{ "docId": "019de517-ee1d-74ef-ae10-6794714f2e99", "docSlug": "169429fd156a26b8c83be31ded1bd958", "documentTitle": "BAT | Results Presentation Deck | 58 slides", "authorId": "bat", "authorName": "BAT", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 58, "pageCount": 58, "prevPage": 57, "nextPage": null, "slideType": "appendix", "function": "appendix", "density": "overcrowded", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de517-ee1d-74ef-ae10-6794714f2e99/58", "deckHref": "/decks/019de517-ee1d-74ef-ae10-6794714f2e99", "deckJsonHref": "/decks/019de517-ee1d-74ef-ae10-6794714f2e99.json", "deckAnchorHref": "/decks/019de517-ee1d-74ef-ae10-6794714f2e99#slide-58", "components": [ { "bbox": { "h": 0.06, "w": 0.1, "x": 0.85, "y": 0.05 }, "kind": "image", "text": null, "attrs": {}, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cd859ae4-5722-41e2-80f1-735c9573472a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.02, "x": 0.95, "y": 0.95 }, "kind": "legend", "text": "58", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "104208ff-2db2-4740-8d83-0dc698a1285c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.91, "x": 0.05, "y": 0.00113 }, "kind": "paragraph", "text": "A11: Smokeless Products\nRefers to Non-Combustibles, including Vapour products, Heated Products, Modern Oral pouches, and Traditional Oral.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "08aec8fa-305c-4e71-995e-1c5356dc447e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.91, "x": 0.05, "y": 0.4 }, "kind": "paragraph", "text": "A4: 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\nvalue 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).", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "08fb0ded-7c06-44e4-8c6a-75f0c9284cce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.14, "w": 0.91, "x": 0.05, "y": 0.64 }, "kind": "paragraph", "text": "A7: Organic\nTo supplement the Group's results presented in accordance with International Financial Reporting Standards (IFRS), the Group's Management Board, as the chief operating decision maker, reviews certain of its results, including revenue and adjusted\nprofit from operations, at constant rates of exchange, prior to the impact of businesses sold or held-for-sale. Although the Group does not believe that these measures are a substitute for IFRS measures, the Group does believe that such results\nexcluding the impact of businesses sold or to be held-for-sale provide additional useful information to investors regarding the underlying performance of the business on a comparable basis and in the case of the divestment of the Group's businesses in\nRussia and Belarus, the impact these businesses have on revenue and profit from operations. Accordingly, the organic financial measures appearing in this document should be read in conjunction with the Group's results as reported under IFRS.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4b596ead-dcf5-44fc-a747-e8631e6cde44", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.17, "w": 0.91, "x": 0.05, "y": 0.94 }, "kind": "paragraph", "text": "A10: Consumers of Smokeless Products\nThe number of consumers of Smokeless products is defined as the estimated number of Legal Age (minimum 18 years) consumers of the Group's Smokeless products. In markets where regular consumer tracking is in place, this estimate is obtained\nfrom 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 Smokeless products is derived from volume sales of consumables, pouches\nand 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\npart of the consumer tracking studies undertaken) as using more than one BAT Brand.\nThe number of consumers of Smokeless products is used by management to assess the number of consumers using the Group's Smokeless products as the increase in Smokeless products is a key pillar of the Group's sustainability ambition and is\nintegral to the sustainability of our business.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "506f60bf-91fb-44bd-bbed-86cb09a052c2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.65, "x": 0.05, "y": 0.13 }, "kind": "paragraph", "text": "A1: Adjusting (Adj.)\nAdjusting items represent certain items which the Group considers distinctive based upon their size, nature or incidence.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8053d620-f670-4fae-b91f-52774838aa1e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.14, "w": 0.91, "x": 0.05, "y": 0.25 }, "kind": "paragraph", "text": "A3: Share metrics\nYear to date basis through December 2023.\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\nlimited to, the total nicotine category, modern oral, vapour, traditional oral or cigarette. Corporate volume share is the share held by BAT Group. Except when referencing particular markets, volume share is based on our key markets (representing over\n80% 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.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "93e401ed-adb4-4b86-8723-5644e5a7260e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.91, "x": 0.05, "y": 0.8 }, "kind": "paragraph", "text": "A8: Poly-usage\nRefers to a transitional period for smokers towards complete switching to potentially risk reduced nicotine products during which period such smokers reduce cigarette consumption and choose to consume one or more New Category products.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "967487cc-4c94-44ff-b52a-0c6994d68433", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.91, "x": 0.05, "y": 0.5 }, "kind": "paragraph", "text": "A5: 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.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a64d5df9-e2b6-4118-8ef1-e9c884f076e6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.91, "x": 0.05, "y": 0.86 }, "kind": "paragraph", "text": "A9: Adjusted net debt to adjusted EBITDA\nNet debt, excluding the impact of the revaluation of Reynolds American Inc. acquired debt arising as part of the purchase price allocation process, as a proportion of profit for the year (earnings) before net finance costs (interest), tax, depreciation,\namortisation, impairment, associates and adjusting items", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bca459cf-23e3-4870-8b1d-a1931cafd977", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.91, "x": 0.05, "y": 0.0011899999999999999 }, "kind": "paragraph", "text": "A12: New Categories\nRefers to Vapour products, Heated Products and Modern Oral pouches.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c6d56a91-4ed5-4149-a54e-f8b701f4f292", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.91, "x": 0.05, "y": 0.17 }, "kind": "paragraph", "text": "A2: 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\nin profit from operations which are generated by exchange rate movements.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cab80d8b-1ff2-486f-b641-337a94be0a9a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.91, "x": 0.05, "y": 0.56 }, "kind": "paragraph", "text": "A6: 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\nprofit from operations.", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d7a85a8a-65ba-4b64-8aed-07bf5acee21e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.2, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Appendix", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cfde9e39-2339-4fb8-a712-c4f8fad7515e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 58, "from": 21, "beatId": "283097b8-ad55-4780-bfba-f5dce092f9e2", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The slides outline actions to be taken and progress towards goals", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }