Scandinavian Tobacco Group (STG) AGM 2025 summary

Opening remarks and agenda

• The meeting was convened in accordance with legal and statutory requirements, with English as the official language and Danish summaries provided.

• The agenda included financial review, adoption of the annual report, profit appropriation, remuneration, board elections, auditor appointment, and board/shareholder proposals.

Financial performance review

• Net sales reached DKK 9.2 billion, a record high, with EBITDA before special items at DKK 2.1 billion and net profit of DKK 940 million.

• Free cash flow before acquisitions was DKK 931 million; adjusted earnings per share was DKK 13.7.

• Sales growth was driven by the Mac Baren acquisition and growth enablers, despite margin pressure from investments and market challenges.

• All three commercial divisions reported sales growth, with online and retail channels in North America showing double-digit growth.

Dividend announcements

• Proposed dividend of DKK 8.5 per share, marking the ninth consecutive annual increase, totaling DKK 731 million.

• Share buyback program of DKK 850 million completed, with total capital return close to DKK 1.5 billion in 2024.