TIDMBATS
RNS Number : 3751M
British American Tobacco PLC
14 September 2023
British American Tobacco p.l.c.
14 September 2023
Russia business update - sale completed
Further to our announcement on 7 September 2023, we have now
completed the sale of our Russian and Belarusian businesses. The
sale has been carried out in compliance with local and
international laws and follows the receipt of all necessary
approvals.
ENDS
Enquiries
Media Centre
+44 (0) 20 7845 2888 (24 hours) | @BATplc
Investor Relations
Victoria Buxton: +44 (0)20 7845 2012
Amy Chamberlain +44 (0)20 7845 1124
John Harney: +44 (0)20 7845 1263
Jane Henderson +44 (0)207845 1117
About BAT
BAT is a leading, multi-category consumer goods business with a
purpose to build A Better Tomorrow(TM) by reducing the health
impact of its business through offering a greater choice of
enjoyable and less risky products for adult consumers.
The company continues to be clear that combustible cigarettes
pose serious health risks, and the only way to avoid these risks is
not to start or to quit. BAT encourages those who would otherwise
continue to smoke to switch completely to
scientifically-substantiated, reduced-risk alternatives* . In order
to deliver this, BAT is transforming into a truly consumer-centric
multi-category consumer products business.
BAT's ambition is to have 50 million consumers of its
non-combustible products by 2030 and to generate GBP5billion of New
Categories revenue by 2025. BAT has set stretching ESG targets
including achieving carbon neutrality for Scopes 1 & 2 by 2030
and eliminating unnecessary single-use plastic and making all
plastic packaging reusable, recyclable or compostable by 2025.
BAT employs over 50,000 people. The BAT Group generated revenue
of GBP27.65 billion in 2022 and profit from operations of GBP10.5
billion.
The company's Strategic Portfolio is made up of its global
cigarette brands and a growing range of reduced-risk* New Category
tobacco and nicotine products and traditional non-combustible
tobacco products. These include vapour, tobacco heating products,
modern oral products including tobacco-free nicotine pouches, as
well as traditional oral products such as snus and moist snuff. In
the first half of 2023, we had 24 million consumers of our
non-combustible products, a rise of 1.5 million on full year
2022.
* Based on the weight of evidence and assuming a complete switch
from cigarette smoking. These products are not risk free and are
addictive.
Our vapour product Vuse (including Alto, Solo, Ciro and Vibe),
and certain products, including Velo, Grizzly, Kodiak, and Camel
Snus, which are sold in the U.S., are subject to FDA regulation and
no reduced-risk claims will be made as to these products without
agency clearance.
Forward-looking statements
This release contains certain forward-looking statements,
including "forward-looking" statements made within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. These
statements are often, but not always, made through the use of words
or phrases such as "believe," "anticipate," "could," "may,"
"would," "should," "intend," "plan," "potential," "predict,"
"will," "expect," "estimate," "project," "positioned," "strategy,"
"outlook", "target" and similar expressions. These include
statements regarding our customer target ambition, New Categories
revenue targets and our ESG targets.
All such forward-looking statements involve estimates and
assumptions that are subject to risks, uncertainties and other
factors. It is believed that the expectations reflected in this
release are reasonable but they may be affected by a wide range of
variables that could cause actual results to differ materially from
those currently anticipated. A review of the reasons why actual
results and developments may differ materially from the
expectations disclosed or implied within forward-looking statements
can be found by referring to the information contained under the
headings "Cautionary Statement" and "Group Principal Risks " in the
2022 Annual Report and Form 20-F of British American Tobacco p.l.c.
(BAT).
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 obtained free of charge
at the SEC's website, http://www.sec.gov and BAT's Annual Reports,
which may be obtained free of charge from the BAT website
www.bat.com .
Past performance is no guide to future performance and persons
needing advice should consult an independent financial adviser. The
forward-looking statements reflect knowledge and information
available at the date of preparation of this release and BAT
undertakes no obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise. Readers are cautioned not to place undue reliance on
such forward-looking statements.
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END
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September 14, 2023 04:00 ET (08:00 GMT)
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