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Damage to the Endothelium A healthy endothelium is a smooth, non-stick surface that allows blood to flow freely

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It is possible then that investors will require higher FCF yields and lower multiples to compensate for the dynamics currently at play in the sector, and tangible evidence of the net debt/ EBITDA ratio reducing as per guidance below (see Figure 6 ) Figure 6: BAT net debt and net debt/ EBITDA UBS forecasts Source: UBS Overall, we would hold BAT in yield-focused portfolios, with a sharp eye on the ability of sustainable earnings and cash flow generation to support the dividend, at least over the next two FY reporting periods, and up to a point where the market is comfortable with the firms debt levels.

Of course, these are just examples, and savings and offers will vary at every location

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Consider energy efficiency and labor savings when evaluating automated models