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UNITED STATES

PMI’s net revenues rise

09 Feb 2018. Philip Morris International Inc. (PMI) has just released fourth-quarter and 2017 full-year results which show that its net revenues have increased by 4.2 per cent, according to PMI’s press release.

PMI's net revenues were USD 78.1 billion (EUR 63.7 billion) in 2017. Excluding excise taxes, the company’s net revenues of USD 28.7 billion (EUR 23.4 billion) increased by 7.7 per cent from 2016. Furthermore, net revenues, excluding excise taxes and unfavourable currency, were up 9.4 per cent.

These figures stand in contrast to the decline in cigarette and heated tobacco unit shipment volume which decreased by 2.7 per cent from the previous year to reach 798.2 billion units, as stated in the report. PMI’s international market share, which does not include China and the United States, was down 0.1. point to reach 28 per cent.

The company full-year report also included the operating income which was up by 6.4 per cent in 2017 from 2016 to reach USD 11.5 billion (EUR 9.4 billion), and the operating companies income of USD 11.5 billion (EUR 9.6 billion), which increased by 6 per cent.

André Calantzopoulos, Chief Executive Officer, commented on the results: "A strong fourth-quarter performance helped drive robust full-year results, exemplified by currency-neutral, double-digit adjusted earnings per share growth, despite previously disclosed challenges in Russia and Saudi Arabia.

"The excellent performance of our flagship smoke-free product IQOS -- not only in Asia, but also in the vast majority of our launch geographies -- underscored its great promise and the commitment of our employees to lead the transformation of our industry towards a smoke-free future. Continued investment behind IQOS in 2018 is expected to further drive its positive momentum."