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Building
A Better TomorrowTM

Annual Report 2022

Committed to building A Better TomorrowTM

Our Purpose

To build A Better Tomorrow™ for all our stakeholders.

Our Commitment

To reduce the health impact of our business through a multicategory portfolio of products including reduced-risk tobacco and nicotine products.*

*Based on the weight of evidence and assuming a complete switch from cigarette smoking. These products are not risk free and are addictive.

The Year At A Glance

  • Revenue

    RM2,597 Million

    Net Dividend Per Share

    88 sen

    Profit Before Tax

    RM385 Million

    Shareholders’ Fund

    RM377 Million

    Earnings Per Share (sen)

    91.9

    Market Share

    51.6%

    Net Profit

    RM263 Million

    Net Returns on Shareholders’ Fund

    70%

  • Top Employer Award

    • Top Employer in Malaysia for the fifth consecutive year
    • Also certified Top Employer in the Asia Pacific and Global categories

    MSWG-ASEAN Corporate Governance Awards 2021

    • Excellence Award for Corporate Governance Disclosure
    • Industry Excellence Award in Consumer Products & Services category

    Bursa Malaysia FTSE Russell ESG Ratings

    • 4-star rating
    • Top 25% among public listed companies in ESG performance

    Malaysian Occupational Safety and Health Practitioners’ Association (Moshpa) Award

    • Platinum Silver award in Manufacturing FMCG Product category
    • Completed MOSHPA’s Health and Safety Audit with Full Compliance
The Year At A Glance

Message from Our Chairman and Our Managing Director


Dear Shareholders,
On behalf of the Board of Directors, we are pleased to present BAT Malaysia’s Annual Report and Financial Statements for the financial year ended 31 December 2022.


In 2022, BAT Malaysia delivered a commendable performance given the challenging operating environment. Although revenue was flat, our gross profit improved marginally and we significantly improved our net operating cash flow for the year.

In line with our commitment to delivering value to our stakeholders, the Board of Directors maintained a dividend payout ratio of above 90% this year.

Message from Our Chairman and Our Managing Director

Management Discussion & Analysis


BAT Malaysia will continue growing its revenue through combustibles. This will enable us to allocate sufficient investments to develop New Category products that will fulfil our aim of providing greater choice and reduced-risk products to our consumers.


Management Discussion & Analysis

Financial Highlights

GROSS REVENUE
(RM million)

-2%

OPERATING EXPENSES
(RM million)

+4%

PROFIT FROM OPERATIONS
(RM million)

-1%

PROFIT FROM OPERATIONS
(RM million)

FIVE-YEAR PERFORMANCE HISTORY

  • REVENUE (RM million)

  • PROFIT FROM OPERATIONS (RM million)

  • NET TOTAL DIVIDEND PER SHARE (sen)

  • RETURN ON EQUITY

Our Approach to Sustainability

Sustainability is at the forefront of our business as we aim to create long-term value for our stakeholders through a holistic approach. We ensure that we include issues that are most material to our stakeholders and implement the right strategies to capture opportunities that will drive sustainable business growth while overcoming risks and challenges effectively.
Our Approach to Sustainability

62nd Annual General Meeting

DATE

Wednesday, 3 May 2023

TIME

09.30 a.m.

MEETING PLATFORM

TIIH Online

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