BTI Q2 2016 Earnings Report — British American Tobacco p.l.c. Revenue & Financial Results | Market Cap Arena

British American Tobacco p.l.c.BTI

Q2 2016 Earnings

Reported June 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$9.0B	—	$8.6B	—	4.2%
Op. Income	$3.2B	—	$3.3B	—	-4.3%
Gross Margin	75.7%	—	77.2%	—	-1.5pp
Net Margin	40.1%	—	41.3%	—	-1.3pp
EPS (Diluted)	$1.59	—	$1.58	—	0.9%
Free Cash Flow	$1.3B	—	$1.6B	—	-22.2%

Revenue Flow

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$2.2B
GROSS PROFIT	$6.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$1.8B
Cost & Expenses	$4.0B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$3.0B
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$924M
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	$317M
EBIT	$3.2B
EBITDA	$3.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$9.0B
Cost of Revenue	$2.2B
GROSS PROFIT	$6.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$1.8B
Cost & Expenses	$4.0B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$3.0B
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$924M
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	$317M
EBIT	$3.2B
EBITDA	$3.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.6B
Depreciation & Amortization	$317M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$2.7B
Change in Working Capital	$194M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$162M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$135M
NET CASH FROM INVESTING	-$297M
Net Debt Issuance	$0
Common Stock Repurchased	-$88M
Common Dividends Paid	-$2.6B
Other Financing Activities	$1.2B
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.3B
Net Change in Cash	-$364M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$82M
Net Receivables	$4.6B
Inventory	$6.4B
Other Current Assets	$851M
TOTAL CURRENT ASSETS	$14.4B
PP&E (Net)	$4.4B
Goodwill	$0
Intangible Assets	$15.9B
Long-Term Investments	$11.7B
Tax Assets	$516M
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$34.4B
TOTAL ASSETS	$48.9B
Account Payables	$6.8B
Short-Term Debt	$7.2B
Deferred Revenue	$534M
Other Current Liabilities	$1.3B
TOTAL CURRENT LIABILITIES	$15.9B
Long-Term Debt	$20.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$886M
Other Non-Current Liabilities	$3.9B
TOTAL NON-CURRENT LIABILITIES	$24.5B
TOTAL LIABILITIES	$40.4B
Common Stock	$684M
Additional Paid-In Capital	$5.3B
Retained Earnings	$2.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$471M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.2B
Minority Interest	$191M
TOTAL EQUITY	$8.4B
TOTAL LIABILITIES & EQUITY	$48.9B
Total Debt	$27.3B
Net Debt	$24.7B