Organic net sales growth
Organic EBITDA growth
3
NORTH AMERICA ONLINE & RETAIL
HIGHLIGHTS OF Q3 2021
Consumption of handmade cigars has remained strong in the third quarter of the year.
6% negative organic net sales growth in the third quarter of 2021 reflects the channel shift from online back to retail and comparisons to a very strong 2020. Active customer file remains well above 2019 levels.
Strong growth in retail stores continue, reflecting expansion of retail network and channel shift
Margin development reflects higher sales and marketing related costs as well as the expansion of the retail network
QUARTERLY NET SALES
QUARTERLY EBITDA bsi
1000
-5.7%
30%
200
16.2%
24%
750
20%
150
18%
500
10%
100
12%
250
0%
50
6%
0
-10%
0
0%
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Net sales (DKKm)
Organic net sales growth
EBITDA bsi (DKKm)
EBITDA margin
4
NORTH AMERICA ONLINE & RETAIL
LOOKING AHEAD
Strong consumption of handmade cigars expected to continue though uncertainty remains higher than normal
A substantial part of the active online customers acquired through the pandemic is expected to be retained post COVID-19 through strategic initiatives
Increased promotional activity by competitors continues and puts pressure on margins
A new superstore will open in San Antonio, Texas early 2022 with the longer-term ambition for retail stores still being considered
5
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Scandinavian Tobacco Group A/S published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 08:11:01 UTC.
Scandinavian Tobacco Group A/S is a Denmark-based company engaged in the manufacture of cigars and pipe tobacco. The Company also holds a position in the fine-cut tobacco category in the Scandinavian, the United States and other markets. The Companyâs portfolio contains more than 200 brands, including the Cigar brands Cafe Creme, La Paz, Macanudo, CAO, Partagas (the United States) and Cohiba (the United States); Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.O. Larsen, and Fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns. The Companyâs sales offices are located in North America, Europe, New Zealand and Australia, and it has sales to more than 100 countries around the world.
SCANDINAVIAN TOBACCO GROUP A/S 
