BTI FY 2016 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

FY 2016 Earnings

Reported December 31, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$19.1B	—	$16.9B	—	12.7%
Op. Income	$7.1B	—	$6.7B	—	6.5%
Gross Margin	73.6%	—	75.8%	—	-2.2pp
Net Margin	32.9%	—	34.2%	—	-1.3pp
EPS (Diluted)	$3.36	—	$3.10	—	8.3%
Free Cash Flow	$5.4B	—	$5.7B	—	-5.0%

Revenue Flow

Item	Amount
REVENUE	$19.1B
Cost of Revenue	$5.0B
GROSS PROFIT	$14.0B
R&D Expenses	$194M
Selling & Marketing	$2.8B
General & Administrative	$15M
SG&A Expenses	$2.8B
Other Expenses	$229M
Operating Expenses	$4.8B
Cost & Expenses	$9.9B
OPERATING INCOME	$7.1B
Interest Income	$778M
Interest Expense	$918M
Other Income/Expenses	$1.3B
INCOME BEFORE TAX	$8.4B
Income Tax Expense	$1.9B
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$3.0B
NET INCOME	$6.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6.3B
D&A	$732M
EBIT	$6.3B
EBITDA	$7.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$19.1B
Cost of Revenue	$5.0B
GROSS PROFIT	$14.0B
R&D Expenses	$194M
Selling & Marketing	$2.8B
General & Administrative	$15M
SG&A Expenses	$2.8B
Other Expenses	$229M
Operating Expenses	$4.8B
Cost & Expenses	$9.9B
OPERATING INCOME	$7.1B
Interest Income	$778M
Interest Expense	$918M
Other Income/Expenses	$1.3B
INCOME BEFORE TAX	$8.4B
Income Tax Expense	$1.9B
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$3.0B
NET INCOME	$6.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$6.3B
D&A	$732M
EBIT	$6.3B
EBITDA	$7.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$6.3B
Depreciation & Amortization	$666M
Stock-Based Compensation	$113M
Deferred Income Tax	$0
Other Non-Cash Items	$244M
Change in Working Capital	-$1.1B
OPERATING CASH FLOW	$6.2B
Capital Expenditure	-$790M
Acquisitions (Net)	-$77M
Purchases of Investments	-$224M
Sales/Maturities of Investments	$30M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$863M
Net Debt Issuance	-$491M
Common Stock Repurchased	-$86M
Common Dividends Paid	-$3.9B
Other Financing Activities	-$1.2B
NET CASH FROM FINANCING	-$5.7B
FREE CASH FLOW	$5.4B
Net Change in Cash	-$107M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.0B
Short-Term Investments	$20M
Net Receivables	$3.6B
Inventory	$7.8B
Other Current Assets	$2.2B
TOTAL CURRENT ASSETS	$16.7B
PP&E (Net)	$4.9B
Goodwill	$14.9B
Intangible Assets	$1.5B
Long-Term Investments	$12.9B
Tax Assets	$588M
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$37.0B
TOTAL ASSETS	$53.6B
Account Payables	$9.9B
Short-Term Debt	$4.1B
Deferred Revenue	$752M
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$16.0B
Long-Term Debt	$22.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$879M
Other Non-Current Liabilities	$4.1B
TOTAL NON-CURRENT LIABILITIES	$26.3B
TOTAL LIABILITIES	$42.3B
Common Stock	$684M
Additional Paid-In Capital	$111M
Retained Earnings	$4.5B
Treasury Stock	$0
Accum. Other Comp. Income	$42M
Other Equity	-$12.5B
TOTAL STOCKHOLDERS' EQUITY	$11.0B
Minority Interest	$302M
TOTAL EQUITY	$11.3B
TOTAL LIABILITIES & EQUITY	$53.6B
Total Debt	$26.3B
Net Debt	$23.3B