Haypp Group’s CEO Gavin O’Dowd participated in DiTV live stream as quarterly report shows a return to sequential growth in Norway
Today, the 4th of May, the quarterly report for Haypp Group was published. There was a great interest shown from analysts, media, and investors around the report which showed a net sales increase of 16 percent, with an organic sales growth of 6 percent and over 50 percent year-on-year growth in the nicotine pouch category, which constitutes about 40 percent of the volume in the first quarter.
As the quarterly report was published, Haypp Group’s CEO Gavin O’Dowd was invited to participate in DiTV, which is the online streaming channel for Dagens Industri, the largest business newspaper in the Nordic region, to comment on the developments and what can be expected going forward.
“We continue to make strong progress in the nicotine pouch category, particularly in our core markets. The volume of nicotine pouches grew by over 50 percent during the first quarter, and the transformation to this rapidly growing product category runs according to plan. We are also pleased to note that governments across our markets are increasingly adopting the harm reduction perspective”, says Gavin O’Dowd, CEO of Haypp Group.
Questions were raised in regard to Haypp Group’s turnaround in Norway, where CEO Gavin O´Dowd elaborated on how the group is facing challenging comparable figures as Norway experienced a material covid effect during 2021;
“During the first quarter of 2022, we did see a return to sequential growth in Norway. As for year-on-year growth, it’s negative as we are facing though comparable figures due to the positive impact of a closed border and duty-free in 2021”.
The full online stream can be found here.