Philip Morris International Demonstrates Clear Progress Toward Its Purpose as It Releases 2023 Integrated Report

Philip Morris International Inc. (PMI) (NYSE: PM) today releases its fifth annual Integrated Report, which outlines the company’s ongoing work to advance toward its 2025 Roadmap goals, with the primary focus on addressing the health impacts of the company’s products.

The 2023 Integrated Report highlights PMI’s continued expansion of smoke-free alternatives in markets worldwide, as well as social and environmental programs deployed with and in parallel to these products—including the deployment of responsible marketing and sales practices and efforts to reduce post-consumer waste. Further, PMI reports its progress toward fostering an empowered and inclusive workplace, improving the quality of life of people in its supply chain, decarbonizing its operations and value chain, and preserving nature and biodiversity.

“2023 was a year marked by unity, determination, and a continued commitment to our vision of a smoke-free future,” said Jacek Olczak, Chief Executive Officer of PMI. “As we encounter new challenges, our people’s enduring resilience, exceptional talent, and depth of purpose ensure we are well-equipped to continue our journey—pursuing progress, embracing innovation, and fostering sustainability as we transform for good.”

PMI’s approach to sustainability is guided by the outcomes of its 2021 sustainability materiality assessment, which, following the principles of double materiality, identified the topics on which PMI focuses and prioritizes resources. PMI’s sustainability strategy addresses two distinct forms of topics: those related to its products (what the company produces), which are part of the “Product Impact” pillar, and those related to its business operations (how the company produces), which are part of the “Operational Impact” pillar.

Product Impact highlights

Social

• Approximately 33 million estimated users of PMI smoke-free products, including 28.6 million IQOS users (2022: 24.9 million IQOS users)¹
• 36.4% of adjusted net revenues derived from smoke-free products (2022: 32.1%)²
• 84 markets where PMI smoke-free products are available for sale³, of which 47% are in low- and middle-income markets⁴ (2022: 73, 42%)
• 25 markets where smoke-free products represented more than 50% of annual net revenues (2022: 17)
• USD 12.5 billion cumulative investment behind smoke-free products since 2008 (2022: USD 10.7 bn)⁵
• 98% of total shipment volume covered by youth access prevention programs in indirect retail channels (2022: 91%)⁶

Environmental