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Philip Morris International (PMI) will host a live audio webcast today at 9:30 a.m. ET to discuss its offer for Swedish Match AB (SWMAY). The session will be led by CEO Jacek Olczak and CFO Emmanuel Babeau, featuring a Q&A for investors. The webcast is accessible on PMI's website and mobile app, with an archived version available until 5:00 p.m. ET on June 9, 2022. PMI is committed to a smoke-free future, having invested over USD 9 billion since 2008 in smoke-free products like IQOS, which has attracted approximately 12.7 million users worldwide.
Philip Morris International (NYSE:PM) announces a recommended public offer to Swedish Match shareholders, offering SEK 106 per share, valuing the deal at approximately SEK 161.2 billion ($16.0 billion). This represents a premium of 39.4% over the last closing price and comes with board support. PMI's CEO emphasizes the strategic rationale behind the merger, aimed at accelerating a smoke-free future. The acceptance period is set to run from June 23 to September 30, 2022, conditional upon acquiring over 90% of shares, with a fairness opinion backing the offer.
Philip Morris International (PMI) has confirmed ongoing discussions with Swedish Match AB (SWMAY) regarding a potential acquisition. The company stated that while talks are progressing, it remains uncertain whether an offer will be made, and PMI will refrain from further comments until appropriate. PMI focuses on delivering a smoke-free future, having invested over USD 9 billion since 2008 in developing smoke-free products. As of March 31, 2022, approximately 12.7 million adults have switched to PMI’s IQOS products globally, excluding Russia and Ukraine.
On April 30, 2021, Swedish Match AB (publ) announced the cancellation of 4.2 million treasury shares as per the resolution from the Annual General Meeting on April 13, 2021. Additionally, the company will execute a 10-for-1 share split, resulting in a new total of 1.58 billion shares post-split. The share capital remains unchanged at 389,515,417.20 SEK, as the decrease from the cancellation was offset by a bonus issue. The last trading day before the split is May 6, 2021, with the split taking effect on May 7, 2021, and a new ISIN code assigned.
Swedish Match reported strong Q1 2021 results, achieving double-digit growth in sales and operating profit across all product segments. Key highlights include:
- Sales increased by 23% in local currencies, reaching 4,455 MSEK.
- Operating profit climbed 40% in local currencies to 2,092 MSEK.
- Profit after tax rose to 1,780 MSEK, a significant increase.
- Earnings per share jumped 57% to 11.25 SEK.
No major COVID-19 disruptions were reported, and the company benefited from favorable shipment timing.
On April 13, 2021, Swedish Match held its Annual General Meeting, approving key items including a 15.00 SEK dividend per share, a 10% share buyback mandate, and a 10:1 share split. The Company plans to withdraw 4.2 million repurchased shares and conducted a capital reduction of 10,086,095.88 SEK. Deloitte AB was elected as auditor until 2022, and the Articles of Association were amended. Shareholders also authorized the Board to issue new shares and transfer treasury shares for strategic investments.
Swedish Match has published its annual report for 2020, detailing its operations, strategy, and financial development. The report is accessible for download on the company's website. This document is vital for investors seeking insights into the company's performance over the past year.
The information was made public in compliance with the Securities Markets Act on March 16, 2021, at 3:00 p.m. CET. For further details, interested parties can access the full report at www.swedishmatch.com/annual-report-2020/.
Swedish Match AB announced that its Annual General Meeting (AGM) will be held on April 13, 2021, adhering to mail-in procedures due to COVID-19. Shareholders must be registered by April 1, 2021, and notify attendance by April 12, 2021. The agenda includes resolutions on financial reports, dividend proposals (15.00 SEK per share), and board elections. The Board proposes a share capital reduction by canceling shares and a bonus issue to maintain capital levels. A 10:1 share split is also proposed to enhance stock liquidity.
Swedish Match reported a strong finish to the year 2020 with record sales and operating profit, largely fueled by high demand for ZYN nicotine pouches in the US. Notable figures include a 15% sales increase in Q4 and a 17% increase for the full year, despite currency challenges. Operating profit rose by 23% in Q4 and 28% for the year. Profit after tax reached 1,244 MSEK in Q4 and 4,888 MSEK for the full year. The Board proposed a higher dividend of 15.00 SEK per share, alongside a 10:1 stock split.
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