The 23rd Habano Festival Underway in Havana

Habanos S.A. reported on Monday a 2% increase in its revenues during 2022, despite the passage of Hurricane Ian in the island's tobacco-growing areas.

The firm, which markets 27 premium tobacco brands, provided these figures at the opening of the Habano Festival, an annual event that will last until Saturday. This is the first time it is held in person since the beginning of the covid-19 pandemic.

According to the company, this edition will be attended by more than 2,000 participants from 110 countries, as well as 260 exhibitors from 11 nations, 9 % more than in 2020.

During the ribbon cutting of the Festival's trade fair, the Minister of Foreign Trade and Investment, Rodrigo Malmierca, in the presence of Cuban President Miguel Díaz-Canel, stressed that the event is "an ideal framework for technical and commercial exchanges between companies, suppliers and the public."

Some 250 exhibitors from 10 countries will have their own stand at this year's trade fair. These include those from Italy, Hungary, Spain, Panama, Mexico, Costa Rica, Canada, Ecuador and China.

Habanos S.A. closed last year with positive numbers despite the world logistics crisis and the blow of Hurricane Ian in the west of the island, especially the tobacco-growing province of Pinar del Rio.

The Spanish-Cuban company earned 545 million dollars last year, as reported on Monday.

"We are very satisfied. We have many challenges, we are not standing still (...) the great news is that demand continues to grow," José María López Inchaurbe, vice-president of development of the company, said at a press conference.

According to the company's figures, Europe continues to be the main buyer of Havana cigars, with 54%, followed by the Asia-Pacific region with 19%, the Americas with 15% and Africa with 12%.