Scandinavian Tobacco Group (STG) reported a 1% decrease in organic net sales for the third quarter of 2022, which is in line with the company's performance expectations for the full year.
According to STG, consumer demand for the company's product categories has remained resilient in recent months. In a press release, the company explained that when combined with robust price management, this has led to a relatively stable organic net sales compared to last year, despite the impact of market disruption in the third quarter prior to the COVID-19 pandemic.
STG has reported that rising costs throughout the value chain, as well as continued promotional pressure from online businesses, are negatively impacting the group's EBITDA profit margin. Despite efforts to increase productivity within its supply chain, STG expects these issues to persist until 2023, partially due to the complexity of its product portfolio.
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