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Briefing from the BAT 61st Annual General Meeting 2021

Company name: British American Tobacco (BAT) Zimbabwe

  • Profile: Manufactures and sells tobacco products. It is the leading tobacco manufacturer in Zimbabwe by market share. 
  • Market Cap: ZWL16.5billion or USD196.6million (@official exchange rate)
  • Ticker: BAT.zw
  • Sector: Agriculture
The chairman Mr. Lovemore T. Manatsa, second from left,the Managing director, Mr. Kimesh Naidoo second from right and the board of directors at the BAT 61st AGM held today the 30th of April 2021 at Cresta Lodge

The AGM Hosted by the newly appointed secretary of BAT Zimbabwe, Ms. Phyllis Chenjera was held earlier today at Cresta lodge Harare. At the AGM the company chairman Mr. Lovemore T. Manatsa together with the Managing director, Mr. Kimesh Naidoo presented the company’s financial performance for the year ended December 2020 and shareholders voted on key company issues. The following are the key highlights from the AGM:

  1. Financials:

The Chairman, Mr. L. T. Manatsa intimated that the company’s FY2020 total sales revenue went up by 40% compared to FY2019 which was driven by the price increases as well as the revenue generated from the export of cut-rag tobacco. Net Profit attributable to shareholders for the period under review registered a growth of 149%. The company witnessed a significant increase in its 2020 Earnings Per Share to ZW$3.15 from a negative ZW$7.15 generated in 2019.

The Managing Director, Mr. K. Naidoo stated that overall Key Performance Indicators improved by 3% and the overall equipment efficiency also increased by 4%. BAT received accolades from different independent authorities in recognition of its market leadership, excellence and financial performance. The company was recognized as the Top Employer in Zimbabwe for 2020 by the Top Employer’s Institute. Mr. Naidoo acknowledged employees for their commitment and team spirit which brought the forth a solid performance. He thanked trade partners and shareholders for their continued support to BAT despite the challenges faced in the year 2020.

  • Auditors

KPMG was retained as the Auditors for their ensuing financial year.

  • Key Performance Drivers in 2020
  • Increasing business and consumer pressure
  • COVID – 19
  • Key Performance Drivers for 2021
  • Managing COVID – 19  and its impact on operations
  • Regulatory and Public Policy Engagements
  • FX Management
  • Volume & Pricing
  • Cost Management
  • Our People

Enterprise Value to EBITDA for the year 2020 was at ZW$489 million, EBITDA Growth was 173.22% and the EBITDA Margin was at 23.55%. the Enterprise Value to EBIT was ZW$455 million.  According to the Zimbabwean Stock Exchange, the current share price of British American Tobacco Limited (BAT) is ZWL $800.00 per share. The current Return on Assets ratio is 6.69%, Return on Equity ratio – 18.60% and the Year – to – Date performance is at 45.45%. To access their full annual report, please follow the link: http://www.batzimbabwe.com/

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