Imperial Brands PLC Update on Russia & Revised Guidance (8004E)
15 Marzo 2022 - 08:00AM
UK Regulatory
TIDMIMB
RNS Number : 8004E
Imperial Brands PLC
15 March 2022
IMPERIAL BRANDS PLC
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
15 March 2022
UPDATE ON RUSSIA & REVISED GUIDANCE
Following our announcement of 9 March 2022, we have begun
negotiations with a local third party about a transfer of our
Russian assets and operations. We believe that, in the current
circumstances, an orderly transfer of our business as a going
concern would be in the best interests of our Russian colleagues.
We employ 1,000 people in Russia in our sales and marketing
operations and in our factory in Volgograd - and their safety and
wellbeing is our key priority in this process. We will also
continue to pay their salaries until any transfer is concluded.
Meanwhile, we are also supporting our Ukrainian colleagues and
their families, including with transport and accommodation to
enable them to escape the areas most severely hit by conflict, as
well as resettlement assistance for those who have left
Ukraine.
We have evaluated the financial impact of an exit from Russia
and the previously announced suspension of operations in Ukraine on
our full-year guidance for FY22. We now expect full-year constant
currency net revenue growth of around 0-1 per cent. While there
will be some ongoing costs related to the suspension in Ukraine, we
expect a relatively small impact on our constant currency adjusted
operating profit, reflecting the limited profit contribution of the
two markets. In FY21, Russia and Ukraine represented in total
around 2 per cent of net revenues and 0.5 per cent of adjusted
operating profit. Any transaction relating to our Russian business
is subject to agreement being reached.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 328 +44 (0)7740 096
Peter Durman 903 Jonathan Oliver 018
+44 (0)7581 052
880
James King +44 (0)7974 615 +44 (0)7967 467
Jennifer Ramsey 739 Simon Evans 684
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