Philip Morris International Inc. (PMI) Reports 2012 Results; Provides 2013 Earnings Per Share Forecast

2012 Fourth-Quarter

Net revenues of $7.9 billion were up by 2.8%, including unfavorable currency of $270 million. Excluding currency and acquisitions, net revenues increased by 6.4%, driven by favorable pricing across all Regions of $422 million, and favorable volume/mix of $66 million driven by EEMA and Asia, partly offset by the EU.

OPERATING COMPANIES INCOME
PMI Reported Operating Companies Income ($ Millions)
				Fourth-Quarter												Full-Year
													Excl.												Excl.
				2012			2011			Change			Curr.			2012			2011			Change			Curr.
European Union				$955			$1,012			(5.6)%			2.1%			$4,187			$4,560			(8.2)%			0.2%
Eastern Europe, Middle East & Africa				921			747			23.3%			25.4%			3,726			3,229			15.4%			21.6%
Asia				1,129			1,036			9.0%			9.7%			5,197			4,836			7.5%			6.7%
Latin America & Canada				290			214			35.5%			37.4%			1,043			988			5.6%			11.9%
Total PMI				$3,295			$3,009			9.5%			13.0%			$14,153			$13,613			4.0%			8.4%

2012 Full-Year

Reported operating companies income was up by 4.0% to $14.2 billion, including unfavorable currency of $607 million. Excluding currency and acquisitions, operating companies income was up by 8.4%, driven by higher pricing, partly offset by unfavorable volume/mix of $233 million, higher manufacturing costs, and increased marketing, sales and distribution investments notably in Germany, Indonesia and Russia. Adjusted operating companies income increased by 3.7% as shown in the table below and detailed on Schedule 15. Adjusted operating companies income, excluding currency and acquisitions, increased by 8.1%. Adjusted operating companies income margin, excluding the impact of currency and acquisitions, was up by 1.1 percentage points to 45.2%, as detailed on Schedule 15.

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