Philip Morris International Inc. Hosts 2021 Investor Day
Philip Morris International Inc.’s (NYSE:PM) senior management will present the company’s business strategies and growth outlook today at a virtual investor meeting, broadcast from the company’s Operations Center in Lausanne, Switzerland.
Investor Day Highlights
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- Reaffirms its 2021 full-year reported diluted EPS forecast, provided on February 4th, to be in a range of $5.90 to $6.00, at the then prevailing exchange rates, representing a projected increase of approximately 14% to 16% versus reported diluted EPS of $5.16 in 2020;
- Provides 2021 to 2023 targets, including net revenue and adjusted diluted EPS compound annual organic growth of more than 5% and 9%, respectively, and 2023 heated tobacco unit shipment volume of 140 to 160 billion units;
- Announces the planned launch of IQOS ILUMA, the next generation of its IQOS heat-not-burn product featuring internal heating based on Smartcore induction technology, in the second half of 2021;
- Plans to launch IQOS VEEV, its MESH technology e-vapor product, in over 20 markets this year;
- Expects to commercialize IQOS in a total of 100 markets by the end of 2025, from 64 markets at the end of 2020;
- Increases its 2025 ambition for the contribution of its smoke-free products to total net revenues to more than 50%, compared to a range of 38% to 42%, previously;
- Announces its target of at least $1 billion in net revenues from ‘beyond nicotine’ products in 2025; and
- Believes that with the right regulatory frameworks, dialogue and support from civil society, cigarette sales can end within 10 to 15 years in many countries.
“In just five years, we have thoroughly transformed our company, building IQOS into a top-5 global nicotine brand— with nearly $7 billion in net revenues and over 17 million users across 64 markets—while maintaining our leadership position in the international cigarette category," said André Calantzopoulos, Chief Executive Officer.
“We are now embarking on our next growth phase, further shifting to a better, more sustainable business by driving the development of the smoke-free category and leveraging our leading commercial model, which places the consumer at the core, to switch more adult smokers to our smoke-free products.”
“This next growth phase is underpinned by our unmatched portfolio of innovative products. We are very excited to announce the planned launch of IQOS ILUMA—the next generation of our IQOS heat-not-burn product featuring a new internal heating induction technology—during the second half of this year.”