Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Search

Scandinavian Tobacco Group Reports Q3 2025 Results and Narrows Full-Year Guidance

Nov.12.2025
Scandinavian Tobacco Group Reports Q3 2025 Results and Narrows Full-Year Guidance
Scandinavian Tobacco Group (STG) reported net sales of DKK 2.4 billion for Q3 2025, in line with last year. EBITDA before special items reached DKK 519 million with a 22.0% margin. Handmade Cigars and Next Generation Products saw organic growth, while Machine-Rolled Cigars and Smoking Tobacco declined. The company narrowed its full-year guidance.

2Firsts, November 12, 2025 — According to Scandinavian Tobacco Group A/S, the company posted net sales of DKK 2.4 billion for the third quarter of 2025, flat year-on-year. EBITDA before special items amounted to DKK 519 million with a 22.0% margin, compared with 23.4% last year. Adjusted EPS was DKK 3.4, and free cash flow before acquisitions reached DKK 173 million.

 

Organic growth was positive in Handmade Cigars and Next Generation Products but negative in Machine-Rolled Cigars and Smoking Tobacco. EBITDA margin for the first nine months stood at 19.9%, down from 22.0% last year.

 

CEO Niels Frederiksen noted that while sales stabilized, margins remained under pressure due to market and product mix as well as intensified promotions. The company will launch its new five-year strategy on November 20, 2025.

 

STG narrowed its full-year 2025 financial guidance to reflect improved visibility and USD developments. Key uncertainties include U.S. consumer sentiment, down-trading, retailer inventory decisions, and USD fluctuations.

 

References:
[1] Scandinavian Tobacco Group A/S Reports Third Quarter 2025 Results and Narrows Expectation Ranges for Full-Year.

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

China Tobacco Regulation Shift：Policy Updates and Market Impact
China Tobacco Regulation Shift：Policy Updates and Market Impact
Survey Shows E-cigarette Use Doubles Among Young Thais
Survey Shows E-cigarette Use Doubles Among Young Thais
Thailand’s latest national health survey shows a sharp increase in e-cigarette use among people under 30, particularly among female adolescents. Researchers found that vaping has not reduced overall tobacco harm and has instead driven growth in new nicotine users, with younger ages of initiation. Public health experts urged sustained enforcement and comprehensive policies centred on banning e-cigarettes, strengthening law enforcement and expanding public awareness to protect children and youth.
Dec.19 by 2FIRSTS.ai
Russia’s Rostov Region Eyes Full Vape Sales Ban, Signals Tighter Tobacco Retail Rules
Russia’s Rostov Region Eyes Full Vape Sales Ban, Signals Tighter Tobacco Retail Rules
Russia’s Rostov region is preparing to pursue a region-wide ban on vape sales and is also signaling support for broader regional powers to tighten tobacco retail rules. A regional lawmaker said the initiative aligns with a State Duma bill that would allow regions to impose vape sales bans—an initiative he said has presidential backing.
Jan.28 by 2FIRSTS.ai
EVO NXT 2026 Offers Unique Insights Into A Dynamic Industry
EVO NXT 2026 Offers Unique Insights Into A Dynamic Industry
Feb.09
Guam names retailers fined for selling tobacco to under-21 customers; penalties range from $2,000 to $4,000
Guam names retailers fined for selling tobacco to under-21 customers; penalties range from $2,000 to $4,000
Guam disclosed enforcement details for its 2025 tobacco retail compliance program, showing a 97.1% compliance rate among 277 inspected retailers. Nine violations were recorded, including eight underage sales cases and one signage violation, with fines ranging from $500 to $4,000.
Feb.10 by 2FIRSTS.ai
Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World
Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World
As the U.S. nicotine pouch market moves toward regulatory clarity and rapid growth, attention is shifting from demand to execution. In an interview with 2Firsts, U.S.-based manufacturer Rena explains why manufacturing capacity, quality systems, and compliance readiness are becoming decisive factors before the market fully takes off.
Jan.19
South Korea’s President Raises Safety Concerns Over Nicotine Alternatives at Cabinet Meeting
South Korea’s President Raises Safety Concerns Over Nicotine Alternatives at Cabinet Meeting
South Korea’s Cabinet has approved an amendment to the Tobacco Business Act that legally classifies liquid e-cigarettes as tobacco products. Under the revision, any product containing tobacco or nicotine will fall under tobacco regulation, explicitly including synthetic nicotine vapes. The move addresses long-standing regulatory and taxation gaps.
Dec.16 by 2FIRSTS.ai
Related Topics
News Company
Related Read
Survey Shows E-cigarette Use Doubles Among Young Thais
Survey Shows E-cigarette Use Doubles Among Young Thais
2FIRSTS.ai
Russia’s Rostov Region Eyes Full Vape Sales Ban, Signals Tighter Tobacco Retail Rules
Russia’s Rostov Region Eyes Full Vape Sales Ban, Signals Tighter Tobacco Retail Rules
2FIRSTS.ai
EVO NXT 2026 Offers Unique Insights Into A Dynamic Industry
EVO NXT 2026 Offers Unique Insights Into A Dynamic Industry
Guam names retailers fined for selling tobacco to under-21 customers; penalties range from $2,000 to $4,000
Guam names retailers fined for selling tobacco to under-21 customers; penalties range from $2,000 to $4,000
2FIRSTS.ai
Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World
Before the Boom: Why Manufacturing Is Becoming the Deciding Factor in U.S. Nicotine Pouches — An Interview with Rena World
South Korea’s President Raises Safety Concerns Over Nicotine Alternatives at Cabinet Meeting
South Korea’s President Raises Safety Concerns Over Nicotine Alternatives at Cabinet Meeting
2FIRSTS.ai
FOLLOW US ON SOCIAL MEDIA
Contact: info@2firsts.com
Stay up to date.
Submit your email to receive weekly newsletter on the most relevant news of the e-cigarette industry.
© 2026 2FIRSTS. All Right Reserved.
2FIRSTS is only accessible to industry practitioners, researchers, media and other professionals. Access by minors is prohibited.
This website provides services to users outside the Chinese mainland.
English
English
中文