UK Supreme Reports H1 2024: Vape Sales Drop 13%, ELFBAR & LOST MARY Revenue Hits £30.3M

Nov.28.2024
UK Supreme Reports H1 2024: Vape Sales Drop 13%, ELFBAR & LOST MARY Revenue Hits £30.3M
UK vape distributor Supreme's H1 2024 report shows total revenue up 8% to £113 million. Vape category revenue fell 13% due to the upcoming ban on disposable vapes, while ELFBAR and LOST MARY brand sales grew to £30.3 million.

The UK e-cigarette distributor Supreme has released its half-yearly financial report for the period ending on September 30th. The report shows that revenue increased by 8%, reaching £113 million, compared to £105.1 million for the same period last year, according to a report by Asian Trader on November 27th.

 

Key highlights from the report:

 

  • Vape category revenue was £36.6 million, a 13% drop from £42.1 million last year, mainly due to strategic adjustments ahead of the disposable vape ban set for June 2025.

 

  • Sales of disposable vapes fell by 56% to £4.4 million, while non-disposable product revenue remained steady at £32.2 million.

 

  • Revenue from ELFBAR and LOST MARY disposable vapes totaled £30.3 million, a 15% increase compared to just three months of distribution last year.

 

  • Adjusted EBITDA grew by 22% to £18.5 million, driven by improved gross margins and tight cost control.

 

  • Supreme's non-vape annual revenue now exceeds £100 million, representing about 45% of total revenue.

 

The company also emphasized its shift towards the 88Nic brand, focusing on rechargeable pod systems, 10ml e-liquid refills, and nicotine pouches. These moves align with expected regulatory changes and further underscore Supreme's long-term commitment to supporting vaping as a smoking cessation tool.

 

The company CEO, Sandy Chadha, said: "The strength of our strategy and the proactivity of our teams means we are well-positioned for upcoming changes in the UK vaping sector. Non-disposable vapes account for the majority of our vaping revenue, and we continue to report growth in 10ml e-liquid refills."

 

"Adding well-recognized and trusted brands into Supreme's unrivaled distribution network across UK retail is central to our long-term growth strategy, and this acquisition reaffirms our ability to identify and execute quickly on M&A opportunities."

 

"We have experienced steady growth across our categories whilst seamlessly diversifying our portfolio through the acquisition of Clearly Drinks," Chadha said. "Through the acquisition of Clearly Drinks, we have achieved steady growth across our various product categories while also diversifying our product portfolio. Bringing a well-known and trusted brand into Supreme's distribution network in the UK retail sector is a core part of our long-term growth strategy, and this acquisition once again demonstrates our ability to quickly identify and execute merger and acquisition opportunities.

 

Supreme is projecting revenue of approximately £240 million for the 2025 fiscal year, with adjusted EBITDA of at least £40 million, thanks to sustained strong growth in its core categories and continued market adaptability.

 

Special Report|AIR H1 Revenue Rises 3.7% as Shisha Volumes Fall 9%, Testing Its Shift Beyond Traditional Hookah
Special Report|AIR H1 Revenue Rises 3.7% as Shisha Volumes Fall 9%, Testing Its Shift Beyond Traditional Hookah
AIR’s first half-year results as a listed company offer a new test of how far a traditional hookah business can transform. H1 2026 revenue rose 3.7%, even as Flavored Shisha Molasses shipments fell 9%, with pricing and mix supporting growth. Traditional shisha still generates almost all revenue, while OOKA, Crown Switch, Greentank and U.S. regulatory spending point to accelerating diversification. The next test is whether those investments can become a second business of meaningful scale and profitability.
Capital Markets
Aug.21
Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap
Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap
Philippine lawmakers are considering an overhaul of the country's vape excise-tax regime to eliminate the wide gap between taxes on nicotine salt and freebase nicotine liquids and reduce incentives for misdeclaration. House Bill 5364, filed by Rep. Rufus Rodriguez and Rep. Maximo Rodriguez Jr., would impose a unified ₱10-per-milliliter tax on vapor products, with 5% annual increases beginning in 2027. Rodriguez says the proposal could generate an average ₱6 billion in annual collections from 2027 through 2030. The debate comes as the Philippine government considers tobacco, vape and other health-tax reforms to help offset around ₱66 billion in revenue expected to be forgone under a proposed tax-relief package.
Aug.18
CCPIT Says Trade Friction Index for China-Related Electronics Sector Remains High, With Vape Products Among Areas of Focus
CCPIT Says Trade Friction Index for China-Related Electronics Sector Remains High, With Vape Products Among Areas of Focus
China Council for the Promotion of International Trade (CCPIT) held its July regular press conference on July 31, 2026, releasing the May 2026 Global Economic and Trade Friction Index. CCPIT spokesperson Yang Fan said the global trade friction index stood at 95 in May, remaining at a medium-to-high level. By industry, the electronics sector recorded the highest trade friction index among 13 monitored industries. In China-related trade frictions, the index stood at 93, with electronics products including drones, chips and vape products among areas where friction remained elevated.
Aug.03
Kantar Study Finds More Than 93% of Vape Products in Ukraine Fail Regulatory Requirements
Kantar Study Finds More Than 93% of Vape Products in Ukraine Fail Regulatory Requirements
According to Interfax-Ukraine, a study conducted by market research firm Kantar Ukraine at the request of major tobacco companies found that more than 93% of vape products in Ukraine did not fully comply with regulatory requirements. The research examined product categories, brand distribution and consumer purchasing channels, showing that pod systems and disposable vapes represent major segments of the market, while offline retail remains the dominant purchasing channel. The findings highlight ongoing compliance challenges in Ukraine’s vape market.
Aug.26
Canada Health Minister Says She Is Not Considering Looser Nicotine Pouch Retail Rules as PMI-Linked Group Pushes for Wider Access
Canada Health Minister Says She Is Not Considering Looser Nicotine Pouch Retail Rules as PMI-Linked Group Pushes for Wider Access
Canadian Health Minister Marjorie Michel says she is not considering loosening retail restrictions on nicotine pouches. Canada regulates pouches containing 4 mg or less of nicotine per unit as non-prescription nicotine replacement therapy and requires newer NRT formats such as pouches to be sold from behind pharmacy counters. Meanwhile, Unsmoke Canada, linked to Philip Morris International's Canadian business, is pushing to allow pouches in convenience stores and other general retail outlets. Health Canada also acknowledges continued unauthorized sales, while recent research shows rising pouch use among Canadian youth aged 16 to 19.
Sep.24
PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format
PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format
Philip Morris International is expanding its U.S. ZYN nicotine pouch portfolio with new 1.5 mg and 8 mg strengths and plans to move its core 3 mg and 6 mg dry-pouch products from 15 to 20 pouches per can in the fourth quarter of 2026. ZYN ULTRA is also commercially available, with FDA authorization covering 10 products at 9 mg and one 11 mg Smooth product. PMI U.S. lists the new 1.5 mg and 8 mg strengths as commercially available, but as of September 10 they do not appear on the FDA’s public authorization list. Public materials do not identify which PMTA submissions cover the two new strengths or their current review status.
Sep.11