Swedish Match Sells Almost NOK 1.5 Billion Worth of Snuff, Matches, and Lighters in 2022

Snuff giant Swedish Match sold snuff, matches and lighters for almost NOK 1.5 billion in 2022.

The snuff manufacturer ended up with a profit before tax of NOK 91.6 million in 2022, which is a decrease from NOK 112.5 million, the company’s annual result shows.

Swedish Match is the market leader in snus in Norway and Sweden, with just under half of the market.

Sales revenue last year was around NOK 1.5 billion, a decrease from NOK 1.9 billion in 2021. This corresponds to a fall of 20.4 per cent.

An increasingly smaller proportion of the Norwegian population smokes, while there has been a stable proportion who snuff, according to figures Statistics Norway submitted earlier this year.

– Our figures confirm the trend in the market that snus is about to completely replace cigarettes on the Norwegian market, and with a vision of a world without cigarettes, nothing pleases me more, says Geir Hammer, CEO of Swedish Match Norway to E24 .

He explains that they are well satisfied with the accounting figures, and emphasizes that 2022 is the first normal year after the pandemic.

– The normalization is also the reason why the 2022 figures are somewhat lower compared to the previous year, says Hammer.

Towards the end of 2022, Swedish Match was acquired by the tobacco giant Philip Morris International for just under 16 billion dollars.

Phillip Morris is the world’s largest tobacco company and has a market value of around 140 billion dollars, which corresponds to 1,550 billion kroner.