Imperial Brands(IMBBY) - 2020 Q2 - Earnings Call Presentation

Financial Performance - Tobacco & NGP net revenue decreased by 1.7% to £3,592 million[19] - Tobacco net revenue increased by 0.9% to £3,509 million[19] - Tobacco & NGP adjusted operating profit (AOP) decreased by 10.1% to £1,383 million[19] - Adjusted EPS decreased by 10.9% to 103.0 pence[19] - The company rebased dividend by one third to strengthen the balance sheet[41] Volumes and Pricing - Tobacco volumes decreased by 0.5%[19] - Strong cigarette pricing was partly offset by mix[22] - NGP net revenue decreased by 43%[28] Regional Performance - Americas: Tobacco net revenue was flat, NGP net revenue decreased by 50.8%, and adjusted EBIT decreased by 11.8%[45] - AAA: Tobacco net revenue increased by 2.9%, NGP net revenue increased by 57.1%, and adjusted EBIT decreased by 7.9%[52] - Europe: Tobacco net revenue increased by 0.5%, NGP net revenue decreased by 56.2%, and adjusted EBIT decreased by 6.7%[60] Cash Flow and Debt - Cash conversion was 103%[19] - Annualized net debt movement was a decrease of £0.1 billion[19] - Adjusted net debt was £13,476 million[71] Outlook - Revised FY20 expectations: EPS (constant currency) -3% plus COVID impact[43]