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2020-08-18

Scandinavian Tobacco Group A/S announces new financial reporting structure

 Company Announcement

No. 18/2020

                                                                    Copenhagen 18 August 2020

Scandinavian Tobacco Group A/S announces new financial reporting structure In order to increase speed to market and unlock synergies, Scandinavian Tobacco Group A/S on 19 May, 2020 announced a new organisational structure with three new commercial divisions. To align financial reporting with the new organisational structure and ensure consistency with internal management reporting, the Group´s external reporting structure has been revised accordingly. Comparative figures have been restated to reflect the new reporting structure. The three divisions are: Division North America Online & Retail includes direct to consumer sales of all product categories sold via the online, catalogue and retail channel in North America. In 2019 North America Online & Retail accounted for 34% of Group net sales, 28% of gross profit before special items and 23% of EBITDA before special items. In 2019 handmade cigars accounted for 83% of divisional net sales. Division North America Branded & Rest of World includes sales of all product categories to wholesalers and distributors that supply retail in US, Canada, Australia, New Zealand, International Sales (Norway, Finland, Switzerland, Israel and Russia), Asia, Global Travel Retail and contract manufacturing for third parties. In 2019 North America Branded & RoW accounted for 36% of Group net sales, 38% of gross profit before special items and 51% of EBITDA before special items. In 2019 handmade cigars accounted for 25% of divisional net sales and machine-made cigars for 29%. Division Europe Branded includes sales of all product categories to wholesalers and distributors that supply retail in Germany, Denmark, Sweden, France, Italy, Belgium, the Netherlands, Luxembourg, Spain, Portugal, as well as the UK & Ireland. In 2019 Europe Branded accounted for 30% of Group net sales, 34% of gross profit before special items and 31% of EBITDA special items. In 2019 machine-made cigars accounted for 69% of divisional net sales. Historical Data Following the new reporting structure, divisional quarterly data for Q1 2018-Q1 2020 are included in this company announcement. The historical data include net sales, gross profit and EBITDA before special items, organic growth in net sales as well as gross margins and EBITDA-margins before special items. The 2020 second quarter results will be announced 28 August 2020. For further information, please contact: Investors: Torben Sand, Head of Investor Relations, phone: +45 5084 7222 or torben.sand@st-group.com Media: Simon Mehl Augustesen, Director of Group Communications, phone: +1 484-379-8725 or simon.augustesen@st-group.com


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