Investor Update November 2009 (241 kb) - British American Tobacco

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Mergers & Acquisitions � Solid track record of strategic acquisitions: � STK Cigarette & Snus business in Denmark 2008 � Tekel in Turkey in 2008 � Bentoel in Indonesia in <strong>2009</strong> � BAT continues to explore M&A opportunities which provide a good strategic fit and meet relevant financial criteria 9
Productivity savings goal: 2008 – 2012 � A significant driver of profit growth � Some drop through to the bottom line � Balance reinvested in the business � Target of a further £800mn by 2012 � Past savings of £1bn over 5 years in 2007 � Savings from supply chain, overheads & indirects � Supply chain efficiencies � Back office integration � Management structures 10
Page 1 and 2: British American Tobacco Investor u
Page 3 and 4: Agenda � Business overview � Gr
Page 5 and 6: Major Competitors BAT* PMI JTI Impe
Page 7 and 8: Business Strategy VISION STRATEGY G
Page 9: Growth: Innovation � There is a c
Page 13 and 14: Regulation update � WHO’s Frame
Page 15 and 16: Financial policies � Liquidity :
Page 17 and 18: £ mn 2,000 1,800 1,600 1,400 1,200
Page 19 and 20: Liability Management Exercise � O
Page 21 and 22: Profit from operations Regions FY20
Page 23 and 24: Cash Flow £mn FY2007 FY2008 2008H1

Investor Update November 2009 (241 kb) - British American Tobacco

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