Interim Report January-September 2000

10/26/2000 7:33 AM EST

Interim Report January - September 2000

* Sales increased 22 percent to 8,337 MSEK (6,858)
* Operating income, before items affecting comparability, increased
7 percent to 1,386 MSEK (1,291)
* EBITDA, before items affecting comparability, increased 14
percent to 1,785 MSEK (1,563)
* Operating income for the third quarter, before items affecting
comparability, increased 23 percent to 500 MSEK (407)
* EPS for the third quarter is 0.75 SEK (0.56)
* Board proposes mandate to buy back up to a further 10 percent of
shares

Swedish Match sales during the first nine months increased by 22 percent,
led by organic growth for its snuff business, along with acquired
businesses which accounted for 15 percent of the sales increase. Operating
income reached 1,386 MSEK (1,291), with all product areas except matches
delivering strong performances. Restructuring of match operations
continues. For the third quarter 2000, both sales and operating income
improved versus the same period last year.
The Company used its mandate to purchase up to 5 percent of outstanding
shares, and, combined with the share redemption made earlier in the year,
has reduced its number of outstanding shares from 431,339,663 (December
31, 1999) to 383,829,891 (September 30, 2000). At an extraordinary
th
shareholder's meeting on October 27 , 2000 the Board of Directors of
Swedish Match proposes a mandate to repurchase up to another 10 percent of
outstanding shares.