BAT Reports 2022 H2 Trading Update with Vuse and glo Growth

On December 8, 2022, British American Tobacco (referred to as BAT hereafter) released its trading update for the second half of the year on its official website. According to BAT, its income has increased by 2% to 4% based on fixed exchange rates up to 2022. Between September and now in 2022, Vuse's global market share has increased by 2.2 percentage points, reaching 35.7% in major global e-cigarette markets, compared to the 2021 fiscal year. BAT CEO Jack Bowles said, "Our new categories business continues to drive strong sales, revenue, and market share growth and has become an important contributor to the group's performance." The key points of this trading update were found by 2FIRSTS.

The image is sourced from the official website of BAT's Vuse.

Compared to the 2021 fiscal year, Vuse has seen an increase of 2.2 percentage points in global market share from September to present, reaching 35.7% in major e-cigarette markets. Vuse has solidified its position as the leader in the US and is leading in 35 states, with a total market share of 39.3% and an increase of 6.8 percentage points from September to present. Disposable e-cigarettes continue to experience strong growth. The recently launched Vuse Go has reached second place in market share in the UK and France. Vuse Go is being rapidly promoted and has now been launched in 12 markets.

Glo continues to gain market share in its product category.

From September to present, the sales share of major THP categories has increased by 1.6 percentage points to reach 19.5%. In Europe, glo's sales share has reached 20.4%, with a growth of 4.0 percentage points in September in major THP markets. In Japan, compared to the 2021 fiscal year, Hyper has driven glo's total nicotine sales share growth by 50 basis points, with a share of 7.3% since the beginning of the year. The sales share of the THP category has decreased by 1.0 percentage point to 20.2% since September, amidst fierce competition in the market. The early results of the launch of Hyper X2 in Japan in October are encouraging. It has recently been launched in 19 major markets worldwide, with plans for further expansion before the end of the year.

Velo's strong leadership position in Europe continues to exist, unlocking emerging markets.

In Europe, 69.1% of the oral nicotine market share is held by Velo. Through innovative products such as the Velo Mini and Velo Max series, Velo maintains a leading position in sales in 15 modern oral markets across Europe. However, the category sales share of the primary oral nicotine market has decreased by 4.1% compared to the 2021 fiscal year, largely due to market trends in the United States. BAT (British American Tobacco) continues to prioritize investments in the growing electronic cigarette category. Meanwhile, Velo has achieved over 40 million monthly sales in Pakistan, where it is now BAT's third-largest oral nicotine market, showing the potential for oral nicotine in emerging markets.

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