Swedish Match AB (publ) announced unaudited consolidated earnings results for the second quarter and consolidated and parent earnings results for the six months ended June 30, 2018. For the quarter, on consolidated basis, the company reported sales of SEK 3,336 million against SEK 3,053 million a year ago. Operating profit was SEK 1,263 million against SEK 1,091 million a year ago. Profit before income tax was SEK 1,190 million against SEK 1,066 million a year ago. Profit for the period was SEK 928 million against SEK 812 million a year ago. Profit attributable to equity holders of the parent was SEK 928 million against SEK 812 million a year ago. Basic and diluted earnings per share were SEK 5.31 against SEK 4.48 a year ago. Adjusted earnings per share were SEK 5.31 against SEK 4.17 a year ago. EBITDA from product segments was SEK 1,381 million against SEK 1,205 million a year ago.

For the six months, on consolidated basis, the company reported sales of SEK 6,276 million against SEK 5,886 million a year ago. Operating profit was SEK 2,311 million against SEK 2,326 million a year ago. Profit before income tax was SEK 2,165 million against SEK 2,222 million a year ago. Profit for the period was SEK 1,694 million against SEK 1,744 million a year ago. Profit attributable to equity holders of the parent was SEK 1,694 million against SEK 1,744 million a year ago. Basic and diluted earnings per share were SEK 9.67 against SEK 9.56 a year ago. Net cash generated from operating activities was SEK 1,712 million against SEK 1,781 million a year ago. Purchase of property, plant and equipment was SEK 285 million against SEK 172 million a year ago. Purchase of intangible assets was SEK 2 million against SEK 6 million a year ago. Adjusted earnings per share were SEK 9.67 against SEK 7.95 a year ago. Net debt was SEK 10,771 million against SEK 9,226 million a year ago.

For the six months, on parent basis, the company reported sales of SEK 26 million against SEK 22 million a year ago. Operating loss was SEK 86 million against SEK 56 million a year ago. Loss before income tax was SEK 240 million against profit before income tax of SEK 3,530 million a year ago. Loss for the period was SEK 187 million against profit for the period of SEK 3,607 million a year ago.

The effective corporate tax rate in 2018, excluding associated companies and any non-taxable larger one-time items, is expected to be around 21.5% against 23.8% in 2017.