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United Kingdom

British American Tobacco PLC (BATS.L)

BATS.L on London Stock Exchange

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14 Jun 2019
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Latest Key Developments (Source: Significant Developments)

British American Tobacco Says Intends To Consolidate New Category Portfolio Into Fewer Brands
Wednesday, 12 Jun 2019 

June 12 (Reuters) - British American Tobacco Plc ::FIRST HALF PRE-CLOSE TRADING UPDATE 2019.GROUP FULL YEAR (FY) GUIDANCE UNCHANGED.ON TRACK FOR A FY REDUCTION IN CURRENCY-NEUTRAL ADJUSTED NET DEBT/ADJUSTED EBITDA OF C.0.4X.FIRST HALF (H1) NEW CATEGORY REVENUE GROWTH APPROACHING OUR FY GUIDANCE RANGE.US BUSINESS IS PERFORMING WELL WITH GOOD PRICING AND CONTINUED VALUE SHARE GROWTH.BATS SEES ACCELERATION IN H2 NEW CATEGORY REVENUE GROWTH LEADING TO FY GROWTH AROUND MIDDLE OF 30-50% RANGE, ON A CONSTANT CURRENCY BASIS.FY GLOBAL INDUSTRY VOLUME EXPECTED TO BE DOWN AROUND 3.5%.ON TRACK FOR CONSTANT CURRENCY REVENUE GROWTH IN MID-UPPER HALF OF LONG-TERM GUIDANCE RANGE OF 3-5%.CONSTANT CURRENCY ADJUSTED OPERATING PROFIT GROWTH EXPECTED IN UPPER HALF OF LONG-TERM GUIDANCE RANGE OF 5-7% FOR FY.H1 CASH CONVERSION IS EXPECTED TO BE IMPACTED BY TIMING OF MSA PAYMENTS.BUSINESS REMAINS ON TRACK TO DELIVER FY19 FREE CASH FLOW AFTER DIVIDENDS OF £1.5BN.EXPECT FY US INDUSTRY VOLUME TO BE DOWN 4% TO 5%.VYPE EPEN3 CONTINUES TO PERFORM STRONGLY REACHING A VALUE SHARE OF 6.8% IN UK AND 12.1% IN FRANCE.INTEND TO CONSOLIDATE NEW CATEGORY PORTFOLIO INTO FEWER BRANDS .  Full Article

British American Tobacco Expects 2019 To Be Another Year Of Good Earnings Growth
Thursday, 25 Apr 2019 

April 25 (Reuters) - British American Tobacco PLC ::AGM STATEMENT.LOOKING FORWARD TO 2019 WE CAN EXPECT ANOTHER YEAR OF GOOD EARNINGS GROWTH.INVESTOR SENTIMENT OVER LAST YEAR HAS BEEN NEGATIVELY IMPACTED BY CONCERNS OVER POSSIBLE REGULATION IN US.INVESTOR SENTIMENT OVER LAST YEAR HAS BEEN NEGATIVELY IMPACTED BY COMPETITOR DYNAMICS IN NEW CATEGORIES RESULTING IN A SHARP FALL IN SHARE PRICE.IN AUGUST THIS YEAR OUR FINANCE DIRECTOR BEN STEVENS WILL BE RETIRING FOLLOWING A 30-YEAR CAREER AT BAT.BOARD AND NOMINATIONS COMMITTEE WILL BE FOCUSSED ON SUCCESSION PLANNING FOR CHAIRMAN ROLE.STRONG POSITION TO DELIVER LONG-TERM SUSTAINABLE GROWTH, REFLECTED IN CONTINUED ANNUAL DIVIDEND INCREASES.TADEU MARROCO, DIRECTOR OF TRANSFORMATION AND FORMER DIRECTOR OF BOTH BUSINESS DEVELOPMENT AND WESTERN EUROPE, WILL SUCCEED BEN.  Full Article

Chairman Of British American Tobacco Richard Burrows Is To Step Down - Sky News
Monday, 8 Apr 2019 

April 8 (Reuters) - :CHAIRMAN OF BRITISH AMERICAN TOBACCO RICHARD BURROWS IS TO STEP DOWN - SKY NEWS.BOARD OF BRITISH AMERICAN TOBACCO HAS INSTRUCTED HEADHUNTERS AT EGON ZEHNDER INTERNATIONAL TO FIND A SUCCESSOR TO RICHARD BURROWS - SKY NEWS.  Full Article

BAT Makes 436 Mln Stg Provision After Canada Court Ruling
Tuesday, 5 Mar 2019 

March 5 (Reuters) - British American Tobacco PLC ::ACCOUNTING CONSEQUENCES OF QUEBEC JUDGMENT.THERE WILL BE NO IMPACT FROM THE CHARGE TO RATIO OF ADJUSTED NET DEBT TO ADJUSTED EBITDA FROM QUEBEC JUDGMENT.PROVISION OF APPROXIMATELY £436 MILLION WILL BE TREATED AS AN ADJUSTING EXPENSE.ITCAN INTENDS TO SEEK LEAVE TO APPEAL JUDGMENT TO SUPREME COURT OF CANADA.PROVISION OF ABOUT £436 MILLION WILL BE CHARGED TO GROUP'S CONSOLIDATED INCOME STATEMENT IN 2019 IN RELATION TO QUEBEC RULING.  Full Article

BAT FY Adj. EPS 296.7P; FY Rev Rises
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - British American Tobacco PLC ::PRELIMINARY ANNOUNCEMENT - YEAR ENDED 31 DECEMBER 2018.FY EARNINGS PER SHARE 263.2P.FY ADJUSTED EARNINGS PER SHARE 296.7P.FY REVENUE 24,492 MILLION POUNDS AT CONSTANT CURRENCY RATES VERSUS 20,292 MILLION POUNDS AS REPORTED A YEAR EARLIER.OUTPERFORMANCE IN COMBUSTIBLES, WITH MARKET SHARE UP 40 BPS AND STRATEGIC CIGARETTE BRAND VOLUME UP 4.8% IN FY.GROUP CONTINUES TO EXPECT STRONG NEW CATEGORY GROWTH, LEADING TO NEW CATEGORY REVENUE OF £5 BILLION BY 2023/2024.LOOKING INTO 2019, CO CONFIDENT OF ANOTHER YEAR OF HIGH SINGLE FIGURE ADJUSTED CONSTANT CURRENCY EARNINGS GROWTH.BOARD'S PROPOSAL TO INCREASE DIVIDEND BY 4%.FY VOLUME FROM CIGARETTES AND THP GREW 3.3%.FY ADJUSTED REVENUE FROM STRATEGIC PORTFOLIO WAS UP 8.5% ON A CONSTANT RATE BASIS.FY TOTAL CIGARETTE AND THP VOLUME DECLINED 3.5% TO 708 BILLION.DIVIDEND PER SHARE INCREASES 4.0% TO 203.0P, PAYABLE IN FOUR QUARTERLY DIVIDEND PAYMENTS OF 50.75P PER SHARE.RESULTS BENEFITTED FROM FULL YEAR EFFECT OF RAI ACQUISITION, WHICH INCLUDED CERTAIN ACCOUNTING IMPACTS.CONTINUES TO EXPECT TO DELIVER OVER US$400 MILLION OF SYNERGIES BY END OF 2020.DURING 2018, US FDA REGULATORY PROPOSALS CONTRIBUTED TO INCREASED UNCERTAINTY IN US OPERATING ENVIRONMENT.CONFIDENT IN ABILITY TO MANAGE FDA PROPOSALS RELATING TO PROPOSED BAN OF MENTHOL IN CIGARETTES.GROWTH OF VAPOUR IN US AND GROWTH IN GLO, NOTABLY IN JAPAN IN FY.  Full Article

British American Tobacco Says Ben Stevens To Step Down As Finance Director
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - British American Tobacco PLC ::BRITISH AMERICAN TOBACCO ANNOUNCES FINANCE DIRECTOR’S RETIREMENT.BEN STEVENS HAS INFORMED COMPANY OF HIS INTENTION TO STEP DOWN.BEN WILL BE SUCCEEDED AS FINANCE DIRECTOR BY TADEU MARROCO.PRIOR TO APPOINTMENT ON 5 AUGUST 2019, TADEU WILL BE APPOINTED AS DEPUTY FINANCE DIRECTOR WITH EFFECT FROM 1 MARCH 2019.  Full Article

BATS Says Quebec Class Action Judgment Against Imperial Tobacco Canada, Others On Mar. 1
Friday, 22 Feb 2019 

Feb 22 (Reuters) - British American Tobacco PLC ::BRITISH AM. TOBACCO - QUEBEC CLASS ACTION.BAT - QUEBEC COURT OF APPEAL ANNOUNCED THAT JUDGMENT IN QUEBEC CLASS ACTION AGAINST IMPERIAL TOBACCO CANADA, OTHERS WILL BE RENDERED ON MARCH 1.  Full Article

Sequana Updates On Litigation With British American Tobacco
Wednesday, 6 Feb 2019 

Feb 7 (Reuters) - SEQUANA SA ::ANNOUNCED ON WEDNESDAY THAT COURT OF APPEAL IN LONDON CONFIRMS FOR LARGEST PART DECISION MADE IN 1ST INSTANCE BY HIGH COURT OF JUSTICE IN LITIGATION BETWEEN SEQUANA AND BRITISH AMERICAN TOBACCO (BAT) .DECISION ONLY AFFECTS SEQUANA AND HAS NO IMPACT ON ITS SUBSIDIARIES ARJOWIGGINS AND ANTALIS WHICH ARE NOT A PARTY TO THIS LITIGATION .SEQUANA IS CURRENTLY REVIEWING TERMS OF DECISION AND INTENDS TO SEEK PERMISSION TO APPEAL WITH SUPREME COURT.  Full Article

British American Tobacco Announces Management Board Changes
Friday, 14 Dec 2018 

Dec 14 (Reuters) - British American Tobacco PLC ::JSE: BTI - BRITISH AMERICAN TOBACCO ANNOUNCES MANAGEMENT BOARD CHANGES.BRITISH AMERICAN TOBACCO PLC - CHIEF OPERATING OFFICER AND GROUP BUSINESS DEVELOPMENT DIRECTOR WILL CEASE TO EXIST AND ALL FOUR REGIONS.BRITISH AMERICAN TOBACCO PLC - NEW MANAGEMENT BOARD ROLES INCLUDING DIRECTOR, NEW CATEGORIES WILL BE CREATED.BRITISH AMERICAN TOBACCO PLC - MARINA BELLINI WILL BE APPOINTED AS DIRECTOR, DIGITAL AND INFORMATION.BRITISH AMERICAN TOBACCO PLC - PAUL LAGEWEG WILL BE APPOINTED AS DIRECTOR, NEW CATEGORIES.BAT - TADEU MAROCCO, REGIONAL DIRECTOR, EUROPE AND NORTH AFRICA, WILL BE APPOINTED TO A NEW MANAGEMENT BOARD ROLE, DIRECTOR, GROUP TRANSFORMATION.  Full Article

BATS Says FY Forecast Unchanged, De-Leveraging On Track
Wednesday, 12 Dec 2018 

Dec 12 (Reuters) - British American Tobacco PLC ::SECOND HALF PRE-CLOSE TRADING UPDATE 2018.BUSINESS CONTINUES TO PERFORM WELL AND FULL YEAR GUIDANCE REMAINS UNCHANGED.DE-LEVERAGING REMAINS ON TRACK.EXPECTING FY INDUSTRY VOLUME DECLINE AROUND 3.5%.THP AND VAPOUR ON TRACK TO REACH £900M OF FULL YEAR REPORTED REVENUE.US INDUSTRY VOLUME DECLINE REMAINS IN LINE WITH HISTORIC RANGES DOWN 4.4% YTD.CONTINUE TO EXPECT U.S. INDUSTRY CIGARETTE VOLUME TO BE DOWN 4.0% - 4.5% IN 2018.FY ADJUSTED EPS GROWTH EXPECTED TO BE IMPACTED BY CURRENCY TRANSLATION HEADWIND, AROUND 6% FOR FY18, AT CURRENT EXCHANGE RATES.  Full Article

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