BTI FY 2021 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

FY 2021 Earnings

Reported March 8, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$34.6B	—	$34.8B	—	-0.4%
Op. Income	$13.8B	—	$13.4B	—	2.7%
Gross Margin	82.1%	—	82.7%	—	-0.6pp
Net Margin	26.5%	—	24.8%	—	1.7pp
EPS (Diluted)	$3.99	—	$3.76	—	6.1%
Free Cash Flow	$12.4B	—	$12.5B	—	-0.9%

Revenue Flow

Item	Amount
REVENUE	$34.6B
Cost of Revenue	$6.2B
GROSS PROFIT	$28.4B
R&D Expenses	$410M
Selling & Marketing	$1.7B
General & Administrative	$3.5B
SG&A Expenses	$5.1B
Other Expenses	$9.1B
Operating Expenses	$14.6B
Cost & Expenses	$20.8B
OPERATING INCOME	$13.8B
Interest Income	$47M
Interest Expense	$2.0B
Other Income/Expenses	-$1.4B
INCOME BEFORE TAX	$12.4B
Income Tax Expense	$3.0B
Net Income from Continuing Ops	$9.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9.2B
D&A	$1.3B
EBIT	$13.8B
EBITDA	$15.1B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$34.6B
Cost of Revenue	$6.2B
GROSS PROFIT	$28.4B
R&D Expenses	$410M
Selling & Marketing	$1.7B
General & Administrative	$3.5B
SG&A Expenses	$5.1B
Other Expenses	$9.1B
Operating Expenses	$14.6B
Cost & Expenses	$20.8B
OPERATING INCOME	$13.8B
Interest Income	$47M
Interest Expense	$2.0B
Other Income/Expenses	-$1.4B
INCOME BEFORE TAX	$12.4B
Income Tax Expense	$3.0B
Net Income from Continuing Ops	$9.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9.2B
D&A	$1.3B
EBIT	$13.8B
EBITDA	$15.1B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$9.2B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$2.8B
Change in Working Capital	-$84M
OPERATING CASH FLOW	$13.1B
Capital Expenditure	-$711M
Acquisitions (Net)	-$311M
Purchases of Investments	-$498M
Sales/Maturities of Investments	$190M
Other Investing Activities	-$208M
NET CASH FROM INVESTING	-$1.5B
Net Debt Issuance	-$5.2B
Common Stock Repurchased	-$111M
Common Dividends Paid	-$6.6B
Other Financing Activities	$138M
NET CASH FROM FINANCING	-$11.8B
FREE CASH FLOW	$12.4B
Net Change in Cash	-$573M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.8B
Short-Term Investments	$615M
Net Receivables	$5.5B
Inventory	$7.1B
Other Current Assets	$263M
TOTAL CURRENT ASSETS	$17.3B
PP&E (Net)	$6.7B
Goodwill	$58.2B
Intangible Assets	$97.7B
Long-Term Investments	$2.1B
Tax Assets	$824M
Other Non-Current Assets	$2.5B
TOTAL NON-CURRENT ASSETS	$167.9B
TOTAL ASSETS	$185.2B
Account Payables	$12.9B
Short-Term Debt	$5.2B
Deferred Revenue	$0
Other Current Liabilities	$938M
TOTAL CURRENT LIABILITIES	$20.4B
Long-Term Debt	$47.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22.2B
Other Non-Current Liabilities	$3.6B
TOTAL NON-CURRENT LIABILITIES	$73.9B
TOTAL LIABILITIES	$94.3B
Common Stock	$828M
Additional Paid-In Capital	$280M
Retained Earnings	$66.5B
Treasury Stock	-$6.9B
Accum. Other Comp. Income	-$6.0B
Other Equity	$29.8B
TOTAL STOCKHOLDERS' EQUITY	$90.5B
Minority Interest	$404M
TOTAL EQUITY	$90.9B
TOTAL LIABILITIES & EQUITY	$185.2B
Total Debt	$53.5B
Net Debt	$49.7B