BTI FY 2020 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

FY 2020 Earnings

Reported March 9, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$34.8B	—	$34.9B	—	-0.4%
Op. Income	$13.4B	—	$14.0B	—	-4.3%
Gross Margin	82.7%	—	82.8%	—	-0.0pp
Net Margin	24.8%	—	22.0%	—	2.8pp
EPS (Diluted)	$3.76	—	$3.36	—	12.0%
Free Cash Flow	$12.5B	—	$11.2B	—	11.3%

Revenue Flow

Item	Amount
REVENUE	$34.8B
Cost of Revenue	$6.0B
GROSS PROFIT	$28.8B
R&D Expenses	$414M
Selling & Marketing	$1.5B
General & Administrative	$3.6B
SG&A Expenses	$5.1B
Other Expenses	$9.8B
Operating Expenses	$15.3B
Cost & Expenses	$21.3B
OPERATING INCOME	$13.4B
Interest Income	$67M
Interest Expense	$2.4B
Other Income/Expenses	-$1.7B
INCOME BEFORE TAX	$11.7B
Income Tax Expense	$2.8B
Net Income from Continuing Ops	$8.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8.6B
D&A	$1.1B
EBIT	$14.8B
EBITDA	$15.9B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$34.8B
Cost of Revenue	$6.0B
GROSS PROFIT	$28.8B
R&D Expenses	$414M
Selling & Marketing	$1.5B
General & Administrative	$3.6B
SG&A Expenses	$5.1B
Other Expenses	$9.8B
Operating Expenses	$15.3B
Cost & Expenses	$21.3B
OPERATING INCOME	$13.4B
Interest Income	$67M
Interest Expense	$2.4B
Other Income/Expenses	-$1.7B
INCOME BEFORE TAX	$11.7B
Income Tax Expense	$2.8B
Net Income from Continuing Ops	$8.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8.6B
D&A	$1.1B
EBIT	$14.8B
EBITDA	$15.9B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$8.6B
Depreciation & Amortization	$1.3B
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$2.7B
Change in Working Capital	$578M
OPERATING CASH FLOW	$13.2B
Capital Expenditure	-$689M
Acquisitions (Net)	$135M
Purchases of Investments	-$462M
Sales/Maturities of Investments	$0
Other Investing Activities	-$39M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$1.1B
Common Stock Repurchased	-$24M
Common Dividends Paid	-$6.4B
Other Financing Activities	-$3.1B
NET CASH FROM FINANCING	-$10.6B
FREE CASH FLOW	$12.5B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.2B
Short-Term Investments	$326M
Net Receivables	$5.1B
Inventory	$8.1B
Other Current Assets	$584M
TOTAL CURRENT ASSETS	$18.4B
PP&E (Net)	$6.8B
Goodwill	$58.4B
Intangible Assets	$97.1B
Long-Term Investments	$2.1B
Tax Assets	$720M
Other Non-Current Assets	$2.1B
TOTAL NON-CURRENT ASSETS	$167.3B
TOTAL ASSETS	$185.6B
Account Payables	$13.1B
Short-Term Debt	$5.3B
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$20.9B
Long-Term Debt	$53.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22.0B
Other Non-Current Liabilities	$4.1B
TOTAL NON-CURRENT LIABILITIES	$79.9B
TOTAL LIABILITIES	$100.8B
Common Stock	$828M
Additional Paid-In Capital	$139M
Retained Earnings	$63.6B
Treasury Stock	-$6.9B
Accum. Other Comp. Income	$26.7B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$84.5B
Minority Interest	$380M
TOTAL EQUITY	$84.9B
TOTAL LIABILITIES & EQUITY	$185.6B
Total Debt	$59.3B
Net Debt	$55.0B