British American Tobacco p.l.c. (NYSE:BTI) Q4 2022 Earnings Call Transcript

Jack Bowles: So thank you very much for joining us today. I’m very proud of our performance in 2022. Our results show that we are transforming the business at speed and delivering strong results in a challenging macro environment. We expect 2023 to be a stronger year with organic revenue of between 3% and 5%, led by new categories and stronger combustibles. While higher interest costs and our exit from Russia and Belarus, means that we are guiding mid-single figure NPS for this year. We are also making active choices as our New Category growth model continues to accelerate and deliver. This means that we will invest more and achieve new category profitability in 2024, one year early. We have made choices, and this is the right thing for us to do.

I’m excited that building on the strong progress that we have made today will continue to transform, driven by our brands, our capabilities and determination to drive long-term value creation for all our stakeholders. So thank you very much for listening, and have a very good day.