Japan Tobacco Inc. · TSE:2914
Japan Tobacco — Q1 2024 Earnings Presentation
13 slides from Japan Tobacco's earnings presentation, May 9, 2024
Slide 1: 2024 First-Quarter Results
JT Group 2024 First-Quarter Results Hiromasa Furukawa JT Group Chief Financial Officer *Please be reminded that the figures shown on these slides may differ from those shown in the financial statements as they are intended to facilitate the reader’s understanding of individual businesses. *For detai
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. These statements appear in a number of places in this document and include statements regarding the intent, belief, or current and future expectations of our management with respect to our business, financial condition
Slide 3: 2024 First-Quarter Consolidated Results: CR and AOP grew both at constant FX and reported basis
2024 First-Quarter Consolidated Results: CR and AOP grew both at constant FX and reported basis 2024 Revenue and AOP* (JPY BN) vs. 2023 Jan-Mar At constant FX • In the tobacco business, solid pricing contributions more than offset the increased investments towards HTS** and the impact of higher inpu
Slide 4: Tobacco Business Volume Performance: Continued market share gains and double-digit RRP volume increase
Tobacco Business Volume Performance: Continued market share gains and double-digit RRP volume increase 2024 Combustibles （BnU） vs. 2023 Jan-Mar • On-going market share momentum across the footprint Total volume 132.9 +2.1% • GFB volume grew by 6.3% fueled by Winston and Camel • Strong volume growth
Slide 5: Tobacco Business Financial Performance: Pricing contribution offsets increased investment and higher costs
Tobacco Business Financial Performance： Pricing contribution offsets increased investment and higher costs 2024 （JPY BN） vs. 2023 Volume Jan-Mar • Negative variance due to unfavorable market mix despite Core revenue 653.3 +12.8% total volume growth at constant FX 617.4 +6.6% Price/Mix AOP 231.9 +3.0
Slide 6: Tobacco Business Results by Cluster
Tobacco Business Results by Cluster ASIA WESTERN EUROPE EMA +7.1% +13.0% +6.9% +9.4% -1.7% +0.2% +5.7% -1.8% -4.5% Total CR AOP Total CR AOP Total CR AOP Volume Volume Volume Total Volume Total Volume Total Volume • Market share gains in the Philippines and • Market share gains in most markets, • Ma
Slide 7: RRP volume: Steady volume growth driven by Ploom X
Tobacco Business RRP volume: Steady volume growth driven by Ploom X RRP volume, BnU Outside Japan Japan • RRP volume growth driven by Ploom X in Japan and incremental contribution from markets launched in 25.2% 2023 2.5 • Ploom X is now available in 17 markets, an increase 0.5 of 4 markets since the
Slide 8: Ploom X global overview: Ongoing share gains in Japan and solid growth in launch markets
Tobacco Business Ploom X global overview Ongoing share gains in Japan and solid growth in launch markets Ploom X SoS in HTS* ** 11.0 Japan 10.7 10.9 Japan Japan 9.6 • Solid market share gains in an 9.4 increasingly competitive HTS segment 8.0 8.2 7.3 7.7 due to aggressive promotions and price 6.6 re
Slide 9: Pharmaceutical and Processed Food Businesses Financial Results
Pharmaceutical and Processed Food Businesses Financial Results Pharmaceutical Business 2024 vs. 2023 Revenue （JPY BN） Jan-Mar variance • Decrease due to the absence of one-time income from licensing of patented JT compounds received in FY 2023, Revenue 23.3 -1.6 despite sales growth in the area of s
Slide 10: Closing remarks
Closing remarks
Slide 11: Closing remarks
Closing remarks 2024 Jan-Mar results • Strong performance driven by pricing contributions in the tobacco business • Additional profit growth from the processed food business 2024 full-year forecasts • Solid business momentum, towards achieving the full-year forecasts Share holders • Continuously ass
Slide 12: Definitions
＜Definitions＞ Operating profit + amortization cost of acquired intangibles arising from business acquisitions + adjusted items (income and costs)* Adjusted operating profit(AOP)： * Adjusted items (income and costs) = impairment losses on goodwill ± restructuring income and costs ± others Constant FX
Slide 13: Definitions
＜Definitions＞ Total volume： The volume of tobacco-based products which excludes contract-manufactured products, waterpipe, RRP devices and related accessories. The shipment volume of combustibles which excludes contract-manufactured products, snus, waterpipe, heated tobacco products and Combustibles