Branchenriese Altadis verzeichnete im vierten Quartal gemäss MarketWatch einen Gewinnanstieg von 53 Prozent gegenüber des Vorjahresquartals. Insbesondere habe auch der Zigarren-Bereich kräftig zugelegt:

(…) The Dutch Masters and Backwoods brands drove up U.S. cigar sales by 9% in dollar-terms, while the company saw a 13% sales rise coming from its 50% holding in Havana cigars. (…)

Altadis fourth quarter profit up 53%
Cigar sales lift profit; Spanish price war
By Steve Goldstein, MarketWatch
Last Update: 4:12 AM ET Feb 21, 2006

LONDON (MarketWatch) – Altadis, the Franco-Spanish tobacco group in a price war with Altria and Japan Tobacco, on Tuesday unveiled a 53% rise in quarterly profit on improving cigar profitability and recent acquisitions.
Altadis said fourth-quarter profit rose 53% to 154 million euros ($184 million), with sales up 15% to 1.07 billion euros.
Fourth-quarter profit was seen coming in between 144 million and 158 million euros on revenue between 999 million and 1.03 billion euros, according to AFX News-compiled forecasts.
The Dutch Masters and Backwoods brands drove up U.S. cigar sales by 9% in dollar-terms, while the company saw a 13% sales rise coming from its 50% holding in Havana cigars.
Cigarettes sales rose 11% during 2005, as the acquisition of Balkan Star in Russia and exports to the Middle East compensated for declining sales in Spain and France.
Madrid-listed Altadis shares eased 0.1%.
Price cuts – and then hikes
Altadis and Altria Group have been engaged in a price war in Spain, triggered by the Spanish government’s plan and implementation of cigarette tax hikes.
Altadis in early February warned of a hit of 170 million euros on earnings before interest, tax, depreciation and amortization in 2006 due to the price cuts.
Within the last month, the Spanish government has set a minimum tax – and then raised it, to 1.10 euros per packet – and twice increased the value-added-tax on cigarettes, now up to 57% from 55.9% in early February and 54.9% at the start of the year.
The minimum 1.10 euros a pack tax is still below the European Union’s recommended 1.28 euros a pack tax.
After the second hike, Altadis, Altria and Japan Tobacco increased the price of their cigarettes.
Altadis hiked the cost of a pack of 20 Fortuna cigarettes to 2.20 euros from 1.85 euros.
Philip Morris lifted the price of a pack of Marlboro Red cigarettes to 2.75 euros from 2.35 euros, and Japan Tobacco lifted the price a pack of its Camel cigarettes to 2.40 euros from 2 euros.
Still, pre-tax prices for cigarettes are lower in Spain than they were before the government moves.
To return to the pre-Jan. 21 levels when including the impact of the tax hike, Philip Morris would’ve had to set the Marlboro cigarette price at 3.06 euros per pack, according to a research note from Goldman Sachs.
The combined manufacturer and government moves will have the impact of shifting market share in Spain to the higher-end brands, the Goldman Sachs researchers concluded.
Restructuring
Altadis also announced last week plans to cut 233 jobs in Spain and 279 in France.
Those job cuts come on top of an existing plan to slash 1,167 jobs.
The company on Tuesday said it expects to save 136 million euros in 2006, 43 million euros in 2007 and 22 million euros in 2008.