STG Reports Positive Q2 Financial Results

Scandinavian Tobacco Group A/S (STG)—the parent company of General Cigar Co., Cigars International and others—has announced its financial results for the second quarter of 2018.

In short, the company posted positive results including revenue of DKK 1.78 billion ($278.75 million) and EBITDA of DKK 335 million ($52.46 million). Those numbers represent 1.6 percent and 3.1 percent growth respectively compared to the company’s performance in the second quarter of 2017.

“We delivered a satisfactory result in the second quarter of 2018. In our biggest category, the handmade cigars, we continue to deliver healthy growth rates – and I’m particularly pleased to see the integration of Thompson Cigars running as planned and to report solid sales growth in Thompson Cigars in the first full quarter after the acquisition,” said Niels Frederiksen, ceo of STG, in a statement. “Also, the strong momentum in our ‘other’ category continued while we in the machine-made cigars category still see declining volumes driven by the new excise structures in France.”

STG shares closed at DKK 102.7 ($16.08). It is traded on the NASDAQ Copenhagen.