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Tag: Veev

  • PMI Reports Strong Q3 Based on Smoke-Free Surge

    PMI Reports Strong Q3 Based on Smoke-Free Surge

    Today (October 21), Philip Morris International reported strong third-quarter 2025 results, with adjusted diluted earnings per share rising 17.3% to $2.24, while reported EPS increased 13.2% to $2.23. The company said it achieved record smoke-free gross profit, supported by higher volumes and favorable pricing. Net revenues grew 5.9% on an organic basis, and adjusted operating income rose 7.5%, driven by strong performance in smoke-free products, despite a 3.2% decline in cigarette volumes.

    PMI’s smoke-free portfolio continued to expand rapidly, now accounting for 41% of total net revenues and 42% of gross profit. Volumes of smoke-free products rose 16.6%, led by the IQOS heated tobacco line and ZYN nicotine pouches. IQOS strengthened its market share across Europe and Asia, while ZYN’s U.S. offtake surged 39% following its return to full availability. The e-vapor brand VEEV also posted a 91% jump in shipments, solidifying PMI’s diversified presence across smoke-free categories.

    Reflecting this momentum, PMI raised its full-year adjusted EPS guidance and boosted its quarterly dividend by 8.9% to $1.47 per share. CEO Jacek Olczak said the company’s smoke-free business “continues to outgrow the industry by a clear margin,” adding that PMI is “on track to exceed” its 2024–2026 growth targets. Despite regulatory challenges in some markets, the company remains focused on transitioning adult smokers toward smoke-free alternatives and expanding its portfolio in 100 markets worldwide.

  • PMI Launches VEEV in South Africa, Expands Smoke-Free Portfolio

    PMI Launches VEEV in South Africa, Expands Smoke-Free Portfolio

    Philip Morris South Africa (PMSA) launched its VEEV e-cigarette this week, completing the company’s trio of smoke-free products in the country alongside IQOS heated tobacco and ZYN nicotine pouches, according to BizCommunity. This makes South Africa one of just 20 countries globally offering all three categories, underscoring PMSA’s commitment to providing adult smokers with scientifically backed alternatives to combustible cigarettes.

    Jonathan Kwak, Director of Smoke-Free Products at PMSA, said the launch gives “adult smokers more options than before when considering scientifically substantiated alternatives to smoking” and is a critical step toward eliminating cigarette use. PMI says it has invested over $14 billion globally since 2008 in research and development of smoke-free products, which are now available in 97 markets and used by more than 41 million adult consumers worldwide.

    While emphasizing that quitting all tobacco and nicotine remains the best choice, Kwak said that switching entirely to smoke-free products can significantly reduce exposure to harmful chemicals produced by burning tobacco. “With our expanding offering, we aim to accelerate South Africa’s transition to a smoke-free future, aligning with harm-reduction principles already embraced in other public-health fields,” he said.

  • Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Reports Record Q2 Earnings

    Philip Morris International Inc. reported record second-quarter results today (July 22) driven by strong growth in its smoke-free portfolio and resilient performance in combustibles. Net revenues reached an all-time high, with smoke-free products—including IQOS, ZYN, and VEEV—accounting for 41% of total sales. Shipments of smoke-free products rose 11.8%, while gross profit from the category jumped over 23%.

    CEO Jacek Olczak highlighted a “reacceleration” in IQOS and ZYN sales, especially in Europe, Japan, and the U.S., where ZYN’s offtake rose 36% in June. PMI’s e-vapor brand VEEV more than doubled shipment volumes, now leading in several European markets.

    Combustible products like Marlboro remained stable, contributing to a 2.1% revenue increase despite expected volume declines. PMI also declared a quarterly dividend of $1.35 per share. Buoyed by strong year-to-date performance, the company raised its full-year earnings guidance.

    Click here for the full financial report.

  • PMI Execs Talk Financials

    PMI Execs Talk Financials

    Today (June 3), Philip Morris International presented at the 2025 dbAccess Global Consumer Conference, showcasing its strategic focus on smoke-free products amid a backdrop of both opportunities and challenges. The company reported strong growth in its smoke-free portfolio, while also managing a resilient combustible business through strategic price adjustments and cost management.

    PMI reported organic revenue growth between 6% and 8% and organic operating income growth of 10.5% to 12.5%. The company said it remains on course to have two-thirds of its revenue come from smoke-free products by 2030.

    PMI said its smoke-free product volume increased by more than 14%, and revenue from smoke-free products grew by over 20% organically. This category was led by its Zyn nicotine pouches, which saw over 50% growth in the U.S. during Q1 2025, and has plans for further expansion in Europe and other markets.

    IQOS experienced nearly 10% growth in Japan and over 7% in Europe despite regulatory challenges, with Veev holding the top position in five EU markets, focusing on profitable growth.

    Emmanuel Babeau, CFO of PMI, said the company plans to expand IQOS in the U.S. and enter new markets such as Turkey, Brazil, and India, and expects to reach a net debt to EBITDA ratio of 2x by the end of 2026.

  • PMI Hosts Shareholders Meeting

    PMI Hosts Shareholders Meeting

    Philip Morris International Inc. held its 2025 Annual Meeting of Shareholders today (May 7), with board chairman André Calantzopoulos and CEO Jacek Olczak answering questions and presenting the company’s performance.

    “Our smoke-free transformation continues to advance rapidly,” Olczak said. “We marked the 10-year anniversaries for both IQOS and ZYN in 2024 while achieving several key milestones, including our smoke-free business reaching almost $15 billion in net revenues.

    “We are increasingly deploying a multicategory strategy with our leading brands IQOS, ZYN, and VEEV, supporting our position as the global smoke-free champion as we continue to deliver meaningful value for our shareholders.”

    Shareholders elected 11 nominees for director; approved, on an advisory basis, the compensation of named executive officers; and ratified the selection of PricewaterhouseCoopers SA as independent auditors. Final voting results will be included in a Form 8-K that PMI will file with the SEC in the coming days.

    An archived copy of the webcast is available at  www.virtualshareholdermeeting.com/PM2025.

  • PMI Halts Cash-for-Vapes Program

    PMI Halts Cash-for-Vapes Program

    Photo: PMI

    Philip Morris International has paused a program that would have paid Australian pharmacists AUD275 ($190.24) when ordering Veev vapes, according to The Guardian.

    The scheme, first reported by News Corp., would have seen pharmacists receive AUD5 every time they dispense a new VEEV script, AUD10 for educating a new patient about the device, and AUD5 for referring patients to a doctor to obtain a prescription. Pharmacists would also receive a AUD275 payment for placing an initial stock order.

    Nicotine-containing vapor products are available only with a doctor’s prescription in Australia.

    The cash-for-vapes program caused an uproar among public health advocates.

    Emily Banks, a professor at Australian National University National Centre for Epidemiology and Population Health, said the tobacco industry wanted to piggyback off the trust Australians place in the healthcare system.

    “Big tobacco wants a piece of that—they want some of the trust to rub off. It’s beyond appalling.”

    “Big tobacco’s attempt at financial kickbacks shows absolute contempt for pharmacists,” said a spokesman for the Pharmaceutical Society of Australia. “Multinational tobacco companies have no place in health care.”

    In a statement, PMI defended the program, saying since 2021 nicotine vaping products had been available in Australian pharmacies as a prescription-only medicine for smoking cessation.

    “Several manufacturers, including PMI, have been providing nicotine vaping products to Australian pharmacies via the stringent regulatory regime. Industry data indicates that across multiple manufacturers products are now available in over 2,000 pharmacies nationwide,” the statement said.