DOCSLIB.ORG

Imperial Tobacco Group PLC Annual Report and Accounts 2011 PO Box 244 Upton Road Obacco Gr Bristol BS99 7UJ UK Oup PLC

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Imperial Tobacco Group PLC Annual Report and Accounts 2011 PO Box 244 Upton Road Obacco Gr Bristol BS99 7UJ UK Oup PLC Registered Office Imperial T Imperial Tobacco Group PLC Imperial Tobacco Group PLC Annual Report and Accounts 2011 PO Box 244 Upton Road obacco Gr Bristol BS99 7UJ UK www.imperial-tobacco.com oup PLC Annual Report and Accounts 2011 p ential This document is printed by Park Communications. Park is an EMAS certified CarbonNeutral® Company and its Environmental Management System is certified to ISO14001. 100% of the inks used are vegetable oil based 95% of press chemicals are recycled for further use and on average 99% of any waste associated with this production will be recycled. This document is printed on Heaven 42; a paper sourced from well managed, sustainable, FSC certified forests, and bleached using a chlorine free process. Designed and produced by Black Sun Plc Index Directors Non-EU 24 A Biographies 45 Non-Financial Performance Indicators 41 Accounting Policies 82, 126 Interests in Shares 64 Notes to the Financial Statements 88 www.imperial-tobacco.com Acquisitions 123 Pensions 72 Notes to the Financial Statements Adjusted Earnings Per Share 11 Remuneration 60 of Imperial Tobacco Group PLC 126 Adjusted Measures 85 Responsibilities 59 Africa 26 Directors and Employees 91 O American Depositary Receipts/Shares 132 Disclosure Committee 54 Americas 25 Dividend Reinvestment Plan (DRIP) 132 Office of Fair Trading 58, 122 Analysis of Net Debt 122 Dividends 32, 56, 93 Operating Executive 50 Annual General Meeting 55, 132 Operating Review 20 Asia-Pacific 26 E Audit Committee 52 Auditors Earnings Per Share 11, 30, 93 P Remuneration 55, 90 Employees 56, 91 Pensions 72 Report 76, 124 EU 20 People 14 Australia 25 Excise Duty 17 Poland 21 Austria 23 Execution Excellence 15 Portfolio Management 14 Portugal 23 F Pricing 14 B Principal Risks and Uncertainties 16 In this report Balance Sheet (Consolidated) 79 Financial Calendar 132 Principal Undertakings 129 Balance Sheet (Parent) 125 Financial Highlights 5 Profit Before Taxation 90 Belgium 21 Financial Review 30 Property, Plant and Equipment 96 Board Committees 46 Financial Statements 75 Provisions 118 Board of Directors 44 France 21 Borrowings and Derivative Future Foundations 15 R Strategy Financial Instruments 99 Brand Equity 14 G Reconciliation of Cash Flow to We explain our sales growth Business Model 3 Movement in Net Debt 123 strategy in more detail and our Business Overview 2 Germany 21 Registrars 131 areas of focus that will drive our Governance 42 Regulation 18 Greece 21 Remuneration Committee 60 future growth. C Group Performance 30 Remuneration Report 60 Cash and Cash Equivalents 99 Rest of EU 23 Cash Conversion Rate 13 Rest of the World 26 Risk Cash Flows from Operating Activities 122 H Restructuring Costs 90 Cash Flow Statement 81 Retirement Benefit Schemes 84, 115 We explain how we manage Habanos 26 Cash Utilisation 12 Hungary 21 Revenue Performance 30 and mitigate the risks facing Chairman’s Introduction 6 Russia 25 our business. Chairman’s Introduction to Governance 43 I Charitable and Political Donations 56 S Chief Executive’s Review 8 Illicit Trade 17 Performance Commitments 121 Income Statement 77 Sales Growth 12 Consumer Centric 15 Innovation 14 Sales Growth Drivers 14 We made gains in EU and Contents 1 Introduction 1 Saudi Arabia 25 Non-EU markets with an excellent Corporate Governance Report 46 Intangible Assets 94 Segment Information 88 performance in emerging markets. Corporate Responsibility Review 33 Inventories 98 Share Capital 56, 118 Anti-illicit Trade 35 Italy 21 Shares 121 Assurance 35 Share Schemes 119 Carbon Disclosure Project 39 Shareholder Information 131 Responsibility Code of Conduct 38 J Spain 21 Acting responsibly is simply part Climate Change 38 Joint Ventures 97 Statement of Changes in Equity 80 Diversity and Equality 37 of how we do business. Statement of Comprehensive Income 78 Enabling our People 37 Stick Equivalent Volumes 13 Environmental Performance 39 K Strategy 4, 11 Ingredients Reporting 36 Marketing Standards 36 Key Assets 14 Governance Partnership Investment 40 Key Enablers 15 T Product Quality 36 Key Performance Indicators 11 Our embedded high standards Taiwan 25 Responsibility Strategy 34 Taxation 92 of corporate governance Social Assessment and L Tobacco Adjusted Operating Margin 13 and our strong management Human Rights 38 Tobacco Net Revenue 13 Laos 26 Supply Chain 40 Total Shareholder Return 7, 11 team support our sales Legal Proceedings 87, 122 Tobacco and Health 36 Total Tobacco 2, 14 growth strategy. Litigation 19, 58 Tobacco Regulation 35 Trade and Other Payables 99 Logistics 28 Workplace Health and Safety 37 Trade and Other Receivables 98 Youth Smoking Prevention 36 Treasury Shares 121 Cost Optimisation 12 M Turkey 25 Creditor Payment Policy 56 Critical Accounting Estimates Market Footprint 14 and Judgements 87 Middle East 26 U Morocco 25 Customer Engagement 14 Ukraine 25 Czech Republic 21 United Kingdom 21 N United States of America 25 D Net Finance Costs 32, 91 Deferred Tax Assets and Liabilities 114 Netherlands 21 W New Zealand 26 Development Executive 50 World Tobacco Market Overview 10 Nominations Committee 51 Introduction 1 Overview Strategy Risk Performance Contents Overview Financial Statements and Notes Governance 1 Introduction 76 Independent Auditors’ Report to the 3 How we create value for our shareholders Members of Imperial Tobacco Group PLC 5 Financial Highlights 77 Consolidated Income Statement 6 Chairman’s Introduction 78 Consolidated Statement of Comprehensive Income Financials 79 Consolidated Balance Sheet 80 Consolidated Statement of Changes in Equity Directors’ Report: Strategy 81 Consolidated Cash Flow Statement 8 Chief Executive’s Review 82 Accounting Policies 11 Our Strategy 87 Critical Accounting Estimates and Judgements 88 Notes to the Group Financial Statements Directors’ Report: Risk 124 Independent Auditors’ Report to the Members of Imperial Tobacco Group PLC 16 Principal Risks and Uncertainties 125 Imperial Tobacco Group PLC Balance Sheet 126 Notes to the Financial Statements of Directors’ Report: Performance Imperial Tobacco Group PLC 20 Operating Review 30 Financial Review Supplementary Information 33 Corporate Responsibility Review 129 Principal Undertakings 41 Non-Financial Performance Indicators 131 Shareholder Information IBC Index Directors’ Report: Governance 43 Chairman’s Introduction 44 Board of Directors 46 Corporate Governance Report 60 Directors’ Remuneration Report Imperial Tobacco Group PLC | Annual Report and Accounts 2011 2 Introduction continued Overview Who we are and what we do We are a leading international tobacco company with a strong track record of creating value for our shareholders by driving sustainable sales, optimising costs Strategy and effectively utilising the cash we generate. What makes us different We drive sales growth through our unique total tobacco portfolio with brands and products across the tobacco category. Risk Performance ngth tre W Governance s fi o l es ne rld a tt c n re ut N io a t o t g o . a i b 1 c n a i r n n c e i c t o n I Total Financials Tobacco p s W r a a p o g r i e l r d c s N n a o i n . .1 d 1 o t in N ub ld es Wor Through our total tobacco portfolio The strength and breadth of our we provide consumers with the most portfolio provides us with significant comprehensive range of brands future sales growth opportunities. and products in the world including We are focused on realising this cigarettes, fine cut tobacco, cigars potential, by using our portfolio to and snus. reach more consumers in more markets on more consumption occasions. Imperial Tobacco Group PLC | Annual Report and Accounts 2011 3 Overview How we create value for our shareholders Our Business Model Strategy Risk High Margin Profits Performance Governance Strong Sales Cash Flow Financials Reinvest Maximising Shareholder Returns How our Business Model works Sustainable sales growth combined with Maximising shareholder returns is about our ongoing efficient management of growing our sales, maximising our cash operations generate high operating margins. flow and then successfully redeploying These high margin profits combined that cash. with our management of working capital Our strategy is to sustainably grow sales generate our substantial cash flows. We by focusing on our sales growth drivers then reinvest our cash to grow sales or and we support these through our focus make acquisitions that meet our strategic on our consumers, execution excellence criteria, or we return our cash to our and building strong future foundations. shareholders to maximise their returns. Imperial Tobacco Group PLC | Annual Report and Accounts 2011 4 Introduction continued Overview How we create value for our shareholders Our Strategy Strategy Risk Delivering sustainable shareholder returns Performance Cost Sales Cash Optimisation Growth Utilisation Governance Our Key Assets Market Total Brand People Financials Footprint Tobacco Equity Sales Growth Drivers Portfolio Customer Innovation Pricing Management Engagement Key Enablers Consumer Execution Future Centric Excellence Foundations Our Strategy Read more about our strategy on pages 11 – 15. Imperial Tobacco Group PLC | Annual Report and Accounts 2011 2011 Financial Highlights 5 Overview How we have performed Strategy Change at Constant Highlights – adjusted basis1 2011 Change Currency3 2010 2 Risk Stick equivalents KPI 343.4bn -1.5% 348.5bn 4 Tobacco net revenue KPI £6,913m +1.8% +2.0% £6,793m Logistics distribution fees £932m -0.4% -0.3% £936m Tobacco adjusted operating profit £2,924m +1.2% +1.3% £2,889m Performance Logistics adjusted operating profit £183m +4.0% +4.0% £176m Total adjusted operating profit £3,103m +1.2% +1.3% £3,067m Adjusted earnings per share KPI 188.0p +5.1% +5.4% 178.8p Governance Highlights – reported basis 2011 Change 2010 Revenue £29,223m +3.7% £28,173m Financials Operating profit £2,640m +4.4% £2,528m Basic earnings per share 177.3p +19.4% 148.5p Dividend per share 95.1p +12.8% 84.3p 1 Management believes that these non-GAAP measures provide a useful comparison of business performance and reflect the way in which the business is controlled.
Load more

Recommended publications
  • Annual Report and Accounts 2019
    IMPERIAL BRANDS PLC BRANDS IMPERIAL ANNUAL REPORT AND ACCOUNTS 2019 ACCOUNTS AND REPORT ANNUAL ANNUAL REPORT AND ACCOUNTS 2019 OUR PURPOSE WE CAN I OWN Our purpose is to create something Everything See it, seize it, is possible, make it happen better for the world’s smokers with together we win our portfolio of high quality next generation and tobacco products. In doing so we are transforming WE SURPRISE I AM our business and strengthening New thinking, My contribution new actions, counts, think free, our sustainability and value creation. exceed what’s speak free, act possible with integrity OUR VALUES Our values express who we are and WE ENJOY I ENGAGE capture the behaviours we expect Thrive on Listen, challenge, share, make from everyone who works for us. make it fun connections The following table constitutes our Non-Financial Information Statement in compliance with Sections 414CA and 414CB of the Companies Act 2006. The information listed is incorporated by cross-reference. Additional Non-Financial Information is also available on our website www.imperialbrands.com. Policies and standards which Information necessary to understand our business Page Reporting requirement govern our approach1 and its impact, policy due diligence and outcomes reference Environmental matters • Occupational health, safety and Environmental targets 21 environmental policy and framework • Sustainable tobacco programme International management systems 21 Climate and energy 21 Reducing waste 19 Sustainable tobacco supply 20 Supporting wood sustainability
    [Show full text]
  • Imperial Tobacco Group Plc Interim Management Statement for the Nine Months Ended 30 June 2015
    IMPERIAL TOBACCO GROUP PLC INTERIM MANAGEMENT STATEMENT FOR THE NINE MONTHS ENDED 30 JUNE 2015 STRATEGIC PROGRESS CONTINUES – ON TRACK FOR FULL YEAR Strengthening our Portfolio • Excellent results from Growth Brands; underlying net revenue, underlying volume and market share up 14 per cent, 10 per cent and 100 bps respectively • Continued success of brand migrations; 13 complete (8 in FY15), 21 ongoing; high level of consumer retention • Growth and Specialist Brands proportion of reported tobacco net revenue up 580 bps to 59 per cent Developing our Footprint • Continued progress in Growth Markets: underlying net revenue down 1 per cent; up 3 per cent ex Iraq • Improving underlying net revenue growth of 1 per cent in Returns Markets • Total underlying net revenue flat and volumes down 6 per cent (net revenue up 1 per cent and volumes down 4 per cent ex Iraq) • Acquisition of US assets completed; ITG Brands fully operational and integration progressing to plan Cost Optimisation • Focus on complexity reduction, improved ways of working and cost efficiencies ongoing • Cost optimisation programme remains on track to deliver £85 million savings in FY15 Capital Discipline • Expect cash conversion of c.90 per cent for the full year with consistent focus on managing working capital • Continuing commitment to ongoing debt reduction • On track to deliver dividend growth of 10 per cent for the full year Overview 9 months to 30 June Change Constant 2015 2014 Actual Currency1 Underlying2 Growth Brands volume bn SE 105.4 91.7 +15% - +10% Tobacco net revenue3 £m 4,435 4,632 R -4% +2% 0% Total Tobacco volume3 bn SE 207.4 213.3 -3% - -6% 1 Change at constant currency removes the effect of exchange rate movements on the translation of the results of our overseas operations.
    [Show full text]
  • Norsk Varemerketidende Nr 48/16
    . nr 48/16 - 2016.11.28 NO årgang 106 ISSN 1503-4925 Norsk varemerketidende er en publikasjon som inneholder kunngjøringer innenfor varemerkeområdet BESØKSADRESSE f Sandakerveien 64 POSTADRESSE f Postboks 8160 Dep. 0033 Oslo E-POST f [email protected] TELEFON f +47 22 38 73 00 INFOSENTERETS TELEFONTID f kl. 09.00 - 15.00 Telefon: +47 22 38 73 33 innholdsfortegnelse og inid-koder 2016.11.28 - 48/16 Innholdsfortegnelse: Etterlysning ............................................................................................................................................................ 3 Registrerte varemerker ......................................................................................................................................... 4 Internasjonale varemerkeregistreringer ............................................................................................................ 82 Ansvarsmerker .................................................................................................................................................. 145 Innsigelser .......................................................................................................................................................... 146 Begrensing i varefortegnelsen for internasjonale varemerkeregistreringer ............................................... 149 Begrensing av varer eller tjenester for nasjonale registreringer ................................................................. 156 Trekninger/slettelser begjært av søker/innehaver ........................................................................................
    [Show full text]
  • Negativliste. Tobaksselskaber. Oktober 2016
    Negativliste. Tobaksselskaber. Oktober 2016 Læsevejledning: Indrykket til venstre med fed tekst fremgår koncernen. Nedenunder, med almindelig tekst, fremgår de underliggende selskaber, som der ikke må investeres i. Alimentation Couche Tard Inc Alimentation Couche-Tard Inc Couche-Tard Inc Alliance One International Inc Alliance One International Inc Altria Group Inc Altria Client Services Inc Altria Consumer Engagement Services Inc Altria Corporate Services Inc Altria Corporate Services International Inc Altria Enterprises II LLC Altria Enterprises LLC Altria Finance Cayman Islands Ltd Altria Finance Europe AG Altria Group Distribution Co Altria Group Inc Altria Import Export Services LLC Altria Insurance Ireland Ltd Altria International Sales Inc Altria Reinsurance Ireland Ltd Altria Sales & Distribution Inc Altria Ventures Inc Altria Ventures International Holdings BV Batavia Trading Corp CA Tabacalera Nacional Fabrica de Cigarrillos El Progreso SA Industria de Tabaco Leon Jimenes SA Industrias Del Tabaco Alimentos Y Bebidas SA International Smokeless Tobacco Co Inc National Smokeless Tobacco Co Ltd Philip Morris AB Philip Morris Albania Sh pk Philip Morris ApS Philip Morris Asia Ltd Philip Morris Baltic UAB Philip Morris Belgium BVBA Philip Morris Belgium Holdings BVBA Philip Morris Belgrade doo Philip Morris BH doo Philip Morris Brasil SA Philip Morris Bulgaria EEOD Philip Morris Capital Corp Philip Morris Capital Corp /Rye Brook Philip Morris Chile Comercializadora Ltda Philip Morris China Holdings SARL Philip Morris China Management
    [Show full text]
  • Delivering Against Our Strategy with Adjusted Eps up 12%
    IMPERIAL BRANDS PLC PRELIMINARY RESULTS FOR THE 12 MONTHS ENDED 30 SEPTEMBER 2016 DELIVERING AGAINST OUR STRATEGY WITH ADJUSTED EPS UP 12% Performance Headlines Delivering against strategy • Tobacco net revenue up 9.7% • Total adjusted operating profit up 10.4% • Adjusted EPS up 12.0% • Cash conversion 95% • Dividend growth of 10% Next Phase of Strategy to Support Sustainable Quality Growth • Strategy is delivering a stronger business providing a solid foundation for the next decade of growth • Maintaining focus on our same four strategic priorities to drive growth in both revenue and profit • New investment of £300m in FY17 behind selected quality growth opportunities • Supported by a further phase of cost optimisation with an additional £300m of annual savings by 2020 Alison Cooper, Chief Executive, commented “We delivered another strong performance this year with great results from our expanded US business, and we further improved the quality of our growth. We grew the dividend by 10 per cent for the eighth consecutive year and remain committed to this level of increase over the medium term. Our strategy is delivering and we see scope for significant further shareholder value creation by remaining relentlessly focused on the same four strategic priorities. We are today also announcing further investment behind our strategy to support revenue growth over the medium term. This investment will be supported by a new phase of cost optimisation, targeting a further £300 million of annual savings by 2020, at a cost of £750 million. We have
    [Show full text]
  • ANNUAL REPORT and ACCOUNTS 2017 INVESTING for GROWTH Our Business Is Built on Great Brands and Great People
    ANNUAL REPORT AND ACCOUNTS 2017 INVESTING FOR GROWTH Our business is built on great brands and great people. Our brands are recognised and enjoyed by millions of people around the world. And our people are focused on creating the great moments that bring our business to life on a daily basis. 2017 has been an important year of progress for Imperial Brands. We’ve stepped up investment to support growth and created further value for our shareholders. See how we’re delivering against our strategy. CONTENTS STRATEGIC REPORT GOVERNANCE SUPPLEMENTARY INFORMATION OVERVIEW Chairman’s Introduction 33 Related Undertakings 130 Performance Overview 1 Board of Directors 34 Shareholder Information 144 Chairman’s Statement 2 The Board and its Committees 36 Our Brands and Markets 3 Directors’ Report 45 STRATEGY Directors’ Remuneration Report 52 How We Create Value 4 FINANCIAL STATEMENTS Key Performance Indicators 8 AND NOTES Our Operating Environment 10 Independent Auditors’ Report 75 Chief Executive’s Statement 11 Consolidated Income Statement 80 Investment Case 14 Consolidated Statement of Comprehensive Income 81 PERFORMANCE Consolidated Balance Sheet 82 Operating Review 15 Consolidated Statement of Changes Financial Review 20 in Equity 83 Principal Risks and Uncertainties 24 Consolidated Cash Flow Statement 84 Corporate Responsibility 29 Notes to the Financial Statements 85 Imperial Brands PLC Balance Sheet 126 Imperial Brands PLC Statement of Changes in Equity 126 For a more interactive experience visit: Notes to the Financial Statements www.imperialbrandsplc.com
    [Show full text]
  • Corporate Responsibility Review 2006 Progress in Responsibility Highlights 2006
    Imperial Tobacco Group PLC Corporate Responsibility Review 2006 Progress in responsibility Highlights 2006 90% 64th 32% in BiTC Environment in BITC ‘Top 100 less waste to landfill* index 2005 Companies That Count’ Achievements Developed potential products, and initiated dialogue with governments for their consideration as Potentially Reduced Exposure Products (PREPs) Achieved all environmental performance targets for 2010 ahead of schedule Energy consumption down* by 11% Carbon dioxide emissions down* by 20% Waste output down* by 3% Waste to landfill down* by 32% Water consumption down* by 12% Achieved ISO 14001 certification at 4 more manufacturing sites (61% of sites now certified, covering 80% of turnover) Created significant partnerships with local NGOs, including environmental, malaria control and HIV/AIDS Developed a new non-financial reporting system to collect data from our sites and markets Finalised non-financial reporting arrangements and Advisory Panel Set up a network of corporate responsibility co-ordinators in our Sales & Marketing function Local management control delivered stable accident rates Created training programmes in CR and stakeholder engagement *Absolute values for financial year 2005 compared with 2001 base year, 2004 base year for waste External opinion Scored 73% (66% in 2005) in the SAM Research assessment for the Dow-Jones Sustainability Index 2006, against a sector average of 66% (the highest score was 79%) Named as 64th in the 2006 ‘Top 100 Companies That Count’ by the UK’s Business in the Community Scored
    [Show full text]
  • Reporting Responsible Performance: Principles, Criteria and Methodologies
    REPORTING RESPONsiBLE PERFORMANCE: PRINCIPLES, CRITERIA AND METHODOLOGIES Introduction We engage an independent third In 2013, we undertook our first This document sets out Imperial Brands’ party to provide assurance and data assessment of ‘materiality’ to determine reporting approach and criteria which verification for our publicly reported how important our sustainability enables the PLC Board’s commitment to information. This is in line with good issues are to us and our stakeholders. disclose our responsible performance. practice and to help build trust with This assessment was informed by our stakeholders. The assurance and the work of an external agency that We aim to: verification exercise is scoped to test identified and quantified relevant whether reporting is accurate and social and environmental risks • Report our activities honestly and give reliable, and to enable the third party within the geographical context of a fair impression of business conduct; to provide an opinion as to whether the our value chain and the relevance to reporting provides a fair and balanced our main stakeholders. This work was • Provide key stakeholders with view of responsible performance. The validated by the Responsibility Steering appropriate information, as guided by assurance and verification involves data Committee. leading frameworks and standards assessment, sample site visits and a such as the Global Reporting Initiative; number of interviews with management Towards the end of financial year 2016, and and relevant personnel. we revisited our materiality assessment to review, identify and prioritise the • Inform relevant investor evaluations We have a formal approach to most important sustainability issues and indices responsibility reporting, which identifies for our business.
    [Show full text]
  • Imperial Brands Finance
    Prospectus Imperial Brands Finance PLC (Incorporated with limited liability in England and Wales with registered number 03214426) €15,000,000,000 Debt Issuance Programme Irrevocably and unconditionally guaranteed by Imperial Brands PLC (Incorporated with limited liability in England and Wales with registered number 03236483) This Prospectus amends, restates and supersedes the prospectus dated 6 December 2016. Any Notes issued after the date hereof under the Debt Issuance Programme described in this Prospectus (the “Programme”) are issued subject to the provisions set out herein. T his Prospectus will not be effective in respect of any Notes issued under the Programme prior to the date hereof. Under the Programme, Imperial Brands Finance PLC (the “Issuer”), subject to compliance with all relevant laws, regulations and directives, may from time to time issue debt securities (the “Notes”) guaranteed by Imperial Brands PLC (“Imperial Brands” or the “Guarantor”) and Imperial Tobacco Limited (“ITL” or “Imperial Tobacco”). Please see the Trust Deed dated 30 January 2019 (the “Trust Deed”) which is available for viewing by Noteholders as described on page 107 for further details about the Imperial Brands guarantee and page 91 for further details regarding the ITL guarantee. The aggregate nominal amount of Notes outstanding will not at any time exceed €15,000,000,000 (or the equivalent in other currencies). Application has been made to the Financial Conduct Authority in its capacity as competent authority (the “UK Listing Authorit y”) for Notes issued under the Programme for the period of 12 months from the date of this Prospectus to be admitted to the offic ial list of the UK Listing Authority (the “Official List”) and to the London Stock Exchange plc (the “London Stock Exchange”) for such Notes to be admitted to trading on the London Stock Exchange’s Regulated Market (the “Market”).
    [Show full text]
  • Imperial Tobacco Group Annual Report and Accounts 2012
    Building Total Tobacco Brands Imperial Tobacco Group PLC Annual Report and Accounts 2012 Introduction Overview Who we are Strategic Review We’re a leading international tobacco company with a strong track record of creating value for our shareholders. Performance We employ 37,000 people and sell our products in more than 160 countries around the world. Risk Our total tobacco portfolio and our understanding of consumers set us apart from our competitors and provides significant future growth opportunities. Governance Our unique values further differentiate us, guiding the way we work with each other and our stakeholders. Financials Building Total Tobacco Brands Cover image: Davidoff iD We delivered 9 per cent volume growth in our key strategic premium brand Davidoff this year. The launch of Davidoff iD in the second half of the year was a major portfolio initiative to accelerate momentum behind the brand. www.imperial-tobacco.com Imperial Tobacco Group PLC | Annual Report and Accounts 2012 Contents 1 Overview Directors’ Report: Overview Directors’ Report: Governance IFC Introduction 58 Chairman’s Introduction 2 Business Model 60 Board of Directors 4 Results in Brief 64 Board Committees 5 Chairman’s Statement 70 Directors’ Governance Report Strategic Review 77 Directors’ Remuneration Report Directors’ Report: Strategic Review 8 Chief Executive’s Review Financial Statements and Notes 11 Key Performance Indicators 95 Independent Auditors’ Report to the 12 People and Values Members of Imperial Tobacco Group PLC Performance 14 Sales Growth Drivers
    [Show full text]
  • GROWTH Worldreginfo - 7017Cd3e-495C-4762-B1b1-3Bd868eb8567 Our Business Is Built on Great Brands and Great People
    ANNUAL REPORT AND ACCOUNTS 2017 INVESTING FOR GROWTH WorldReginfo - 7017cd3e-495c-4762-b1b1-3bd868eb8567 Our business is built on great brands and great people. Our brands are recognised and enjoyed by millions of people around the world. And our people are focused on creating the great moments that bring our business to life on a daily basis. 2017 has been an important year of progress for Imperial Brands. We’ve stepped up investment to support growth and created further value for our shareholders. See how we’re delivering against our strategy. CONTENTS STRATEGIC REPORT GOVERNANCE SUPPLEMENTARY INFORMATION OVERVIEW Chairman’s Introduction 33 Related Undertakings 130 Performance Overview 1 Board of Directors 34 Shareholder Information 144 Chairman’s Statement 2 The Board and its Committees 36 Our Brands and Markets 3 Directors’ Report 45 STRATEGY Directors’ Remuneration Report 52 How We Create Value 4 FINANCIAL STATEMENTS Key Performance Indicators 8 AND NOTES Our Operating Environment 10 Independent Auditors’ Report 75 Chief Executive’s Statement 11 Consolidated Income Statement 80 Investment Case 14 Consolidated Statement of Comprehensive Income 81 PERFORMANCE Consolidated Balance Sheet 82 Operating Review 15 Consolidated Statement of Changes Financial Review 20 in Equity 83 Principal Risks and Uncertainties 24 Consolidated Cash Flow Statement 84 Corporate Responsibility 29 Notes to the Financial Statements 85 Imperial Brands PLC Balance Sheet 126 Imperial Brands PLC Statement of Changes in Equity 126 For a more interactive experience
    [Show full text]
  • Annual Report and Accounts 2005
    PLEASE DO NOT PRINT IMPERIAL TOBACCO GROUP PLC IMPERIAL TOBACCO GROUP PLC ANNUAL REPORT AND ACCOUNTS 2005 ANNUAL REPOR strategy T AND ACCOUNTS focus www.imperial-tobacco.com 2005 multi-product international growth IMPERIAL TOBACCO GROUP PLC PO BOX 244 SOUTHVILLE BRISTOL BS99 7UJ IMPERIAL TOBACCO is the largest international tobacco which manufactures, market a comprehensive range of ci tobaccos, rolling papers and Our Strategy… is to create sustainable shareholder value by growing our international operations both organically and through acquisitions. 02 INTRODUCTION 04 FINANCIAL HIGHLIGHTS world’s fourth 06 CHAIRMAN’S STATEMENT 08 COMPANY HALLMARKS 16 OPERATING AND FINANCIAL REVIEW 30 OUR PEOPLE 32 CORPORATE RESPONSIBILITY 34 BOARD OF DIRECTORS o company, 36 CHIEF EXECUTIVE’S COMMITTEE 37 REPORT OF THE DIRECTORS 39 CORPORATE GOVERNANCE REPORT 50 DIRECTORS’ REMUNERATION REPORT 65 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF IMPERIAL TOBACCO GROUP PLC t s and sells 66 CONSOLIDATED PROFIT AND LOSS ACCOUNT 66 CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES 67 CONSOLIDATED BALANCE SHEET 68 CONSOLIDATED CASH FLOW STATEMENT i garettes, 69 ACCOUNTING POLICIES 71 NOTES TO THE ACCOUNTS 105 IMPERIAL TOBACCO GROUP PLC BALANCE SHEET 106 NOTES TO THE IMPERIAL TOBACCO GROUP PLC BALANCE SHEET 108 SHAREHOLDER INFORMATION d cigars. 110 PRINCIPAL SUBSIDIARIES 112 INDEX 113 GLOSSARY OF TERMS IMPERIAL TOBACCO GROUP PLC / 2005 01 WHAT WE DO… We produce a comprehensive range of cigarettes, other tobacco products and rolling papers. Our strategy for brand management is centred on growing brand equity and profitability. SOME BRAND HIGHLIGHTS > Davidoff Our key international premium cigarette brand sold in over 70 countries worldwide.
    [Show full text]