{ "docId": "019de513-902b-7066-8a59-2eecbfd50fc1", "docSlug": "df145f9917cdcd28967f244a7a6bd8bd", "documentTitle": "BAT | Results Presentation Deck | 47 slides", "authorId": "bat", "authorName": "BAT", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2022-07-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 46, "pageCount": 47, "prevPage": 45, "nextPage": 47, "slideType": "appendix", "function": "appendix", "density": "dense", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de513-902b-7066-8a59-2eecbfd50fc1/46", "deckHref": "/decks/019de513-902b-7066-8a59-2eecbfd50fc1", "deckJsonHref": "/decks/019de513-902b-7066-8a59-2eecbfd50fc1.json", "deckAnchorHref": "/decks/019de513-902b-7066-8a59-2eecbfd50fc1#slide-46", "components": [ { "bbox": { "h": 0.06, "w": 0.119, "x": 0.848, "y": 0.036 }, "kind": "image", "text": "BAT A BETTER TOMORROW", "attrs": null, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ff492d50-47ad-494c-9399-458b37534788", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.807, "w": 0.94, "x": 0.029, "y": 0.09 }, "kind": "list", "text": "A1: Adjusting (Adj.)\nAdjusting items represent certain items which the Group considers distinctive based upon their size, nature or incidence.\nA2: Constant currency\nConstant currency - measures are calculated based on the prior year's exchange rate, removing the potentially distorting effect of translational foreign exchange on the Group's results. The Group does not adjust for normal transactional gains or losses in profit from operations which are generated by exchange rate movements.\nA3: Share metrics\nVolume share: The number of units bought by consumers of a specific brand or combination of brands, as a proportion of the total units bought by consumers in the industry, category or other sub-categorisation. Sub categories include, but are not limited to, the total nicotine category, modern oral, vapour, traditional oral or cigarette. Corporate volume share is the share held by BAT Group/Reynolds (US region). Except when referencing particular markets, volume share is based on our key markets (representing over 80% of the Group's cigarette volume).\nValue share: The retail value of units bought by consumers of a particular brand or combination of brands, as a proportion of the total retail value of units bought by consumers in the industry, category or other sub-categorisation in discussion.\nNicotine share: The retail sales volume/value of the nicotine product sold as a proportion of total specified nicotine product volume/value in that market. In the US covers: Combustibles, vapour and total oral.\nA4: Price/Mix\nPrice mix is a term used by management and investors to explain the movement in revenue between periods. Revenue is affected by the volume (how many units are sold) and the value (how much is each unit sold for). Price mix is used to explain the value component of the sales as the Group sells each unit for a value (price) but may also achieve a movement in revenue due to the relative proportions of higher value volume sold compared to lower value volume sold (mix).\nA5: Environmental Targets\nTargets cover: climate change, water and waste, sustainable agriculture. Full details are available from the latest ESG Report\nBritish American Tobacco - Sustainability reporting (bat.com)\nA6: Consumers of Non-Combustible Products\nThe number of consumers of Non-Combustible products is defined as the estimated number of Legal Age (minimum 18 years) consumers of the Group's Non-Combustible products. In markets where regular consumer tracking is in place, this estimate is obtained from adult consumer tracking studies conducted by third parties (including Kantar). In markets where regular consumer tracking is not in place, the number of consumers of Non-Combustible products is derived from volume sales of consumables and devices in such markets, using consumption patterns obtained from other similar markets with adult consumer tracking (utilising studies conducted by third parties including Kantar). The number of consumers is adjusted for those identified (as part of the consumer tracking studies undertaken) as using more than one BAT Brand - referred to as \"poly users\".\nThe number of consumers of Non-Combustible products is used by management to assess the number of consumers using the Group's New Categories products as the increase in Non-Combustible products is a key pillar of the Group's ESG ambition and is integral to the sustainability of our business.\nThe Group's management believes that this measure is useful to investors given the Group's ESG ambition and alignment to the sustainability of the business with respect to the Non-Combustibles portfolio.\nA7: Free Cash Flow\nNet cash generated from operating activities before the impact of trading loans provided to a third party and after dividends paid to non-controlling interests, net interest paid and net capital expenditure.\nA8: Operating Cash Conversion\nNet cash generated from operating activities before the impact of adjusting items and dividends from associates and excluding trading loans to third parties, pension short fall funding, taxes paid and net capital expenditure, as a proportion of adjusted profit from operations.\nA9: Velo advertisement disclaimer (slide 22)\nThis product is not risk-free and contains nicotine, an addictive substance. Comparison based on an assessment of smoke from a scientific standard reference cigarette (approx. 9mg tar) and components released during use of a Velo pouch, in terms of the average of the 9 harmful components the WHO recommends to reduce in cigarette smoke. 18+ only. This product contains nicotine and is addictive.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "00dd9ee5-c8a4-4cfa-b3dd-287f955adf57", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.015, "w": 0.019, "x": 0.953, "y": 0.954 }, "kind": "source-note", "text": "48", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "14d19c4c-704e-4e73-87a2-3f20f278abce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.036, "w": 0.196, "x": 0.059, "y": 0.036 }, "kind": "title", "text": "Appendix", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e9ebb834-dfe0-4864-a205-e4edf9a7730e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 47, "from": 17, "beatId": "1353c14e-e7ab-4ffb-a2ea-672bb8acdfd9", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The remaining slides outline the action plan and progress.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }