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Researchers who have dedicated years to plumbing industry documents made public by lawsuits say Project Cerberus set the stage for global push-back by the industry

Market share in Sweden above 13% Handmade cigars deliver organic net sales growth of 8% EBIT margin in line with last year EBITDA margin before special items was 17.2% (Q1 2025: 16.1%) EBIT margin before special items at 10.4% (Q1 2025: 10.4%) negatively impacted by 0.9% from change in amortization of trademarks Traditionally low first quarter cash flow positively impacted by recovery of receivables Free cash flow before acquisitions was DKK 158 million (Q1 2025: DKK 156 million)