2026 Q2 -tulosraportti
UUTTA
4 päivää sitten
‧45 min
4,50 DKK/osake
Viimeisin osinko
5,87%Tuotto/v
Tarjoustasot
Ei dataa
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 -tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 -tulosraportti 27.8. | ||
2026 Q1 -tulosraportti 21.5. | ||
2025 Q4 -tulosraportti 5.3. | ||
2025 Q3 -tulosraportti 12.11.2025 | ||
2025 Q2 -tulosraportti 28.8.2025 |
Asiakkaat katsoivat myös
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·2 päivää sittenScandinavian Tobacco Group – Update after Q2 2026💨 I have now reviewed Q2/H1 2026 and updated my estimates. After Q1, my assessment was: stabilization – but not yet improvement. After Q2, I am a bit more positive. FCF before acquisitions has increased by 53.5 % to 422 mio. DKK, Handmade Cigars is growing 6 % organically, XQS is developing positively, and the delayed debtor payments from 2025 have been collected. In addition, STG is selling BREAK/Moro for approx. 1.3 mia. DKK, which could bring leverage down below 2.5x. But the problems are not gone. MRC & Smoking Tobacco continue to fall 4 %, adjusted EPS has fallen 6.4 %, leverage is still 3.0x, and ROIC is only 7.7 % against the Focus2030 target of over 11 %. My updated levels Fair Value (DCF): approx. 92 DKK Bear: 50 DKK / Base: 92 DKK / Bull: 130 DKK 12-month price target: 90 DKK Base case: 90–95 DKK Bull case: 115–120 DKK Bear case: approx. 60 DKK At approx. 77 DKK, STG trades around 7.3x adjusted EPS and 6.3x EV/EBITDA. The stock is still cheap – but cheap is not the same as risk-free. My preferred Buy Zone is 64–72 DKK, especially 67–70 DKK. Management is now crucial The most important thing for me in the coming quarters will actually be management. 2025-FCF was a serious misfire, and it cost credibility. Q2 gives management some credit back: receivables have come in, cash flow has improved, guidance is maintained, and BREAK/Moro shows real willingness to change the portfolio. But I am not ready to give management a free pass. ROIC has fallen to 7.7 %. MRC continues to lose ground. It is now the task of the CEO, CFO, and the board to prove that Focus2030 can create economic value – not just impressive strategic objectives. I therefore see the development as follows: Q4 2025: low point → Q1: stabilization → Q2: first signs of improvement → next test: management's execution. My assessment remains: BUY – MODERATE / ACCUMULATE ON WEAKNESS 12-month price target: 90 DKK The strategy is in place. Now the burden of proof lies with management. They must deliver higher FCF, EPS, and especially ROIC. And as always: I am a happy amateur investor who has gotten a bit too much time on my hands in my old age – so take it all with a grain of salt 😉
I don't think the report was convincing. FCF has largely come from receivables. The margin and revenue fell. I personally don't understand how they will achieve their guidance. I am keeping the position, and believe it is undervalued, but not to such an extent that I jump in with both feet.
·27.8.STG delivered a solid Q2 with clear signs of stabilization. Handmade Cigars continues to grow, XQS is developing positively, and Focus2030 is starting to be visible in the numbers: stabilize legacy, grow Handmade Cigars and accelerate nicotine pouches. Expectations for 2026 are maintained, including FCF of DKK 950–1,200 million and an EBIT margin of 13.0–14.5%. On a tariff one-off adjusted, more normalized cash flow basis, I estimate STG at around DKK 0.85–0.95 billion in recurring FCF. This means that the stock continues to trade at approximately 6–7x FCF, while a more normalized fair price at 10x FCF is around DKK 105–115 per share. And with 6% in dividend😎👍 Lets go!
Those who have held the stock for a longer time probably bought it because of the dividend, and one must pay tax at some point, unless one is only interested in how high the level is in the cash reserves😎
·26.8.We are expected to earn approx 10kr/share this year Debt will go down The dividend will not be bad
- ·24.8.I have a very hard time understanding that STG has not long since broken through price 100. It must come very soon....
I believe that the most significant factor for a large increase will be that Augustinus Fonden has as a stated goal over time to acquire the companies they own a part of.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
2026 Q2 -tulosraportti
UUTTA
4 päivää sitten
‧45 min
4,50 DKK/osake
Viimeisin osinko
5,87%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·2 päivää sittenScandinavian Tobacco Group – Update after Q2 2026💨 I have now reviewed Q2/H1 2026 and updated my estimates. After Q1, my assessment was: stabilization – but not yet improvement. After Q2, I am a bit more positive. FCF before acquisitions has increased by 53.5 % to 422 mio. DKK, Handmade Cigars is growing 6 % organically, XQS is developing positively, and the delayed debtor payments from 2025 have been collected. In addition, STG is selling BREAK/Moro for approx. 1.3 mia. DKK, which could bring leverage down below 2.5x. But the problems are not gone. MRC & Smoking Tobacco continue to fall 4 %, adjusted EPS has fallen 6.4 %, leverage is still 3.0x, and ROIC is only 7.7 % against the Focus2030 target of over 11 %. My updated levels Fair Value (DCF): approx. 92 DKK Bear: 50 DKK / Base: 92 DKK / Bull: 130 DKK 12-month price target: 90 DKK Base case: 90–95 DKK Bull case: 115–120 DKK Bear case: approx. 60 DKK At approx. 77 DKK, STG trades around 7.3x adjusted EPS and 6.3x EV/EBITDA. The stock is still cheap – but cheap is not the same as risk-free. My preferred Buy Zone is 64–72 DKK, especially 67–70 DKK. Management is now crucial The most important thing for me in the coming quarters will actually be management. 2025-FCF was a serious misfire, and it cost credibility. Q2 gives management some credit back: receivables have come in, cash flow has improved, guidance is maintained, and BREAK/Moro shows real willingness to change the portfolio. But I am not ready to give management a free pass. ROIC has fallen to 7.7 %. MRC continues to lose ground. It is now the task of the CEO, CFO, and the board to prove that Focus2030 can create economic value – not just impressive strategic objectives. I therefore see the development as follows: Q4 2025: low point → Q1: stabilization → Q2: first signs of improvement → next test: management's execution. My assessment remains: BUY – MODERATE / ACCUMULATE ON WEAKNESS 12-month price target: 90 DKK The strategy is in place. Now the burden of proof lies with management. They must deliver higher FCF, EPS, and especially ROIC. And as always: I am a happy amateur investor who has gotten a bit too much time on my hands in my old age – so take it all with a grain of salt 😉I don't think the report was convincing. FCF has largely come from receivables. The margin and revenue fell. I personally don't understand how they will achieve their guidance. I am keeping the position, and believe it is undervalued, but not to such an extent that I jump in with both feet.
- ·27.8.STG delivered a solid Q2 with clear signs of stabilization. Handmade Cigars continues to grow, XQS is developing positively, and Focus2030 is starting to be visible in the numbers: stabilize legacy, grow Handmade Cigars and accelerate nicotine pouches. Expectations for 2026 are maintained, including FCF of DKK 950–1,200 million and an EBIT margin of 13.0–14.5%. On a tariff one-off adjusted, more normalized cash flow basis, I estimate STG at around DKK 0.85–0.95 billion in recurring FCF. This means that the stock continues to trade at approximately 6–7x FCF, while a more normalized fair price at 10x FCF is around DKK 105–115 per share. And with 6% in dividend😎👍 Lets go!Those who have held the stock for a longer time probably bought it because of the dividend, and one must pay tax at some point, unless one is only interested in how high the level is in the cash reserves😎
- ·26.8.We are expected to earn approx 10kr/share this year Debt will go down The dividend will not be bad
- ·24.8.I have a very hard time understanding that STG has not long since broken through price 100. It must come very soon....I believe that the most significant factor for a large increase will be that Augustinus Fonden has as a stated goal over time to acquire the companies they own a part of.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Ei dataa
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 -tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 -tulosraportti 27.8. | ||
2026 Q1 -tulosraportti 21.5. | ||
2025 Q4 -tulosraportti 5.3. | ||
2025 Q3 -tulosraportti 12.11.2025 | ||
2025 Q2 -tulosraportti 28.8.2025 |
2026 Q2 -tulosraportti
UUTTA
4 päivää sitten
‧45 min
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 -tulosraportti 12.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 -tulosraportti 27.8. | ||
2026 Q1 -tulosraportti 21.5. | ||
2025 Q4 -tulosraportti 5.3. | ||
2025 Q3 -tulosraportti 12.11.2025 | ||
2025 Q2 -tulosraportti 28.8.2025 |
4,50 DKK/osake
Viimeisin osinko
5,87%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·2 päivää sittenScandinavian Tobacco Group – Update after Q2 2026💨 I have now reviewed Q2/H1 2026 and updated my estimates. After Q1, my assessment was: stabilization – but not yet improvement. After Q2, I am a bit more positive. FCF before acquisitions has increased by 53.5 % to 422 mio. DKK, Handmade Cigars is growing 6 % organically, XQS is developing positively, and the delayed debtor payments from 2025 have been collected. In addition, STG is selling BREAK/Moro for approx. 1.3 mia. DKK, which could bring leverage down below 2.5x. But the problems are not gone. MRC & Smoking Tobacco continue to fall 4 %, adjusted EPS has fallen 6.4 %, leverage is still 3.0x, and ROIC is only 7.7 % against the Focus2030 target of over 11 %. My updated levels Fair Value (DCF): approx. 92 DKK Bear: 50 DKK / Base: 92 DKK / Bull: 130 DKK 12-month price target: 90 DKK Base case: 90–95 DKK Bull case: 115–120 DKK Bear case: approx. 60 DKK At approx. 77 DKK, STG trades around 7.3x adjusted EPS and 6.3x EV/EBITDA. The stock is still cheap – but cheap is not the same as risk-free. My preferred Buy Zone is 64–72 DKK, especially 67–70 DKK. Management is now crucial The most important thing for me in the coming quarters will actually be management. 2025-FCF was a serious misfire, and it cost credibility. Q2 gives management some credit back: receivables have come in, cash flow has improved, guidance is maintained, and BREAK/Moro shows real willingness to change the portfolio. But I am not ready to give management a free pass. ROIC has fallen to 7.7 %. MRC continues to lose ground. It is now the task of the CEO, CFO, and the board to prove that Focus2030 can create economic value – not just impressive strategic objectives. I therefore see the development as follows: Q4 2025: low point → Q1: stabilization → Q2: first signs of improvement → next test: management's execution. My assessment remains: BUY – MODERATE / ACCUMULATE ON WEAKNESS 12-month price target: 90 DKK The strategy is in place. Now the burden of proof lies with management. They must deliver higher FCF, EPS, and especially ROIC. And as always: I am a happy amateur investor who has gotten a bit too much time on my hands in my old age – so take it all with a grain of salt 😉I don't think the report was convincing. FCF has largely come from receivables. The margin and revenue fell. I personally don't understand how they will achieve their guidance. I am keeping the position, and believe it is undervalued, but not to such an extent that I jump in with both feet.
- ·27.8.STG delivered a solid Q2 with clear signs of stabilization. Handmade Cigars continues to grow, XQS is developing positively, and Focus2030 is starting to be visible in the numbers: stabilize legacy, grow Handmade Cigars and accelerate nicotine pouches. Expectations for 2026 are maintained, including FCF of DKK 950–1,200 million and an EBIT margin of 13.0–14.5%. On a tariff one-off adjusted, more normalized cash flow basis, I estimate STG at around DKK 0.85–0.95 billion in recurring FCF. This means that the stock continues to trade at approximately 6–7x FCF, while a more normalized fair price at 10x FCF is around DKK 105–115 per share. And with 6% in dividend😎👍 Lets go!Those who have held the stock for a longer time probably bought it because of the dividend, and one must pay tax at some point, unless one is only interested in how high the level is in the cash reserves😎
- ·26.8.We are expected to earn approx 10kr/share this year Debt will go down The dividend will not be bad
- ·24.8.I have a very hard time understanding that STG has not long since broken through price 100. It must come very soon....I believe that the most significant factor for a large increase will be that Augustinus Fonden has as a stated goal over time to acquire the companies they own a part of.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Ei dataa
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Välittäjätilasto
Dataa ei löytynyt