Filing Flows › British American Tobacco p.l.c. (BTI) › H2 2025 › vs H1 2025
British American Tobacco p.l.c. (BTI) H2 2025 vs H1 2025 (quarter over quarter)
British American Tobacco p.l.c.'s revenue rose $1.5B (+12%) from $12.1B in H1 2025 to $13.5B in H2 2025. Operating margin 31.6% against 46.2% (-14.5 pts).
British American Tobacco p.l.c., H2 2025: revenue $13.5B, operating margin 31.6%, net earnings $3.3B, operating cash flow $4.0B. The chart draws each line against H1 2025, the increases inside each band.
Margins
| H2 2025 | H1 2025 | Change | |
|---|---|---|---|
| Operating margin | 31.6% | 46.2% | -14.5 pts |
| Net margin | 24.0% | 37.4% | -13.4 pts |
Every line
| Line | H2 2025 | H1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $13.5B | $12.1B | $1.5B | +12% |
| Operating profit | $4.3B | $5.6B | −$1.3B | -23% |
| Costs & expenses | $9.3B | $6.5B | $2.8B | +43% |
| Pre-tax earnings | $4.3B | $5.6B | −$1.3B | -23% |
| Loss borne by minority interests | $52.0M | −$53.0M | $105M | — |
| Net earnings | $3.3B | $4.5B | −$1.3B | -28% |
| Income tax | $1.1B | $1.0B | $76.0M | +8% |
| Working capital & other | $781M | −$2.2B | $3.0B | — |
| Operating cash flow | $4.0B | $2.3B | $1.7B | +75% |
Questions
How much did British American Tobacco p.l.c.'s revenue grow quarter over quarter in H2 2025?
British American Tobacco p.l.c.'s revenue rose $1.5B (+12%) from $12.1B in H1 2025 to $13.5B in H2 2025. Operating margin 31.6% against 46.2% (-14.5 pts).