The company reported that its net revenue of USD 7.7 billion decreased 0.3 per cent in comparison to its second quarter results of 2018. PMI said that its second quarter operating income of USD 3.19 billion, an increase of 3 per cent from USD 3.09 billion in the second quarter of 2018. Adjusted operating income rose 9.1 per cent to USD 3.21 billion the second quarter of 2019, according to PMI’s results. Total shipment volume decreased by 1.4 per cent and cigarette shipments by 3.6 per cent.
Andre Calantzopoulos, chief executive officer of PMI, commented on the results, saying, “Of particular note is our combined cigarette and heated tobacco unit shipment volume, which — for the first six months of the year — was up by 0.1 per cent on a like-for-like basis. This positive performance was led by robust in-market heated tobacco unit year-to-date sales growth of 34.0 per cent, making HEETS/HeatSticks, combined, a top-ten international tobacco brand, despite only being present in approximately one quarter of our markets. In the markets where they are sold, our heated tobacco brands held a sizable combined share of 5.0 per cent year-to-date, driving a total international share of 2.1 per cent, up by 0.6 points.”

The company reported that its net revenue of USD 7.7 billion decreased 0.3 per cent in comparison to its second quarter results of 2018. PMI said that its second quarter operating income of USD 3.19 billion, an increase of 3 per cent from USD 3.09 billion in the second quarter of 2018. Adjusted operating income rose 9.1 per cent to USD 3.21 billion the second quarter of 2019, according to PMI’s results. Total shipment volume decreased by 1.4 per cent and cigarette shipments by 3.6 per cent.
Andre Calantzopoulos, chief executive officer of PMI, commented on the results, saying, “Of particular note is our combined cigarette and heated tobacco unit shipment volume, which — for the first six months of the year — was up by 0.1 per cent on a like-for-like basis. This positive performance was led by robust in-market heated tobacco unit year-to-date sales growth of 34.0 per cent, making HEETS/HeatSticks, combined, a top-ten international tobacco brand, despite only being present in approximately one quarter of our markets. In the markets where they are sold, our heated tobacco brands held a sizable combined share of 5.0 per cent year-to-date, driving a total international share of 2.1 per cent, up by 0.6 points.”