British American Tobacco Malaysia - BAT Malaysia continues to grow Dunhill in 2025

Kuala Lumpur, 29 April 2025 – British American Tobacco (Malaysia) Berhad (BAT Malaysia, the Group or the Company) concluded its 64th Annual General Meeting (AGM) today and shared its strategy for its 2025 financial year (FY2025).

For FY2025, BAT Malaysia will focus on delivering combustible value growth through its strategic brand portfolio, particularly Dunhill, the No.1 brand in Malaysia.

Nedal Salem, Managing Director of BAT Malaysia said, “Our focus in FY2025 is to strengthen our leadership in the premium segment and deliver value across our aspirational premium and value-for-money brands. In particular, the Group will focus on driving growth for Dunhill, the No. 1 brand in Malaysia.”

2025 also marks Dunhill’s 60 years of heritage and excellence in Malaysia.

“This year is a very special year for Dunhill as it celebrates 60 years of the brand’s presence in the country. We will continue to solidify Dunhill’s leadership in the premium segment and grow the brand in Malaysia.”

During the AGM, the Group also shared its views on the Control of Smoking Products for Public Health Act 2024 (Act 852) and its related regulations that have taken effect since October 2024 with new regulatory measures implemented in phases.

“We view Act 852 as a crucial step in the right direction as it sets out clear regulatory requirements on the industry and FY2025 will mark a transitional year for the industry due to the changing regulatory landscape. During this transitional period, open dialogues with the Ministry of Health remain essential to ensure regulatory compliance and unintended disruption to the legal market is minimised.”

“We will undertake the necessary arrangement to comply with the phased implementation of Act 852. In line with the new regulations for vapour products that will take effect on 1 October 2025, the Group will transition out its current range of Vuse products in Q3 2025. The Group will undertake commercial assessments of its Vuse products taking into consideration the new regulations governing such products before making decisions on future product launches. The Group will continue to focus on delivering combustible value growth.”

“On the tobacco black market, we are encouraged by the intensified enforcement actions from the Royal Malaysian Customs Department in addressing the tobacco black market to reduce illicit incidence for a fourth consecutive year to around 55% in 2024. We believe more needs to be done and urge the Government to continue taking actions to address the issue in 2025,” Nedal concluded.

Full-year 2024 financial highlights:

• Revenue was recorded at RM2.3 billion, an increase of 0.2% from the previous financial year, mainly driven by volume increase.
• Amidst heightened inflationary pressures in 2024, the Group succeeded in decreasing operating expenses by 7.6% (RM22 million) to RM266 million, mainly driven by the Group’s continued efforts to actively manage and optimise expenses across the Group’s operations.
• BAT group remains committed to maintaining a dividend payout above 90% of its earnings. In line with the Group’s FY2024 performance, the Board of Directors declared a total net dividend per share of 59 sen, equivalent to a 92% total earnings payout for the year and a dividend yield of 7.9% based on the average share price in 2024.