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TheStreet Open House

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

Stocks in this article: PMPMI

Excluding acquisitions, total shipment volume for cigarettes and OTP combined was up by 1.5%. Excluding acquisitions and the Japan hurdle, total shipment volume for cigarettes and OTP combined was up by 2.2%. OTP, which is primarily sold within the EU Region, is not significant to PMI’s net revenues.

PMI’s market share in its top 30 OCI markets was 37.4%, up by 0.6 points. PMI’s market share grew in a number of markets, notably Algeria, Argentina, Australia, Belgium, Brazil, Colombia, Egypt, Greece, Indonesia, Mexico, Poland, Russia, Thailand, Turkey and Ukraine.

2012 Fourth-Quarter

PMI’s cigarette shipment volume was up by 2.9%, excluding acquisitions.

In the EU, PMI’s total cigarette shipment volume decreased by 5.7%, predominantly due to France and southern Europe. In EEMA, PMI’s total cigarette shipment volume grew by 7.1%, driven mainly by Egypt and Turkey. In Asia, PMI’s total cigarette shipment volume increased by 5.7%, driven mainly by Indonesia and the Philippines. In Latin America & Canada, PMI’s total cigarette shipment volume decreased by 1.1%, mainly due to Mexico, partly offset by Brazil reflecting market share gains.

Total cigarette shipment volume of Marlboro of 75.4 billion units was up by 1.2%, reflecting growth in EEMA of 3.2%, notably in North Africa and Turkey, partly offset by Romania, Russia and the Middle East, and Asia of 5.6%, principally driven by Indonesia, the Philippines and Vietnam, partly offset by Japan and Korea. Cigarette shipment volume of Marlboro declined in the EU by 3.2%, notably in France, partly offset by Germany and Italy, and in Latin America & Canada by 1.0%, mainly in Argentina and Mexico, partly offset by Brazil.

Total cigarette shipment volume of L&M of 24.1 billion units was up by 9.7%, reflecting growth in: EEMA of 20.1%, notably in Egypt, Russia and Turkey; Asia of 12.4%, mainly in Thailand; and Latin America & Canada of 5.0%, mainly in Brazil and Colombia. Cigarette shipment volume of L&M declined in the EU by 3.4%, notably in Greece, Poland and Spain, partly offset by growth in France.

Total cigarette shipment volume of Bond Street of 11.3 billion units increased by 2.2%, led mainly by growth in Kazakhstan and Ukraine, partly offset by a decline in Hungary.

Total cigarette shipment volume of Parliament of 11.3 billion units was up by 12.4%, fueled by strong growth in EEMA of 22.4%, driven by Kazakhstan, Russia, Turkey and Ukraine. Cigarette shipment volume of Parliament declined in Asia by 10.2%, notably in Japan and Korea.

Total cigarette shipment volume of Philip Morris of 9.5 billion units decreased by 2.0%, mainly reflecting a decline in Japan, the Philippines and Spain, partly offset by growth in Argentina and Portugal.

Total cigarette shipment volume of Chesterfield of 8.4 billion units was down by 5.9%, due mainly to Ukraine, partly offset by growth in the EU, notably in the Czech Republic, Germany and the United Kingdom.

Total cigarette shipment volume of Lark of 7.9 billion units increased by 7.8%, notably in Turkey, partly offset by Japan and Korea.

Excluding acquisitions, total shipment volume of OTP, in cigarette equivalent units, grew by 2.7%, notably in Spain, partly offset by Poland.

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