Sales up, profit down as Swedish Match pins high hopes on a smoke-free future

Swedish Match has reported 9% growth in global sales in the first nine months of 2021, driven by the performance of its smoke-free portfolio in the US and Scandinavia, but profit and market share have not lived up to the forecast.

The Stockholm-based manufacturer posted SEK13.7bn ($1.60bn) in sales for the first three quarters of the year, up 9% against the same period of 2020. The company’s sales in Q3 2021 were SEK4.78bn ($560m), also a 9% increase.