In the press release, STG CEO Niels Frederiksen commented: “We are able to present a very strong result for the third quarter with double-digit growth in net sales, EBITDA and cash flow – and overall our performance in the first nine months of 2020 has been better than anticipated. However, we maintain our guidance for the full year as we expect our financial performance in the fourth quarter to be negatively impacted by phasing, a temporary increase in the OPEX ratio and strong comparisons numbers.”
For a further look at the STG’s third quarter results, click here. Visit st-group.com for all the latest news from Scandinavian Tobacco Group.
