BTI Q2 2015 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2015 Earnings

Reported June 30, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2015	Q1 2015	Q2 2014	QoQ Change	YoY Change
Revenue	$8.6B	—	$9.2B	—	-5.9%
Op. Income	$3.3B	—	$3.6B	—	-6.0%
Gross Margin	77.2%	—	78.5%	—	-1.3pp
Net Margin	41.3%	—	25.7%	—	15.6pp
EPS (Diluted)	$1.58	—	$1.04	—	51.9%
Free Cash Flow	$1.6B	—	$1.3B	—	20.2%

Revenue Flow

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$6.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$3.6B
OPERATING INCOME	$3.3B
Interest Income	$339M
Interest Expense	$0
Other Income/Expenses	$3.0B
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$963M
Net Income from Continuing Ops	$3.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$266M
EBIT	$3.3B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$8.6B
Cost of Revenue	$2.0B
GROSS PROFIT	$6.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$3.6B
OPERATING INCOME	$3.3B
Interest Income	$339M
Interest Expense	$0
Other Income/Expenses	$3.0B
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$963M
Net Income from Continuing Ops	$3.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$266M
EBIT	$3.3B
EBITDA	$3.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.6B
Depreciation & Amortization	$266M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$2.0B
Change in Working Capital	$11M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$208M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$4.2B
NET CASH FROM INVESTING	-$4.4B
Net Debt Issuance	$0
Common Stock Repurchased	-$62M
Common Dividends Paid	-$2.5B
Other Financing Activities	$2.4B
NET CASH FROM FINANCING	$2.2B
FREE CASH FLOW	$1.6B
Net Change in Cash	-$455M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$68M
Net Receivables	$3.4B
Inventory	$5.1B
Other Current Assets	$570M
TOTAL CURRENT ASSETS	$11.0B
PP&E (Net)	$3.8B
Goodwill	$0
Intangible Assets	$13.7B
Long-Term Investments	$8.9B
Tax Assets	$370M
Other Non-Current Assets	$934M
TOTAL NON-CURRENT ASSETS	$27.7B
TOTAL ASSETS	$38.7B
Account Payables	$6.0B
Short-Term Debt	$1.8B
Deferred Revenue	$587M
Other Current Liabilities	$508M
TOTAL CURRENT LIABILITIES	$8.9B
Long-Term Debt	$19.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$693M
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$21.4B
TOTAL LIABILITIES	$30.3B
Common Stock	$684M
Additional Paid-In Capital	$5.3B
Retained Earnings	$3.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.1B
Minority Interest	$352M
TOTAL EQUITY	$8.4B
TOTAL LIABILITIES & EQUITY	$38.7B
Total Debt	$20.9B
Net Debt	$19.0B