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BAT drives free cash flow as efficiencies kick in

The tobacco giant has turned in a solid operating performance with new products to the fore
BAT drives free cash flow as efficiencies kick in
  • A marked increase in free cash flow in 2020
  • Revenues have been supported by favourable pricing mix

British American Tobacco (BATS) is getting on the 'great reset' bandwagon. As part of its “Building a Better Tomorrow” initiative, it has added another 3m vapers to its ranks, taking the total to 13.5m, and is on track to hit the 50m mark by 2030. That meant that revenues from its 'New Categories', essentially vapour and tobacco heating products, increased by 15 per cent.

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