JSE:BTI Income Statement

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	25,610	25,867	27,283	27,655	25,684
Revenue Growth (YoY)	-0.99%	-5.19%	-1.34%	7.67%	-0.36%
Cost of Revenue	4,443	4,570	4,891	4,579	4,597
Gross Profit	21,167	21,297	22,392	23,076	21,087
Selling, General & Admin	4,200	3,951	3,856	3,829	3,808
Other Operating Expenses	4,997	5,316	5,146	6,660	5,341
Operating Expenses	11,411	11,501	32,963	11,574	10,179
Operating Income	9,756	9,796	-10,571	11,502	10,908
Interest Expense	-1,774	-1,772	-1,832	-1,627	-1,471
Interest & Investment Income	214	251	186	92	35
Earnings From Equity Investments	1,681	1,900	585	442	415
Currency Exchange Gain (Loss)	360	-2	432	-631	260
Other Non Operating Income (Expenses)	-666	-111	-618	464	-288
EBT Excluding Unusual Items	9,571	10,062	-11,818	10,242	9,859
Merger & Restructuring Charges	-66	-	2	-774	-150
Impairment of Goodwill	-277	-39	-4,614	-	-57
Gain (Loss) on Sale of Investments	21	-6	-	-	-24
Gain (Loss) on Sale of Assets	22	62	-446	33	-358
Asset Writedown	-37	-828	-	-	-
Legal Settlements	601	-6,303	-156	-177	-81
Other Unusual Items	24	590	-29	-	-26
Pretax Income	9,859	3,538	-17,061	9,324	9,163
Income Tax Expense	2,094	357	-2,872	2,478	2,189
Earnings From Continuing Operations	7,765	3,181	-14,189	6,846	6,974
Minority Interest in Earnings	-1	-113	-178	-180	-173
Net Income	7,764	3,068	-14,367	6,666	6,801
Preferred Dividends & Other Adjustments	87	42	45	49	12
Net Income to Common	7,677	3,026	-14,412	6,617	6,789
Net Income Growth	153.06%	-	-	-1.98%	6.27%
Shares Outstanding (Basic)	2,187	2,214	2,229	2,256	2,287
Shares Outstanding (Diluted)	2,199	2,225	2,229	2,267	2,297
Shares Change (YoY)	-1.17%	-0.18%	-1.68%	-1.31%	0.09%
EPS (Basic)	3.51	1.37	-6.47	2.93	2.97
EPS (Diluted)	3.49	1.36	-6.47	2.92	2.96
EPS Growth	156.69%	-	-	-1.25%	5.99%
Free Cash Flow	5,791	9,639	10,254	9,871	9,190
Free Cash Flow Per Share	2.63	4.33	4.60	4.35	4.00
Dividend Per Share	2.450	2.402	2.355	2.178	2.156
Dividend Growth	2.00%	2.00%	8.14%	1.02%	2.47%
Gross Margin	82.65%	82.33%	82.07%	83.44%	82.10%
Operating Margin	38.09%	37.87%	-38.75%	41.59%	42.47%
Profit Margin	29.98%	11.70%	-52.82%	23.93%	26.43%
Free Cash Flow Margin	22.61%	37.26%	37.58%	35.69%	35.78%
EBITDA	11,758	11,822	13,265	12,445	11,809
EBITDA Margin	45.91%	45.70%	48.62%	45.00%	45.98%
D&A For EBITDA	2,002	2,026	23,836	943	901
EBIT	9,756	9,796	-10,571	11,502	10,908
EBIT Margin	38.09%	37.87%	-38.75%	41.59%	42.47%
Effective Tax Rate	21.24%	10.09%	-	26.58%	23.89%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.