Scandinavian Tobacco Group Reports $340M in Q3 2024 Sales, XQS Nicotine Pouches Up 72%

Nov.13.2024
Scandinavian Tobacco Group Reports $340M in Q3 2024 Sales, XQS Nicotine Pouches Up 72%
Scandinavian Tobacco Group A/S released their 2024 Q3 financial report, including Mac Baren brand, with a 7.1% sales growth.

On November 12th, Scandinavian Tobacco Group A/S released their financial report for the third quarter of 2024, which included the Mac Baren brand in their full-year performance expectations.

 

The report shows that the company's net sales grew by 7.1% in Q3, reaching DKK 2.4 billion ($340 million). Excluding currency fluctuations, organic net sales decreased by 0.1%. 

 

The cessation of third-party nicotine pouch distribution in the U.S. negatively impacted growth by 1.0%. Growth in machine-made cigars, smoking tobacco, and next-generation products (NGPs) was partially offset by a decline in hand-rolled cigars and accessories. 

 

NGP brand XQS saw a 72% increase, but due to the absence of nicotine pouch distribution, category growth was reduced to 2%.

 

Scandinavian Tobacco Group Reports $340M in Q3 2024 Sales, XQS Nicotine Pouches Up 72%
Translation: Scandinavian Tobacco Group's financial report for Q3 2024 | Image source: Scandinavian Tobacco Group official website

 

The company expects the integration of Mac Baren to be fully effective in the 2027 fiscal year, bringing annual synergies of 150 million Danish Kroner (21.36 million US dollars). In order to achieve the targeted cost synergies, it is expected that there will be a special cost impact of 150 million Danish Kroner in cash.

 

Key highlights from the report include:

 

  • Net sales of DKK 2.431 billion ($340 million) with organic growth of -0.1%.
  • Mac Baren's net sales totaled DKK 159 million ($22.64 million), with EBITDA before special items of DKK 30 million ($4.27 million) and an EBITDA margin of 18.8%.
  • For the first nine months of 2024, net sales grew by 4.5% to DKK 6.7 billion ($950 million), with organic net sales growth of 0.9% and an EBITDA margin of 22.0% (down from 24.6%).

 

The CEO of the company, Niels Frederiksen, said: “With the acquisition of Mac Baren, we are in 2024 on track to surpass DKK 9 billion in net sales for the first time ever and we expect the Mac Baren acquisition to deliver significant synergies as we implement the integration plan."

 

"In the third quarter market share in machine-rolled cigars in Europe stabilized and began to improve and in particular France showed promising progress. XQS performed well in both Sweden and in UK as well as in Denmark where the brand has recently been introduced," he said.  

 

"The remainder of the Growth Enablers also delivered growth. We remain committed to enhancing shareholder returns and we are about to complete our current share buyback, after which we will have returned almost DKK 1.5 billion to shareholders over the course of 2024”.

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Product | PMI Japan Launches SENTIA Passion Fruit Capsule, Expanding the IQOS ILUMA Flavor Portfolio
Product | PMI Japan Launches SENTIA Passion Fruit Capsule, Expanding the IQOS ILUMA Flavor Portfolio
Philip Morris Japan (PM Japan) has introduced SENTIA Passion Fruit Capsule, a new tobacco stick designed for the IQOS ILUMA heated tobacco platform. Featuring a crush-activated capsule, the product combines menthol with passion fruit flavor to provide an additional flavor experience. The product launched in Japan from August 3, 2026, through IQOS official channels, convenience stores and tobacco retailers.
Aug.04
Product | PMI Pilots bonds by IQOS and blends in Japan, Testing a New Heated Tobacco Platform
Product | PMI Pilots bonds by IQOS and blends in Japan, Testing a New Heated Tobacco Platform
Philip Morris International (PMI) has launched a regional pilot of bonds by IQOS and dedicated blends tobacco sticks in Japan, introducing a new heated tobacco platform separate from the IQOS ILUMA ecosystem. The system uses Round Heat Technology with an external heating architecture, differentiating it from IQOS ILUMA’s induction-based platform. The pilot began on July 6, 2026, across three Japanese prefectures: Fukuoka, Saga and Nagasaki.
Jul.30
South Korea Vape Strategies Diverge as BAT Reconsiders Exit and PMI Takes VEEV to About 14,000 Stores
South Korea Vape Strategies Diverge as BAT Reconsiders Exit and PMI Takes VEEV to About 14,000 Stores
BAT Rothmans says it previously considered exiting South Korea's vaping market because of competitive pressure from unregulated products, but is now reassessing conditions following changes to the country's nicotine regulatory framework. Vuse and other BAT vaping products remain available through existing distribution channels. The statement followed a South Korean media report that interpreted BAT's broader withdrawal from selected Vapour markets as a full exit from South Korea. Meanwhile, Philip Morris International launched VEEV inPRIME in the country in June and began expanding distribution to around 14,000 convenience stores and other retail channels in July. The contrasting moves highlight differing investment strategies as South Korea's regulated vaping market evolves.
Aug.14
U.S. House Defense Bill Includes Pilot Review of Vapes, Nicotine Pouches and Heated Tobacco for Military Smokers
U.S. House Defense Bill Includes Pilot Review of Vapes, Nicotine Pouches and Heated Tobacco for Military Smokers
On July 23, 2026, the U.S. House of Representatives passed its version of the Fiscal Year 2027 National Defense Authorization Act (NDAA), which includes Section 707 provisions requiring the Department of Defense to evaluate tobacco use and nicotine alternatives among military personnel. The pilot program would examine products including vapes, nicotine pouches and heated tobacco products, primarily among active-duty service members who continue using combustible tobacco. The provision is a policy evaluation effort, not an authorization for military vaping promotion or a ban on vape products.
Jul.28
Japan’s Heated Tobacco Tax Reform Drives Price Increase as JT Raises All Ploom Sticks by ¥40
Japan’s Heated Tobacco Tax Reform Drives Price Increase as JT Raises All Ploom Sticks by ¥40
Japan Tobacco Inc. (JT) has applied to Japan’s finance minister for approval to revise retail prices of its Ploom heated tobacco sticks following planned changes to the heated tobacco tax system from October 1, 2026. If approved, all 31 Ploom stick products will increase by ¥40. After the adjustment, EVO products will cost ¥620 per 20-stick pack, MEVIUS products ¥590 and CAMEL products ¥570. JT said the price revision is intended to respond to tax changes while maintaining product quality and brand value. The tax reform is expected to narrow the tax gap between combustible cigarettes and heated tobacco products, potentially reshaping pricing strategies in Japan’s heated tobacco market.
Jul.22
French Vape Distributor Kumulus Vape Yields About 3% as Earnings Growth Stalls
French Vape Distributor Kumulus Vape Yields About 3% as Earnings Growth Stalls
Listed French vape distributor Kumulus Vape will trade ex-dividend on June 26, 2026, and pay an annual dividend of €0.10 per share on June 30, with Simply Wall St saying the payout is covered by profit and free cash flow, while weak earnings growth remains a concern.
Industry InsightMarketNews
Jun.24