BAT Results Presentation Deck
Velo's European Leadership* Continues; now
Unlocking Emerging Markets
62.1%
65.7%
69.5%
68.8%
69%
Volume share
stable
FY22 vs FY21
2019
2020
2021
2022
Velo volume share of Modern Oral category in Europe***
BAT
A BETTER TOMORROW
Modern Oral revenue up 46%** ahead of
volume growth of 22%
Velo's European volume share leadership in
Modern Oral stable at 69%*
Velo remains volume share leader in 15
Modern Oral markets in Europe
In the US, we have submitted a PMTA for a
new Velo product
Unlocking significant opportunity in
Emerging Markets
* Volume share leadership FY22 based on 4 of Top 5 Modern Oral markets globally, which are in Europe. ** Revenue growth at constant rates. See Appendix A2. *** Volume share growth of Modern Oral category based on 4 of Top 5 Modern Oral
markets globally, which are in Europe. Sweden - Nielsen, Denmark - Nielsen, Norway - Nielsen, Switzerland - Scan Data (excl. SPAR, Top CC & Alligro). See Appendix A3..
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