British American Tobacco P.l.c. · LSE:BATS
British American Tobacco P.l.c — UBS Global Consumer and Retail Conference 2024
10 slides from British American Tobacco P.l.c's conference presentation, Mar 13, 2024
Slide 1: Building a Smokeless World
Building a Smokeless World UBS Global Consumer and Retail Conference 13 March 2024 Tadeu Marroco – Chief Executive
Slide 2: Important Information
Important Information The information contained in this presentation in relation to British American Tobacco p.l.c. (“BAT”) and its subsidiaries has been prepared solely for use at this presentation. The presentation is not directed to, or intended for distribution to or use by, any person or entity
Slide 3: Important Information
Important Information Forward-looking Statements (continued) Additional information concerning these and other factors can be found in BAT’s filings with the U.S. Securities and Exchange Commission (“SEC”), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtain
Slide 4: Our transformation to A Better Tomorrow
Our transformation to A Better TomorrowTM • 2023 results delivered in-line with our guidance – reflecting the benefit of our global multi-category strategy. • New Categories are now profitable – 2 years ahead of target. • Good progress across six key focus areas – deliver the right balance between g
Slide 5: Resilient FY23 performance, in line with guidance
Resilient FY23 performance, in line with guidance Organic Group Adjusted Adjusted Diluted Revenue* Operating Profit** EPS** (£ bn) (£ bn) (pence) Key performance drivers +3.1% +3.1% +4.0% • Organic New Category revenue* +21.0% • Organic Combustibles revenue* +0.6% 27.5 12.4 12.8 371.4 386.4 • Volume
Slide 6: We are transforming our business rapidly
We are transforming our business rapidly >30% New Category contribution (£bn) Smokeless* revenue in 24 markets 24 16 10 3 Dec'20 Dec'21 Dec'22 Dec'23 Number of markets*** 16.5% Smokeless revenue in FY23 as a % of Group (+170bps vs. FY22)^ * Profitability at category contribution level: Profit from o
Slide 7: Driving sharper execution in six areas of focus
Driving sharper execution in six areas of focus Sharpen execution 1 2 3 4 5 Lead Drive Consistent U.S. Enhance Significantly responsible profitability in combustibles financial strengthen HP New Category New Categories value growth flexibility development NC profitability Volume and value Enhanced P
Slide 8: Strong cash generation – c.£40bn FCF expected over the next 5 years
Strong cash generation – c.£40bn FCF expected over the next 5 years Allocation of free cash flow* • 100% cash conversion (4th consecutive year) • £8.4bn FCF pre-dividend • £26bn returned to shareholders (2019-2023) • Leverage reduced to 2.6x • Committed to rewarding shareholders through enhanced fin
Slide 9: Refining our strategy with new Strategic Pillars
Refining our strategy with new Strategic Pillars A Better Tomorrow™ Building a Switch Smokeless to Better World Quality Sustainable Dynamic Growth Future Business Inspiring New Category Tobacco Harm Reduction Exciting, Winning Innovation & Brands Acceptance Company Managed Combustible Shaping the Op
Slide 10: Appendix
Appendix A1: Adjusting (Adj.) Adjusting items represent certain items which the Group considers distinctive based upon their size, nature or incidence. A2: Constant currency Constant currency – measures are calculated based on the prior year's exchange rate, removing the potentially distorting effec
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