Imperial Brands Investor Day Presentation Deck
Potential to selectively trim our tail
国
W
Tail Markets Today :
An Attractive Part of our Business
c. 80 markets with operating profit
less than £25m¹ per market
Attractive gross margins
Account for c. 8%² of combustible
operating profit
Variety of operating models in tail markets,
many light touch (e.g., distributor-led)
47 Capital Markets Day | 27 January 2021
IMPERIAL
BRANDS
Future Value Optimisation
Drive to run more efficiently whilst still
realising significant value for Imperial
Selectively trim over time (but
acknowledging there is a limited universe
of buyers)
1.FY20 Combustible operating profit, excluding-one offs. Exception: Norway OP > £25m
2. % of FY20 Combustible operating profit, excluding one-offs, after allocation of central costsView entire presentation