Looking to invest in a smoke-free future? Here you’ll find the latest public disclosures and other investor information for Philip Morris International.
PMI: Delivering a smoke-free future
2024 Annual Report
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Investor Information April 2025
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Presentation highlights
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2023 Investor Day
Investor kit
Emmanuel Babeau shares his highlights from our Q1 Results
We delivered an outstanding performance in 2024 across our business.
As the rapid progress of IQOS and US ZYN was complemented by emerging growth
contribution from VEEV and ZYN internationally and a much improved combustible performance.
Our business outperformed the industry and consumer packaged goods overall,
with volume growth across all categories to deliver fourth consecutive year of positive volume.
This contributed to our delivery of best in class, organic, top and bottom line growth, alongside excellent operating cash flow.
Our smoke-free business is large, profitable and growing fast.
Our total smoke-free net revenue reached almost $15 billion in 2024
Smoke-free product reach 40% of total PMI net revenue in the fourth quarter.
We have deployed our smoke-free multi category strategy across
almost half of the 95 markets with smoke-free product and we close 2024
with over 38.5 million estimated adult users across heat-not-burn, oral and e-vapor.
Our transformation journey and growth drivers have excellent momentum,
and we are confident in our ability to deliver sustainable growth and returns in 25 and beyond.
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investor-relations
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Philip Morris International is leading a transformation in the tobacco industry to create a smoke-free future, and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, as well as to society, the company, and its shareholders. PMI is building its future on a new category of smoke-free products that, while not risk-free, are a much better choice than continuing to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities and scientific substantiation, PMI aims to ensure that its products meet adult consumer preferences and rigorous regulatory requirements.
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We are engaged in the manufacture and sale of cigarettes and smoke-free products in more than 180 markets around the world.
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Our leading smoke-free product, IQOS, is typically marketed with consumables under the brand names TEREA, HEETS, and others.
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Our brand portfolio is led by Marlboro, the world’s best-selling international cigarette. Based on the strength of our brand portfolio, we enjoy robust pricing power.
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One of our key strategic priorities is to develop, assess, and commercialize a portfolio of innovative tobacco and other nicotine-containing products. We draw on the expertise of a team of world-class scientists from a broad spectrum of disciplines to help us reach our ultimate goal of replacing cigarettes with less harmful alternatives.
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Business Transformation-Linked Financing Framework
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