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ANNUAL GENERAL MEETING 2016
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President and CEO Lars Dahlgren
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SUMMARY OF 2015
• Increase in sales and operating profit − Sales increased by 9 percent. In local currencies, sales increased
by 2 percent. − Operating profit from product areas increased by 7 percent.
In local currencies, operating profit from product areas declined by 2 percent.
− Basic EPS amounted to 14.48 SEK.
• An eventful year
− Significant growth of the snus markets in Sweden and Norway. − Stabilized market share in Sweden. − Volume record for cigars in the US. − Consolidation of distribution centers in Sweden. − Dissolution of the joint venture SMPM International. − Preparations for the IPO of STG. − Regulatory developments.
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MARKET SHARE DEVELOPMENT IN SWEDEN
55%
60%
65%
70%
75%
80%
85%
Market share (%), value
Source: Nielsen
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XRANGE
0%
1%
2%
3%
4%
5%
6%
7%
Market share for XRANGE, 4 weeks rolling (volume)
is an innovative snus series at a competitive price. XRANGE was launched in Sweden in April 2015. .
XRANGE
Source: Nielsen
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0
50
100
150
200
250
300
350
2010 2011 2012 2013 2014 2015
Mill
ion
cans
STRONG CATEGORY GROWTH IN SCANDINAVIA DURING 2015
The number of snus users exceeded one million in Sweden for the first time
In Norway, the strong market growth continued
0
10
20
30
40
50
60
70
2010 2011 2012 2013 2014 2015
Mill
ion
cans
Sources: Nielsen and Swedish Match estimates and Ipsos.
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THE WORK TOWARDS OUR VISION CONTRIBUTES TO PUBLIC HEALTH
6%
8%
10%
12%
14%
16%
18%
20%
2010 2011 2012 2013 2014 2015
Sweden Norway
Share of daily smokers in the adult population (%)
Source: Ipsos
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MORE AND MORE REGULATIONS
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REGULATION NEEDS TO ACKNOWLEDGE RELATIVE RISKS
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SWEDISH MATCH’S SNUS STORES
Åre Opened in March 2016
Stockholm Opened in December 2013
Göteborg Opened in June 2015
Strömstad Opened in March 2014
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SNUS EXPANSION CONTINUES IN THE US
Source: Industry estimates
0%
2%
4%
6%
8%
10%
12%
14%
16%
Q12015
Q22015
Q32015
Q42015
Q12016
Category growth by quarter
0%
2%
4%
6%
8%
10%
12%
14%
16%
Q42012
Q12013
Q22013
Q32013
Q42013
Q12014
Q22014
Q32014
Q42014
Q12015
Q22015
Q32015
Q42015
Q12016
Market share for General, 12 weeks rolling
Source: Nielsen
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TEST LAUNCH OF ZYNNT IN THE US
Sales in test stores, cans/store/week • Test of ZYNNT in the US, a nicotine pouch product without tobacco.
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LAUNCH OF CHEW BAGS IN SWITZERLAND
Imports of smokeless products, volume
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Source: Swiss Federal Customs Administration
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MORE RESOURCES BEHIND PRODUCT DEVELOPMENT AND R&D
Product quality and continuous improvement Innovative new products and product concepts
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FDA APPLICATIONS FOR GENERAL SNUS IN THE US
Application for a Modified Risk Tobacco Product (MRTP) classification for General snus
Application to commercialize new snus products with the General brand through the FDA premarket tobacco application (PMTA) pathway
FDA’s decision is expected during 2016
Application approved
Applications to the US Food and Drug Administration (FDA)
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PRODUCT APPLICATIONS FOR GENERAL APPROVED BY FDA
• Swedish Match is the first and only tobacco company in the US to have such an approval from the FDA
“Assuming persons who would have used other US smokeless tobacco products use these product instead,
an individual using these products with reduced nitrosamine levels could decrease the excess cancer risk
by 90 percent compared to use of moist snuff, 67 percent compared to use of chewing tobacco, 38 percent
compared to use of US-style snus, and 92 percent compared to use of dry snuff.”
FDA, November 10, 2015
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