Philip Morris Int. Sees 7.3% Revenue Increase

By Tamara Parker • Tuesday, March 25 15:18 • Permanent Link

Philip Morris International Inc. (PMI) has released its recast unaudited financial information for 2024 compared to 2023, showcasing changes in various key financial metrics.

In terms of net revenues by product category, the recast figures show that for the full year ended December 31, 2024, the net revenues from combustible tobacco products increased by 4.0% compared to 2023, reaching $8.599 billion. In the smoke-free category, net revenues increased by 14.2% over the same period, amounting to $7.091 billion. The total net revenues for PMI in 2024 amounted to $15.690 billion, representing a 7.3% increase over 2023.

When adjusted for the impact of currency and acquisitions, the net revenues excluding currency and acquisitions for combustible tobacco products increased by 6.2% in 2024 compared to 2023, totaling $8.535 billion. For smoke-free products, the adjusted net revenues excluding currency and acquisitions increased by 16.7% in 2024, reaching $7.036 billion. The adjusted net revenues for PMI in 2024 amounted to $15.571 billion, representing a 7.3% increase over 2023.

These figures indicate a significant positive trend in PMI’s net revenues from both combustible tobacco and smoke-free products, showcasing strong performance in the company’s core product categories.

Additionally, the recast financial information provides a detailed breakdown by region, including Europe, SSEA, CIS & MEA, EA, AU & PMI GTR, and the Americas, demonstrating how net revenues have evolved across different geographical segments.

As a result of these announcements, the company's shares have moved 0.2% on the market, and are now trading at a price of $151.84. For more information, read the company's full 8-K submission here.

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