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About the company<\/h2>\n
Philip Morris International, headquartered in New York, is one of the leading global tobacco companies, known for its premium portfolio of products.The company boasts five of the top 15 cigarette brands globally, including the #1 brand, Marlboro. Established in 1847, the company’s influence spans 180 countries worldwide, constantly innovating and expanding to meet the diverse preferences of adult consumers.<\/p>\n
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Towards a smoke-free future<\/h2>\n
Under the strategic leadership of CEO Jacek Olczak, Philip Morris is currently transitioning towards a smoke-free future, prioritizing the development and distribution of reduced-risk products (RRPs) like their IQOS heated tobacco system.This venture marks a significant milestone in PMI’s ambitious strategy to derive more than 50% of its total revenues from smoke-free products by 2025.Those reduced-risk products currently represent about 35% of PM’s sales. To further this goal, PMI has expanded its footprint by acquiring several pioneering pharmaceutical companies, augmenting its ability to advance toward a smoke-free future.<\/p>\n
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Recent Financial Performance<\/h2>\n
Despite the challenging market conditions, Philip Morris has recently demonstrated a resilient financial performance. Their Q1 2023 results exceeded expectations, reporting USD 1.38 EPS on an USD 8 billion net revenue base, showing a 3.5% revenue increase and 3.2% organic growth. Looking ahead to 2023, the company maintains a positive outlook, anticipating 7% to 8.5% in organic net revenue growth and 7% to 9% in currency-neutral adjusted EPS growth.<\/p>\n
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Share Price Performance<\/h2>\n
The company has experienced a diverse range of performance since its public debut in 2008. A notable downturn occurred in April 2018, with the stock plunging 16% due to slowed growth in its IQOS product in Japan, leading to industry-wide concerns. The year 2018 ended with PMI’s stock down by 36.8%, further impacted by a downgrade from Credit Suisse and Altria’s significant investment in e-cigarette company JUUL Labs. However, PMI rebounded in 2019, seeing a 29.7% rise by February. The stock reached its all-time high of USD 104.66 in February 2022 and closed at USD 91.78 on June 08, 2023.<\/p>\n