Disposal

RNS Number : 7814I

Imperial Brands PLC

20 April 2022

 

IMPERIAL BRANDS PLC

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

20 April 2022

Update on Russia

Imperial Brands today announces the transfer of its Russian business to investors based in Russia, subject to finalisation of the registration of the transaction with local authorities, which is expected to take place shortly.

The transaction aligns with our previously announced intention to divest our entire Russian operation as a going concern in order to provide the best outcome for our 1,000 Russian colleagues.

Imperial's operations include a sales and marketing business, and a factory in Volgograd.

We continue to support our Ukrainian colleagues and their families, including with transport and accommodation to enable them to escape the areas most heavily affected by war, and resettlement assistance for those who have left Ukraine.

There is no change to our previous guidance on the financial impact of our exit from Russia and suspension of our Ukraine operations. In FY21, Russia and Ukraine represented in total around 2 per cent of net revenues and 0.5 per cent of adjusted operating profit. In addition, we estimate a non-cash write off of around £225 million for this transaction, which we expect to be treated as an adjusting item.

ENDS

Investor Contacts		Media Contacts
Peter Durman	[phone]	Jonathan Oliver	[phone]
James King	[phone]
Jennifer Ramsey	[phone]

Cautionary Statement

Certain statements in this announcement constitute or may constitute forward-looking statements. Any statement in this announcement that is not a statement of historical fact including, without limitation, those regarding the Company's future expectations, operations, financial performance, financial condition and business is or may be a forward-looking statement. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied in any forward-looking statement. These risks and uncertainties include, among other factors, changing economic, financial, business or other market conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described in this announcement. As a result, you are cautioned not to place any reliance on such forward-looking statements. The forward-looking statements reflect knowledge and information available at the date of this announcement and the Company undertakes no obligation to update its view of such risks and uncertainties or to update the forward-looking statements contained herein. Nothing in this announcement should be construed as a profit forecast or profit estimate and no statement in this announcement should be interpreted to mean that the future earnings per share of the Company for current or future financial years will necessarily match or exceed the historical or published earnings per share of the Company. This announcement has been prepared for, and only for the members of the Company, as a body, and no other persons. The Company, its Directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this announcement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed.

 

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