About Philip Morris International

Philip Morris International Inc. is a leading international tobacco company. The company is actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s product portfolio primarily consists of cigarettes and smoke-free products, which include heat-not-burn, vapor, and oral nicotine products. The company develops, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. The company owns Swedish Match AB (Swedish Match) – a leader in oral nicotine delivery – creating a global smoke-free combination led by the companies’ IQOS and ZYN brands. The U.S. Food and Drug Administration (the FDA) has authorized versions of the company’s IQOS Platform 1 devices and consumables, and Swedish Match's General snus, as Modified Risk Tobacco Products (MRTPs). In 2008, the company became a U.S. public company listed on the New York Stock Exchange and subject to the rules of the U.S. Securities and Exchange Commission (the SEC). Through its acquisition of Swedish Match, the company acquired a market leader in oral nicotine delivery with a significant presence in the United States market. The Swedish Match acquisition was a key milestone in PMI’s transformation to becoming a smoke-free company. In 2022, the company also completed an agreement with Altria Group, Inc. to end its commercial relationship in the U.S. covering IQOS as of April 30, 2024. Thereafter, PMI will have the full rights to commercialize IQOS in the U.S. Smoke-free products (SFPs) is the term the company primarily uses to refer to all of its products that are not combustible tobacco products, such as heat-not-burn, e-vapor, and oral nicotine. In addition, SFPs include wellness and healthcare products, as well as consumer accessories, such as lighters and matches. Reduced-risk products (RRPs) is the term the company uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continuing to smoke. The company has a range of RRPs in various stages of development, scientific assessment and commercialization. The company’s RRPs are smoke-free products that contain and/or generate far lower quantities of harmful and potentially harmful constituents than found in cigarette smoke. The company’s RRPs and commercial activities for these products are designed for, and directed toward, current adult smokers and users of nicotine-containing products. The company’s IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. The company’s leading smoke-free platform (Platform 1) uses a precisely controlled heating device into which a specially designed and proprietary tobacco unit is inserted and heated to generate an aerosol. Heated tobacco units (HTU) is the term the company uses to refer to heated tobacco consumables, which include its BLENDS, DELIA, HEETS, HEETS Creations, HEETS Dimensions (defined collectively as HEETS), Marlboro HeatSticks, SENTIA, TEREA, TEREA CRAFTED, and TEREA Dimensions, as well as the KT&G-licensed brands, Fiit and Miix (outside of South Korea). HTU's also include zero tobacco heat-not-burn consumables (LEVIA). Platform 1 was first introduced in Nagoya, Japan, in 2014. As of December 31, 2023, the company’s smoke-free products were available for sale in 84 markets. At the time of its acquisition of Swedish Match, it already had a leading nicotine pouch franchise in the U.S. under the ZYN brand name. The Swedish Match product portfolio is complementary to its existing smoke-free portfolio, permitting it to bring together a leading oral nicotine product with the leading heat-not-burn product. The company’s cigarettes are sold in approximately 175 markets, and in many of these markets they hold the number one or number two market share position. The company has a wide range of premium brands. The company’s portfolio comprises both international and local brands and is led by Marlboro, the world’s best-selling international cigarette, which accounted for approximately 39% of its total 2023 cigarette shipment volume. The company’s other leading international cigarette brands are Chesterfield, L&M, and Philip Morris. These five international cigarette brands contributed approximately 79% of the company’s cigarette shipment volume in 2023. The company also owns a number of important local cigarette brands, such as Dji Sam Soe and Sampoerna A in Indonesia, and Fortune and Jackpot in the Philippines. Segments In January 2023, the comopany began managing its business in four geographical segments, in addition to its continuing Swedish Match and Wellness and Healthcare segments: As of December 31, 2023, the company’s operating segments were as follows: Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region ("SSEA, CIS & MEA"); East Asia, Australia, and PMI Duty Free Region ("EA, AU & PMI DF"); Americas Region; Swedish Match, which reflects its fourth quarter 2022 acquisition of the company; and Wellness and Healthcare (W&H), which includes the operating results of its Vectura Fertin Pharma business. The company has a market share of at least 15% in approximately 100 markets, including Algeria, Argentina, Australia, Austria, Belgium, Brazil, the Czech Republic, Egypt, France, Germany, Greece, Hong Kong, Hungary, Indonesia, Israel, Italy, Japan, Kazakhstan, Kuwait, Mexico, the Netherlands, the Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, the Slovak Republic, South Korea, Spain, Switzerland, Turkey and Ukraine. Distribution and Sales The company’s main types of distribution and sales are tailored to the characteristics of each market and are often used simultaneously: Direct sales and distribution, where the company sells directly to the retailers; Distribution through independent distributors that often distribute other fast-moving consumer goods and are responsible for distribution in a particular market; Exclusive zonified distribution, where the dedicated multicategory product distributors are assigned to exclusive territories within a market; Distribution through national or regional wholesalers that then supply the retail trade; Own e-commerce infrastructure for product sales to trade partners and to consumers; and Own brand retail infrastructure for the company’s RRPs and accessories for sales to consumers. Competition Competitors in the company’s industry include British American Tobacco plc, Japan Tobacco Inc., Imperial Brands plc, new market entrants, particularly with respect to innovative products, several regional and local tobacco companies and, in some instances, state-owned tobacco enterprises, principally in Algeria, Egypt, China, Taiwan, Thailand and Vietnam. Intellectual Property The company owns the trademark rights to all of its principal brands, including Marlboro, HEETS, IQOS, IQOS ILUMA, TEREA, and ZYN, or have the right to use them in all countries in which these brands are advertised or sold. History Philip Morris International Inc., a Virginia holding company, was incorporated in 1987.

Country
Industry:
Cigarettes
Founded:
1987
IPO Date:
03/17/2008
ISIN Number:
I_US7181721090
Address:
677 Washington Boulevard, Suite 1100, Stamford, Connecticut, 06901, United States
Phone Number
203 905 2410

Key Executives

CEO:
Olczak, Jacek
CFO
Babeau, Emmanuel
COO:
Coutts, Scott