STOCKHOLM, Sweden, July 24, 2002 (PRIMEZONE) -- Swedish Match:
- Sales increased 4 percent to 6,850 MSEK (6,564)
- Operating income increased 19 percent to 1,245 MSEK (1,046)
- Income before taxes increased 19 percent to 1,103 MSEK (930)
- EBITDA increased 17 percent to 1,590 MSEK (1,357)
- EPS increased 23 percent to 2.07 SEK (1.68)
- EPS, excluding amortization, increased to 2.48 SEK (2.06)
- Total shares outstanding as of June 30, 2002 was 348.3 million
(358.5)
Sales for the first six months increased by 4 percent, to 6,850 MSEK (6,564). Currency rates have affected sales negatively by 1 percentage point during the first six months. Organic growth amounted to 5 percent. Sales and operating income increased for smokeless products (snuff and chewing tobacco) as well as cigars and matches. Operating income grew by 19 percent to 1,245 MSEK (1,046), with the significantly stronger performance versus sales primarily attributable to improved margins in snuff, cigars, and matches. Net financial expense was -71 MSEK (-70). Net interest expense was -69 MSEK (-70). Diluted EPS increased 23 percent to 2.07 SEK (1.68). EPS, excluding amortization on intangibles, increased to 2.48 SEK (2.06) or 20 percent.
Summary of Consolidated Income Statement
January - June Full year
MSEK 2002 2001 2001
Sales 6,850 6,564 13,635
Operating income excluding 1,245 1,046 2,193
items
affecting comparability
Net income for the period 730 621 1,228
For further information, please contact:
Lennart Sunden, President and Chief office +46 8 658 01 75
Executive Officer
Sven Hindrikes, Executive Vice office +46 8 658 02 82
President and
Chief Financial Officer mobile +46 70 567 41 76
Bo Aulin, Senior Vice President, office +46 8 658 03 64
Secretary
and General Counsel mobile +46 70 558 03 64
Emmett Harrison, Vice President, office +46 8 658 01 73
Investor Relations
mobile +46 70 938 01 73
Lin McKinnie, Vice President, office +1 804 302 19 12
Investor Relations (U.S.)
mobile +1 917 592 7670
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