January – March 2025

• Net sales increased by 22 per cent on a LFL* basis (5 per cent reported) to SEK 923.2mn (877.5). In constant currency, net sales increased by 6 per cent.
• 35 per cent LFL* (10 percent reported) volume growth in the nicotine pouch category during the quarter.
• The gross margin amounted to 18.5 per cent (14.4).
• Adjusted EBITDA amounted to SEK 68.1mn (46.8), corresponding to an adjusted EBITDA margin of 7.4 per cent (5.3).
• Adjusted EBIT amounted to SEK 47.7mn (30.6), corresponding to an adjusted EBIT margin of 5.2 per cent (3.5).
• Operating profit totaled SEK 37.8mn (15.9), including items affecting comparability of SEK 0.0mn (-4.8).
• Profit for the quarter amounted to SEK 30.4mn (12.8).
• Earnings per share before dilution amounted to SEK 1.01 (0.43).
• Number of orders decreased to 1,185 thousand (1,196) with an average order value of SEK 703 (684).
• Active consumers were 553 thousand (548) at the end of the quarter.

*LFL measurement shows growth rates excluding the impact of US Zyn shortage, discontinuation of tobacco sales and state closures

Net sales for the first quarter increased by 22 per cent, on a like-for-like (LFL) basis, to SEK 923mn (878). In constant currency, net sales increased by 6 per cent. Gross profit increased to SEK 171mn (126), corresponding to a gross margin of 18.5 per cent (14.4). Adjusted EBIT for the first quarter increased to SEK 48mn (31). The adjusted EBIT margin increased to 5.2 per cent (3.5).

“Nicotine pouch (NP) volumes increased 35% on a LFL basis and accounted for 63% of Haypp’s oral nicotine volume in the quarter, a shift that further supports the Group’s momentum. The Group expanded margins materially as anticipated, benefiting from mix changes, the Media & Insights business, and scale as the gross margin increased by over 400bps in Q1 2025, with the adj EBIT margin expanding by nearly 170bps. In parallel we continue to invest into our consumer offering inline with our principle of sharing our economies of scale.”, says Haypp Group’s president and CEO Gavin O’Dowd.

The full Q1 report is attached in its entirety to this press release and on the company´s website: https://hayppgroup.com/investor-relations/reports-and-presentations/

Haypp Group will hold a webcast conference call in English at 09.00 am CET today. Haypp Group will be represented by President and CEO Gavin O´Dowd and CFO Peter Deli, who will present the interim report and answer questions.

To join the webcast
https://haypp-group.events.inderes.com/q1-report-2025

To participate in the teleconference:
https://conference.inderes.com/teleconference/?id=5006597

For more information and contact
Markus Lindblad
Head of External Affairs:
+46(0)708153983
markus.lindblad@hayppgroup.com

Erik Bloomquist, CFA
Head of Investor Relations:
+44(0)7525 421 916
erik.bloomquist@hayppgroup.com

FNCA Sweden AB
Certified Advisor

Haypp Group in brief
Haypp Group spearheads the global transformation from smoking to smoke-free alternatives. With origins in Scandinavia, the pioneering markets in smoke-free alternatives, and as a leader in the e-commerce sector, Haypp Group’s mission is to provide the consumers with the best possible products on the market, while we operate with the highest standards of integrity and business ethics, in accordance with applicable regulations. With eleven e-commerce brands, the Haypp Group is present in seven countries serving more than 1,100,000 active consumers in 2024. Haypp Group’s e-commerce sites include, among others https://www.snusbolaget.se/ in Sweden and https://www.northerner.com/ in the USA.