BTI FY 2015 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

FY 2015 Earnings

Reported December 31, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$16.9B	—	$18.8B	—	-10.3%
Op. Income	$6.7B	—	$6.8B	—	-2.0%
Gross Margin	75.8%	—	78.3%	—	-2.5pp
Net Margin	34.2%	—	22.3%	—	11.9pp
EPS (Diluted)	$3.10	—	$2.25	—	37.7%
Free Cash Flow	$5.7B	—	$4.3B	—	32.9%

Revenue Flow

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$4.1B
GROSS PROFIT	$12.8B
R&D Expenses	$200M
Selling & Marketing	$2.6B
General & Administrative	$17M
SG&A Expenses	$2.6B
Other Expenses	-$4.1B
Operating Expenses	$4.3B
Cost & Expenses	$8.3B
OPERATING INCOME	$6.7B
Interest Income	$666M
Interest Expense	$787M
Other Income/Expenses	$1.2B
INCOME BEFORE TAX	$7.9B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.7B
NET INCOME	$5.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.8B
D&A	$542M
EBIT	$8.7B
EBITDA	$7.6B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$4.1B
GROSS PROFIT	$12.8B
R&D Expenses	$200M
Selling & Marketing	$2.6B
General & Administrative	$17M
SG&A Expenses	$2.6B
Other Expenses	-$4.1B
Operating Expenses	$4.3B
Cost & Expenses	$8.3B
OPERATING INCOME	$6.7B
Interest Income	$666M
Interest Expense	$787M
Other Income/Expenses	$1.2B
INCOME BEFORE TAX	$7.9B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$4.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$1.7B
NET INCOME	$5.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.8B
D&A	$542M
EBIT	$8.7B
EBITDA	$7.6B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$5.8B
Depreciation & Amortization	$542M
Stock-Based Compensation	$81M
Deferred Income Tax	$0
Other Non-Cash Items	$1.6B
Change in Working Capital	-$1.7B
OPERATING CASH FLOW	$6.4B
Capital Expenditure	-$651M
Acquisitions (Net)	-$2.8B
Purchases of Investments	-$4.2B
Sales/Maturities of Investments	$61M
Other Investing Activities	-$4.7B
NET CASH FROM INVESTING	-$5.4B
Net Debt Issuance	$6.6B
Common Stock Repurchased	-$62M
Common Dividends Paid	-$3.7B
Other Financing Activities	-$3.1B
NET CASH FROM FINANCING	-$295M
FREE CASH FLOW	$5.7B
Net Change in Cash	$321M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.6B
Short-Term Investments	$47M
Net Receivables	$3.2B
Inventory	$5.7B
Other Current Assets	$1.6B
TOTAL CURRENT ASSETS	$13.2B
PP&E (Net)	$4.1B
Goodwill	$12.6B
Intangible Assets	$1.5B
Long-Term Investments	$9.4B
Tax Assets	$440M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$29.3B
TOTAL ASSETS	$42.5B
Account Payables	$8.0B
Short-Term Debt	$3.0B
Deferred Revenue	$558M
Other Current Liabilities	$620M
TOTAL CURRENT LIABILITIES	$12.1B
Long-Term Debt	$19.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$759M
Other Non-Current Liabilities	$3.6B
TOTAL NON-CURRENT LIABILITIES	$23.6B
TOTAL LIABILITIES	$35.7B
Common Stock	$684M
Additional Paid-In Capital	$5.3B
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$6.0B
Other Equity	-$17.6B
TOTAL STOCKHOLDERS' EQUITY	$6.6B
Minority Interest	$186M
TOTAL EQUITY	$6.8B
TOTAL LIABILITIES & EQUITY	$42.5B
Total Debt	$22.9B
Net Debt	$20.3B