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Category: Business & Finance

  • Altria to Host Webcast of 2025 First-Quarter Results

    Altria to Host Webcast of 2025 First-Quarter Results

    Altria Group, Inc. will host a live audio webcast April 29, 2025, at 9 a.m. EST to discuss its 2025 first-quarter business results. Altria will issue a press release containing its business results at approximately 7 a.m. the same day. The webcast can be accessed at altria.com.

    During the webcast, Billy Gifford, Altria’s Chief Executive Officer, and Sal Mancuso, Altria’s Chief Financial Officer, will discuss the Company’s 2025 first-quarter business results and answer questions from the investment community and news media.

    The webcast will be in a listen-only mode. Pre-event registration is necessary; directions are posted at www.altria.com/webcasts. An archived copy of the webcast will be available on altria.com.

  • E.P. Carrillo Rebrands to Casa Carrillo

    E.P. Carrillo Rebrands to Casa Carrillo

    In 2009, Ernesto Perez-Carrillo and his family opened the EPC Cigar Co., which was later changed to E.P. Carrillo. The company announced today (April 10) that it will now be called Casa Carrillo, which is also the name of its main factory in Santiago, Dominican Republic.

    The company said this is a rebrand, “a move that unites its U.S. headquarters, factory, and global presence under one name that reflects both its heritage and its vision for the future.”

    The company is a two-time Cigar of the Year winner by Cigar Aficionado that makes brands such as Pledge, Inch, and Encore.

  • U.S. Premium Cigar Imports Top 430M

    U.S. Premium Cigar Imports Top 430M

    The Cigar Association of America (CAA) released its annual report today, indicating that U.S. imports of handmade, premium cigars rose 0.9% last year, going from 426.3 million in 2023 to 430 million in 2024. It appears that the pandemic created a second cigar boom, as imports have exceeded 400 million units for four years in a row, a 27% increase from 2019’s 338 million cigars. The market has cooled slightly, however, from its record years of 2021 and 2022, where imports were 453.9 million and 464.5 million, respectively.

    Nicaragua accounts for 58.8% of U.S. cigars, shipping 253.1 million cigars in 2024, a 2.7% increase over the previous year. The Dominican Republic shipped 106 million cigars, a 1.8% decrease from 2023, followed by Honduras’ 67.4 million cigars, a 3.3% increase. Those three countries account for 99% of the U.S. cigar supply.

    Costa Rica saw a 44.9% jump in the number of cigars it sends to the U.S., and at 2.5 million units is the only other producer to top the 1 million mark.

    The CAA generates this data from the U.S. Census Bureau, the U.S. Customs Services, and from cigar companies themselves. The numbers include estimates that remove large, machine-made cigars from the premium category.

  • Cyprus Cigar Shortage Nearing End

    Cyprus Cigar Shortage Nearing End

    Retailers in Cyprus have been assured that the nation’s cigar shortage, particularly cigarillos, will soon come to an end. Phileleftheros reported that for the last month consumers were finding the most popular brands out of stock, leading them to purchase alternative brands, which led to depleted stocks across the board. Customers even resorted to calling stores in advance to reserve cigars and cigarillos.

    This past year saw limited availability of cigars and cigarillos from Cuba, from which Cyprus imports more than half of its product. Cuban cigars account for €41 million of the €52 million of cigars Cyprus imports. A second factor in the shortage came from changes implemented by the European Union regarding the traceability of tobacco products. Starting in 2020, these changes were applied to cigarettes, and from last year, cigars and cigarillos were also included. According to the new regulations, the packaging of these products must feature a unique marking that must be scanned with every transaction.

    However, both of these issues appear to have been resolved. Phileleftheros learned that large shipments of cigars and cigarillos have already been imported into Cyprus, and these products are expected to be back on the shelves beginning today (April 7).

  • Esse Cigarettes Power KT&G’s Global Push

    Esse Cigarettes Power KT&G’s Global Push

    KT&G’s ultra-slim cigarette brand, Esse, continues to enjoy strong and steady demand in the Middle East and Central Asia — emerging as one of South Korea’s fastest-growing processed food exports in the first quarter of this year, according to the company.

    According to data released by the Ministry of Agriculture, KT&G’s cigarette exports rose 14.5% year-on-year during the January–March period, ranking second in export growth behind ramyeon, which saw a 27.3% increase.

    “In the Gulf Cooperation Council (GCC) region, including the UAE, the Korean Wave has played a major role in boosting interest in slim cigarettes made in Korea,” said an official from the Agriculture Ministry. “At the same time, exports to Commonwealth of Independent States (CIS) countries, such as Russia and Mongolia, have also grown, fueling further momentum.”

    KT&G’s cigarette exports to GCC countries reached $49 million in the first quarter, marking an 83.6 percent year-on-year increase. Exports to CIS nations more than doubled to $29 million over the same period. Among these markets, Mongolia stood out, where KT&G’s localization strategies have helped the company capture a market-leading share of over 50%, the company said.

    Last year, KT&G posted 1.45 trillion won ($986 million) in overseas sales, up 28% from the previous year, driven largely by strong cigarette demand. Its cigarette exports alone reached 58.6 billion won ($39.9 million).

    Indonesia remains KT&G’s largest export destination, while Central Asian countries such as Uzbekistan are rapidly emerging as key growth markets. KT&G sold 270 million cigarettes in Uzbekistan last year, ahead of launching a local office there in January. The company has also secured the top market share in Tajikistan and third place in Kazakhstan.

    To meet growing global demand, KT&G is building new manufacturing facilities in Kazakhstan and Indonesia, set to be completed by 2026.  

  • Tobacco Prices Climb in Spain 

    Tobacco Prices Climb in Spain 

    Several popular cigarette brands in Spain went up in price this weekend following a resolution published in the Boletín Oficial del Estado (BOE), Spain’s official state bulletin.

    The updated price list affects shops across mainland Spain and the Balearic Islands. Brands like Marlboro, Chesterfield, Ducal, and Austin are all included, with prices per pack now starting at €4.60 and going up to over €9, depending on the format and brand.

    The rise comes just weeks after other well-known names such as Fortuna, Nobel, L&M and Winston were hit by similar price hikes. It’s part of an ongoing adjustment that’s slowly nudging Spain’s tobacco prices closer to the European average — although for now, they still remain among the lowest on the continent.

    The pricing update also includes cigars and pipe tobacco, with brands like Zino Nicaragua and specialty pipe blends from Musth, Musthave and Tangiers climbing as well. Some pipe tobacco tins are now priced at nearly €22 for 125 grams, while others like Tangiers can hit €35 for a 250 g pouch.

  • REJO Expanding its HNB to Europe

    REJO Expanding its HNB to Europe

    REJO, a global provider in heat-not-burn solutions, presented a new product, logo, and slogan as it announced its expansion into the European market.

    The company introduced new varieties of its TOZE herbal sticks, inspired by East Asia’s rich tradition of tea-based cigarettes, that combine natural tea fibers, nicotine, and precisely balanced flavors. The sticks are meant to pair with the REJO HS40 heating device.

    “Early market feedback from France, particularly among traditional tobacco retailers, has underscored the growing demand for TOZE products,” the company said in a statement. “Praised for their consistent aroma and reduced smoke odor, TOZE herbal sticks are well-positioned to meet the rising market demand for flavored alternatives.

    “As REJO continues its global expansion, the company remains committed to its mission of redefining the smoking experience through innovation, reliability, and sustainability. With a strong foundation in place and ambitious plans for growth in Europe and beyond, REJO is committed to delivering reliable alternatives that empower consumers to make informed choices about their smoking experience.”

    Headquartered in China, the company says it currently has products available in nearly 10,000 retail outlets across Russia, the Middle East, and Southeast Asia. The company said it will begin its European expansion initially focusing on the Czech Republic and Switzerland. REJO has already secured key EU regulatory approvals, including: Tobacco Products Directive (TPD) registration, Poison Centre Notification (PCN) compliance, and Track-and-Trace registration.

    The company’s new slogan is, “Take a Break. Take REJO.” Its brand redesign features an extended “O” with a petal-like shape and vibrant color palette that, according to the company, “center around a warm, inviting shade of green-symbolizing comfort, relaxation, and a natural connection to the essence of the product.”

  • PMI Outlines Smoke-Free Progress in Annual Report

    PMI Outlines Smoke-Free Progress in Annual Report

    Philip Morris International today (April 3) published its sixth annual Integrated Report, marking the company’s 10th year of business transformation and sustainability disclosures. The document details PMI’s continued progress in delivering long-term value to shareholders and other stakeholders while advancing its purpose of having its smoke-free alternatives make cigarettes obsolete as soon as possible.

    “Our 2024 Integrated Report celebrates a milestone year that marked the 10thanniversary of the commercialization of IQOS, VEEV, and ZYN and our journey toward achieving one of the most ambitious business transformations in modern history,” said Jacek Olczak, Chief Executive Officer of PMI. “By the end of 2024, our efforts to expand access to smoke-free products allowed us to reach an estimated 38.6 million adult users, with the products available in 95 markets, demonstrating our deep commitment to sustainability and business transformation. These achievements fill me with profound optimism as we continue to create long-term value while addressing our product and operational impacts, not only sustaining but accelerating our momentum, accomplishing a number of goals that only a few years ago seemed too ambitious.”

    The report describes the company’s strategy, business model, and both product-related and operational-related performances. The report explains the company’s performance and approach to sustainability in the context of a comprehensive five-pillar framework that includes compliance and risk mitigation as well as operational efficiency, innovation, and purposeful impact

    “The path to transformation is rarely linear, and our experience in 2024 reinforces a crucial truth: Achieving a smoke-free future requires collective effort beyond our direct control,” said Emmanuel Babeau, Chief Financial Officer of PMI. “Our smoke-free business accounted for approximately 39% of PMI’s total net revenues for the full year 2024, with an acceleration in top- and bottom-line growth. Competing in the cigarette market while simultaneously working to transform it is not a contradiction but a necessary phase in our journey. Our integrated approach—linking financial success with positive impact—positions us well to continue investing in the future. We remain confident that our financial strength, combined with our sustainability leadership, is the right path forward.”

    Performance Highlights:

    • Six markets where more than 75% of net revenues are generated are smoke-free
    • $14 billion cumulative investment behind smoke-free products since 2008
    • 99% of total shipment volume covered by youth access prevention programs in indirect retail channels
    • 0.01% prevalence of child labor among contracted farmers supplying tobacco to PMI
    • 10 human rights impact assessments completed since 2018 in highest-risk countries
    • 61% of PMI manufacturing facilities certified as carbon neutral
  • Imperial Vows to Grow Profits 3-5% Over Next Five Years

    Imperial Vows to Grow Profits 3-5% Over Next Five Years

    Today (March 26), Imperial Brands said it will grow annual operating profits by 3-5% and launch a share buyback every year until 2030 as it prepares to set out its growth strategy at a capital markets day.

    The company has enjoyed a rebound in sales and returns after retreating to focus on core markets and its tobacco business following an earlier foray into vapes that saw it lose market share. It outlined a new five-year strategy, signaling a continuation of that focus but also an effort to build scale in smoking alternatives, including its e-cigarette brand blu, nicotine pouch brand Zone and heated tobacco device Pulze.

    Over the years to 2030, that plan would deliver up to 5% operating profit growth a year, led by smoking alternatives, and an annual share buyback, with free cash flows of up to £3 billion ($3.9 billion) per year, it said in a statement.

    “The strategy builds on the firm foundations of our current plan, which has created a better business delivering a stronger, more consistent operational and financial performance, and excellent returns for shareholders,” chief executive Stefan Bomhard said.

  • Rebellion Cigars Going to Germany

    Rebellion Cigars Going to Germany

    U.K.-based Rebellion Cigars announced today (March 19) that it has signed an agreement with Royal Cigar Distribution (RCD) of Münster to bring its cigars to Germany.

    “I met [RCD CEO Alex Wehlage] and his team at Intertabac in 2023. Great people with a great understanding of where the cigar market is going in Europe,” said Shaun Wilkinson, co-founder of Rebellion Cigars. “Rebellion smashes the target market and the feedback from the retailers we approached, has been nothing less than superb.”

    The company said that its Rockstar Range will be available in Germany this month and the Country Range will be offered later this year. Rebellion divides its portfolio into two “ranges,” each containing various blends and typically three vitolas per blend.

    “I’ve smoked my first Rebellion cigar at Intertabac in Dortmund,” said Wehlage. “I enjoyed every minute of the Ace of Spade Robusto. A truly great cigar. I’m impressed. The aroma was wonderfully complex and balanced. The story behind the company is amazing and for me, as a rock and metal music fan I love the idea of the cigar names, and I’m thrilled to share the experience with others in Germany.”