BAT: H1 2023 Results

Top-line1 - Revenue: £13.44Bn (vs. £13.3Bn expected) - Revenue up +2.8% (New Categories up +27.9%) - Revenue from New Categories: 12.3% of total Bottom-line - Adj. Operating Profit: £6.02Bn (vs. £5.9Bn exp.) - Adj. Operating Margin: 44.8% (vs. 44.4% exp.) - Contribution from New Categories: -£12Mn (break-even in sight) –...

PMI: Q2 2023 Results

Key Business Metrics1 Revenue: up +10.5% to $8.97Bn (expected $8.7Bn) Adjusted diluted EPS: up +16.9% to $1.60 (expected $1.48) Total volume: up +3.3% to 188.4Bn (HnB volume: +26.6% to 31.4Bn; cigarette volume: -0.4% to 157Bn) Smoke-free revenue: $3.2Bn => 35.4% of total revenue (2025 target: 50%) Key Highlights - Combustibles:...

Japan Tobacco: Q1 2023 Results

Top-line & Bottom-line results1 Adjusted, at constant currencies; Tobacco only - excluding Pharmaceuticals & Processed Food Revenue +6.3% (positive pricing contributions) Operating profit +4.6% (lower than top-line growth due to the higher supply chain costs) Total Volume +1.3% (combustible volume +1.2%; RRP volume +3%) Ploom X (heated tobacco) Update -...

PMI: Q1 2023 Results

Bottom-line results & Volume progression1 Revenue: up +3.2% to $8.02Bn in Q1 2023 (expected $8.11Bn) Adjusted diluted EPS: down -4.4% to $1.38 in Q1 2023 (expected $1.34) Total volume: down -1.1% to 171.1Bn units in Q1 2023 (HnB volume: +10.4% to 27.4Bn; +16% adj.) Smoke-free revenue: $2.8Bn => 34.9% of...

Vector Group: Q4 & FY22 Results

Great progress in transitioning Montego brand strategy from volume-based to income-based, resulting in profitability turnaround (recall: Montego is Vector’s largest brand since Q2 2022 and is the second largest discount brand in the USA) In Q3 2022, Vector sold 2.75Bn sticks and generated $378Mn revenue ($137.5/’000) and $88Mn operating income...

Japan Tobacco: FY22 Results

Top-line & Bottom-line results Adjusted, at constant currencies; Tobacco only - excluding Pharmaceuticals & Processed Food Core revenue: up +4.8% (RRP revenue: up +4.4%) Operating profit: up +8.2% Total volume: down -0.5% (combustibles: -0.7%, RRP +10.3%) Key Highlights - Re-defines its corporate purpose as: "Creating fulfilling moments. Creating a better...

KT&G: FY22 Results & Key Developments

In FY22, KT&G posts record earnings, largely on upbeat sales of heat-not-burn tobacco products in Korea & overseas1. Total cigarette and HnB volume reaches 101.5Bn (up +16.5%) and, consequently, KT&G moves above Altria to become world’s 5th largest tobacco company (ex-China). For the tobacco business only, excluding KGC (Korea Ginseng...

BAT: H2 & FY22 Results

Top-line & Bottom-line results Adjusted, at constant currencies Net revenue up +2.3% (New Category net revenue up +37%) Operating profit up +4.3%; operating margin +90 bps EPS up +5.8% Key Highlights New Categories (NC): - BAT now expects NC profitability in 2024, one year ahead of plan - NC revenue:...

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