British American Tobacco called on all “leaders and governments” for a “peaceful and sustainable” resolution of the “tragic conflict” in Ukraine through dialogue and diplomacy.
Citing what it termed was a “highly complex, exceptionally fast-moving and volatile” context it also concluded that its ownership of a business in Russia was no longer sustainable “in the current environment”.
Hence, it had begun the process of rapidly transferring its Russian business in accordance with international and local laws, in effect exiting the country.
Nevertheless, it would continue to pay its staff and to do its utmost to safeguard their future employment.
In terms of the purely financial impact of the uncertainty in Ukraine and Russia, the company also revised its guidance.
Management guided towards top-line full-year 2022 sales growth of 2.0-4.0% and mid-single digit constant currency adjusted earnings per share growth in diluted terms.
In 2021, Ukraine and Russia accounted for 3.05 of group sales and a bit less of adjusted profit operations.
