BAT's Glo Sees Strong Global Growth in 2022

Recently, British American Tobacco (BAT) released its 2022 annual report. The report disclosed operational data for BAT's Glo product in 2022.

Report Reveals Global Market Outlook for Glo in 2022:

Glo's market share has reached 19.4%, a year-on-year increase of 1.4%. Glo's global revenue has grown by 24.3% or 26.7% and is expected to continue to grow in the second half of 2022. The number of Glo's consumers has increased by 2 million, reaching 8.8 million, a growth of 30%. Glopod's sales have grown by 25.6%, surpassing the industry growth rate of 15%. Glo's share of the tobacco market (FMC and THP combined) has reached 7.4%, an increase of 0.6% compared to 2021.

In 2022, Glo's sales performance in its key markets is as follows:

Glo, a tobacco heating product (THP) produced by British American Tobacco (BAT), has seen an increase in its market share in Japan and Europe. In Japan, a shift in consumer preference from traditional cigarettes to THPs has boosted Glo's market share (combining both traditional tobacco and THPs) to 7.4% in 2021, representing a 0.6% growth from the previous year. Meanwhile, in Europe, Glo's sales have grown by 33.8% leading to a continued strong increase in revenue by 57.3% or 53.3% (at a fixed exchange rate). The region currently accounts for over 54% of BAT's global THP volume (excluding Russia, which accounts for 43%) and 51% of BAT's global THP revenue (excluding Russia, which is 41%). Sources:

A new category acceleration will boost profitability until 2024.