A FUTURE WITHOUT CIGARETTES IS POSSIBLE
AND WE’RE DOING OUR PART TO GET THERE AS SOON AS POSSIBLE.

Led by science and innovation, Philip Morris International has disrupted its business and industry with the goal of completely ending the sale of cigarettes.

We are delivering smoke-free products that are a better choice for adults than continued smoking. Our ambition is to become substantially smoke-free by 2030, with our smoke-free business generating over two-thirds of total net revenues.

Our progress toward a smoke-free future as of 2025 Q1

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_1

    42 percent

    of PMI’s total net revenues came from our smoke-free business.

  • C24002_Spotlight_icons_150x150_PMI_process-page_icon_150x150_2 1

    38.6 million

    estimated total adult users of PMI’s smoke-free products¹.

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_4

    95 markets

    where our smoke-free products are available, providing better alternatives for legal-age smokers.

  • C24002_Spotlight_icons_150x150_PMI_process-;age_icon_150x150_5

    USD >14 billion

    invested to develop, scientifically substantiate, and commercialize smoke-free products since 2008¹.

 1 As of December 31, 2024. Important Note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated April 23, 2025, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations pages.  “PMI,” “We,” “Our,” & “Us” refers to the entire Philip Morris International family of companies.​


Emmanuel Babeau’s highlights from our Q1 2025 results

Emmanuel Babeau, Chief Financial Officer for Philip Morris International, speaks to camera:

Our first quarter results are out.

In Q1, we delivered a very strong start to the year

supported by three powerful growth drivers,

namely pricing power,

positive smoke-free category mix

and volume growth.

Overall, the strong and increasingly profitable underlying growth

of our smoke-free business was coupled with

very solid combustible results.

Turning to the numbers, we delivered double digit

organic net revenue growth of plus 10.2%,

reaching $9.3 billion in total.

Our smoke free business performed exceptionally well

across all areas, with excellent organic revenue

and gross profit growth from all three smoke-free categories.

With a presence in 95 markets,

our smoke-free products now account for

42% of our total net revenue,

and 44% of our total gross profit,

as we continue to deploy our multi-category strategy

across markets and broaden our growth opportunities.

IQOS continues to strengthen its overall position

as the second largest nicotine brand in markets where present,

driving the growth of the heat-not-burn category.

This is supported by commercial initiatives around brand building

and continuous innovation on device and consumable,

as we progressively roll out Iluma i

a new consumable variants of Terea, Levia and Delia.

ZYN, once again, delivered strong growth in the U.S.

with shipments increasing by an impressive plus 53%

to reach 200 million cans, exceeding our initial expectation.

as demand remained strong

and production capacity increased ahead of schedule,

supported by the outstanding effort of our team on the ground.

In e-vapor, VEEV Q1 performance was impressive,

with shipments more than doubling year on year,

demonstrating its increasing contribution

within our multi-category offering.

Within combustible,

overall volume growth, coupled with strong pricing

and ongoing cost initiatives drove a robust performance.

In summary, following an excellent start to the year,

we are on track for another year

of strong performance in 2025.

While no company is immune to macroeconomic volatility,

we believe we are well-positioned to navigate external dynamics

and we look to the year ahead with continued excitement and enthusiasm.

 

*Smoke-free business net revenues as of Q3 2014. ** Smoke-free business net revenues as of Q1 2025. Important note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated April 23, 2025, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations pages. “PMI,” “We,” “Our,” & “Us” refers to the entire Philip Morris International family of companies.