scandinavian tobacco group investor relations A/S 2025 Q4 - Results - Earnings Call Presentation (OTCMKTS:STBGY) 2026-03-05 Scandinavian Tobacco Group: Interview -

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Forecast model & key assumptions Every forecast includes explicit documentation of: Key growth drivers and their assumed impact Restraining factors and mitigation scenarios Regulatory assumptions and policy change risk Technology adoption curve parameter Macroeconomic assumptions (GDP growth, inflation, currency) Competitive dynamics and market entry/exit expectations 6