Scandinavian Tobacco Group A/S reports strong Q1 results and raises full year guidance Scandinavian Tobacco Group A/S reports strong Q1 results and raises full year guidance
For the first quarter of 2021, Scandinavian Tobacco Group delivered a stronger than expected organic growth in net sales and EBITDA. The results were driven by a continued high demand in handmade cigars in the US, synergies from the integration of Agio Cigars and the transformational programme Fuelling the Growth. Additionally, the results were positively impacted by timing of orders between quarters.
Q1 Highlights
Net sales were DKK 1,883 million (DKK 1,756 million) with 12.5% organic growth.
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If you’re one to smoke an infused cigar by Drew Estate, a coffee-flavored NUB or any other flavored cigar or cigarillo, your days of enjoying cigars like this might be numbered. Today, the U.S. Food & Drug Administration announced a plan to ban all flavored cigars. That ban is part of a larger effort to ban menthol flavoring in cigarettes, the last permissible flavor since all other flavors of cigarettes were banned in 2009.
According to the FDA, the ban on flavored cigarettes inadvertently lead to increased use of flavored cigars. “After the 2009 statutory ban on flavors in cigarettes other than menthol, use of flavored cigars increased dramatically, suggesting that the public health goals of the flavored cigarette ban may have been undermined by continued availability of these flavored cigars,” said the FDA, via a press release issued today.