STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Swedish Match (STO:SWMA) anticipates that the financial calendars for Swedish Match and for Scandinavian Tobacco Group (“STG”) will differ. Swedish Match is anticipating that it will release its full year report for 2015 prior to the release of STG’s full year report. Also future reporting release dates may deviate.
According to International Financial Reporting Standards, when reporting dates deviate, the owning entity shall base its reporting on the associated company’s most recent financial statements. Therefore, Swedish Match will from the reporting period ending December 31, 2015, start to report its share of STG’s net profit as well as its share of equity with a one quarter lag.
As a consequence of transitioning to a one quarter lag reporting, Swedish Match will not include in its financial statements for the fourth quarter 2015 any result from its ownership in STG. Instead, Swedish Match will include its share of STG’s net profit for the fourth quarter 2015 in its financial statements for the first quarter 2016.
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Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product areas Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), and Lights (matches, lighters, and complementary products). Production is located in six countries, with sales concentrated in Scandinavia and the US. The Group’s global operations generated sales of 14,303 MSEK for the twelve month period ending 30 September 2015. The Swedish Match share is listed on Nasdaq Stockholm (SWMA).
Swedish Match’s vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket. ___________
Swedish Match AB (publ), SE-118 85 Stockholm, Sweden Visiting address: Sveavägen 44, 8th Floor. Telephone: +46 8 658 0200 Corporate Identity Number: 556015-0756 www.swedishmatch.com
The character of this information is such that it shall be disclosed by Swedish Match AB (publ) in accordance with the Swedish Securities Markets Act. The information was disclosed to the media on 28 January, 2016 at 10.30 a.m. (CET).
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