investor-day-2021-notext

Find out more

Presentation highlights

investor-day-2021-notext

find out more

2023 Investor Day

Investor kit

Download All
  • PMI Investor Information April 2025

    .pdf

    28/04/2025

  • Q1 2025 Form 10-Q

    .pdf

    07/05/2025

  • 2024 Annual Report

    .pdf

    27/03/2025

  • 2025 Proxy Statement

    .pdf

    27/03/2025

  • 2024 Integrated Report

    .pdf

    07/04/2025

  • 2022-24 Recast Financial Information

    .pdf

    25/03/2025

Emmanuel Babeau shares his highlights from our Q2 Results

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

Our second quarter results are out.

I am pleased to share we delivered another very

strong performance in the second quarter of 2025,

resulting in an excellent set of H1 results overall.

I have three key messages I would like to convey.

First, our smoke-free portfolio demonstrated

excellent top-line dynamism,

resulting in a record $4 billion in net revenue from

our smoke-free business in Q2. During the quarter,

we saw a step-up in the Q2.

in off-tech growth for all three of our flagship smoke-free brands,

IQOS, ZYN and VEEV.

IQOS growth was broad-based globally

with excellent progress in Europe,

including in Italy.

ZYN saw a significant acceleration in US top-tech growth

as in-store availability improved and outside of the US,

excellent progress also continued.

And finally,

VEEV continued its remarkable trajectory with

shipments more than dabbling year on year.

Second,

we delivered strong margin improvement in Q2 and H1. We delivered

strong margin improvement in both Q2 and H1 across our business.

This reflects the increasing profitability

of our smoke-free categories,

a scale,

operating leverage and efficiency combined.

This was further supported by a robust top and bottom

-line performance from our combustible business,

reflecting its resilient model.

Finally, and importantly,

this excellent result places us well

on track for another year of strong

performance.

Our financial growth model is driving a continuous

improvement in the quality of our business

with smoke-free accretion and combustible resilience,

resulting in considerable bottom-line growth,

leading us to achieve best-in-class financial performance.

This quarter marks five years since I joined PMI,

a company driven not just by business,

but by purpose and a real commitment

to make a difference to public health.

That belief has only grown

stronger and have never been prouder to be part of this journey.

Share price

PM (Common Stock)

Jul 22, 2025 12:16 PM

$16697

166.97 (-4.29%)

Stock, dividends & bonds
James Bushnell_
We are investing behind innovation and delivering sustainable growth from our leading smoke-free products, which are a much better choice than continued smoking. 
James Bushnell, Vice President, Investor Relations & Financial Communications 
  1. investor-relations

    • 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.

    • We are engaged in the manufacture and sale of cigarettes and smoke-free products in more than 180 markets around the world.

      READ MORE

    • We have a leading multicategory smoke-free portfolio with IQOS, ZYN and VEEV.

      READ MORE

    • 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.

      READ MORE

    • 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.

      READ MORE

    • Our progress

      Our approach to sustainability

      Integrated Report 2024

blue block DL

Business Transformation-Linked Financing Framework

Learn more

PMI Investor Relations mobile app

Our Investor Relations mobile application provides users with easier, more dynamic and comprehensive access to the company’s Investor Relations information, such as stock quotes, press releases, SEC filings, investor materials, and live and archived webcast playback of earnings calls and investor presentations.

Receive stock email alerts

Sign up for more information from PMI's Investor Relations team.