Nolato: Strong finish to a shaky year - Introduce

Tuesday, February 11, 2020 8:14 AM
"Q4’19 sales were SEK 2,296m (+10% vs. ABGSCe 2,092m), 22% organic (vs. ABGSCe +11%) with FX impact of 7% y-o-y. Integrated Solutions performed above already optimistic estimates, generating +45% organic sales growth (ABGSCe 28%). As expected, HTP (Heated Tobacco Products) recovered, driven by successful launches of new gen. products, however, resulting from inventory build-up which we expect could continue into FY’20 (though not at similar levels to the launch of the first generation products)."

Link to commissioned research below.