STGNasdaq CopenhagenTobaccoIFRS · DKK

Scandinavian Tobacco Group A/S

Scandinavian Tobacco Group A/S is a Denmark-based manufacturer and marketer of cigars, pipe tobacco, and related tobacco products. Its business spans branded and private-label products sold through retail, wholesale, and other distribution channels across multiple international markets.

Liikevaihto9 036milj. DKK
−1,8 %v/v
Liikevoitto (EBIT)1 142milj. DKK
−17,2 %v/v
EBIT-marginaali12,6%
−2,4 %-yks.v/v
Nettotulos669milj. DKK
−28,8 %v/v
Vapaa kassavirta596milj. DKK
−38,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2021–2025

02 0004 0006 0008 00010 000milj. DKK2021: 8 233 milj. DKK2021: EBIT 1 814 milj. DKK20212022: 8 762 milj. DKK2022: EBIT 1 953 milj. DKK20222023: 8 731 milj. DKK2023: EBIT 1 638 milj. DKK20232024: 9 202 milj. DKK2024: EBIT 1 380 milj. DKK20242025: 9 036 milj. DKK2025: EBIT 1 142 milj. DKK202512 kk 2026: 8 894 milj. DKK12 kk 2026: EBIT 1 098 milj. DKK12 kk8 8941 098
LiikevaihtoLiikevoitto (EBIT)12 kk = viimeiset 12 kuukautta, ei kokonainen tilikausi

Liiketoiminta

Osuus liikevaihdosta
Cigars45 %

Handmade and machine-made cigars and cigarillos sold under owned and partner brands.

Pipe tobacco20 %

Pipe tobacco products for specialty tobacco consumers and tobacconists.

Fine-cut tobacco15 %

Fine-cut and loose tobacco products used for roll-your-own consumption.

Private label and contract manufacturing15 %

Tobacco products manufactured for retail and wholesale partners under customer brands.

Other tobacco-related products5 %

Smaller product lines, accessories, and distribution-related activities.

Asiakkaat

The company sells primarily to distributors, wholesalers, retail chains, specialty tobacconists, and convenience outlets that stock tobacco products for adult consumers. It also serves private-label and contract customers that source manufacturing capacity and branded assortment from the group. Demand is shaped by consumer preference, brand strength, shelf access, and regulated retail channels.

Wholesale distributors

Buy branded and unbranded tobacco products for onward resale through regional and national networks.

Retail chains and convenience stores

Purchase packaged products for store shelves, where availability, pricing, and brand recognition matter.

Specialty tobacconists

Buy cigars, pipe tobacco, and niche assortments for enthusiast consumers and repeat demand.

Private-label partners

Source manufactured tobacco products under their own brands to expand assortment and margins.

Strategia

The company’s strategy is centered on maintaining strong brand positions in cigars and pipe tobacco while supporting private-label and distribution relationships. It relies on assortment management, channel access, and product execution in regulated markets to protect its position in mature tobacco categories. Geographic breadth and a mix of branded and partner-led revenue help diversify exposure across end markets.

Strengthen branded cigar and pipe tobacco portfoliosKeskipitkä aikaväli

Brand equity supports pricing, shelf presence, and repeat purchases in mature tobacco categories.

Expand private-label and contract manufacturing relationshipsKeskipitkä aikaväli

These relationships can broaden volume, deepen retailer ties, and improve channel penetration.

Optimize geographic and channel mixLyhyt aikaväli

Different countries impose different regulation, taxation, and retail access constraints that affect demand and margins.

Maantiede

Scandinavian Tobacco Group operates internationally, with a Danish corporate base and a broad sales footprint across Europe and the Americas. Its business depends on regulated national tobacco markets, local retail access, and cross-border sourcing and distribution. Because tobacco regulation and excise regimes differ by country, geography is a major driver of demand, product mix, and compliance requirements.

Riskit

The company faces regulatory, excise-tax, and consumer-demand risks typical of tobacco manufacturers, as well as reputation and litigation risks tied to the category. Its international footprint also exposes it to country-specific compliance changes, distribution disruptions, and currency effects. Because the business sells mature nicotine products, long-term volume trends and portfolio execution are central to risk management.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Tobacco regulation and marketing restrictions1Excise tax and affordability pressure2Litigation and product liability3Foreign exchange and cross-border execution4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Tobacco regulation and marketing restrictionsVaikutus: KorkeaTodennäköisyys: Korkea

    Government rules can limit product formats, labels, promotions, and distribution, directly affecting sales channels.

    KohdistuuCigarsPipe tobaccoFine-cut tobacco
  2. Excise tax and affordability pressureVaikutus: KorkeaTodennäköisyys: Korkea

    Higher tobacco taxes can reduce consumer purchases, shift channel mix, and increase price sensitivity.

    Kohdistuu: All tobacco product categories

  3. Litigation and product liabilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Tobacco companies face legal claims and compliance scrutiny that can create costs and uncertainty.

    Kohdistuu: Branded tobacco products

  4. Foreign exchange and cross-border executionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company operates across multiple currencies and jurisdictions, so translation and transaction effects can move reported results.

    Kohdistuu: International sales and sourcing

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition and deductions

Channel incentives, rebates, and trade discounts reduce reported net revenue and require estimation.

Vaikutus: Affects top line and gross margin comparability

Inventory valuation

Finished tobacco products and raw materials may require write-downs if demand weakens or stock ages.

Vaikutus: Affects cost of sales and working capital

Provisions and contingencies

Legal, tax, and regulatory exposures may require estimated liabilities under IFRS.

Vaikutus: Affects operating profit and balance sheet reserves

Foreign currency translation

International operations create translation exposure across revenue, costs, and net assets.

Vaikutus: Affects equity and reported volatility

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.10.2026