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    Rey Wium

    Senior Equity Analyst at Anchor Stockbrokers

    Rey Wium is a Senior Equity Analyst at Anchor Stockbrokers specializing in South African industrial metals and related sectors, with 30 years of experience in financial markets. He has consistently ranked as a top-rated analyst in the South African market, notably covering companies in the industrial metals space and demonstrating strong performance metrics, such as high rankings in industry awards and recognized expertise in equity research. Wium began his analyst career in the early 1990s, with previous tenures at firms including Avior Capital Markets, before joining Anchor Stockbrokers where he remains an influential figure in the industry. He holds industry-recognized credentials and licenses and is regularly acknowledged in analyst rankings for his insight and impact.

    Rey Wium's questions to British American Tobacco (BTI) leadership

    Rey Wium's questions to British American Tobacco (BTI) leadership • H1 2025

    Question

    Rey Wium from Anchor Stockbrokers questioned the outlook for U.S. combustible volume declines, the status of the Velo 2.0 FDA application given VeloPlus's success, and requested a clarification on the adjusted EPS calculation.

    Answer

    CEO Tadeu Marroco stated that the U.S. industry volume decline is stable around 8% and not expected to change significantly, though BAT's own performance is strong. He explained that Velo 2.0 would be complementary to VeloPlus and its approval timeline depends on the FDA. CFO Soraya Benchikh clarified the EPS figures, advising to focus on the 162.1p constant currency number, as the 155.5p figure is on a current basis.

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    Rey Wium's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership

    Rey Wium's questions to COMPAGNIE FINANCIERE RICHEMONT AG /FI (CFRUY) leadership • Q2 2016

    Question

    Rey Wium asked for clarification on the working capital outflow, the strategy for property investments, the non-cash monetary item in the income statement, and the growth rate for Montblanc.

    Answer

    CFO Gary Saage explained that the working capital outflow was due to a normal seasonal build in receivables and a significant cash settlement for the Net-a-Porter incentive programs. He clarified that property investments are opportunistic rather than a core strategy. Of the finance income, €85 million was a non-cash item related to cash balances. He declined to provide a specific growth figure for Montblanc but confirmed it was performing 'very well'.

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