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Philip Morris International Inc. (PMI) Reports 2013 Third-Quarter Results; Revises 2013 Full-Year Reported Diluted EPS Forecast To A Range Of $5.35 To $5.40

Operating companies income of $1.2 billion increased by 11.2%, including favorable currency of $63 million. Excluding currency, operating companies income increased by 5.4%, mainly driven by favorable pricing, partly offset by unfavorable volume/mix of $68 million.

Adjusted operating companies income increased by 11.2%, as shown in the table below and detailed on Schedule 11. Adjusted operating companies income, excluding favorable currency, increased by 5.4%.

 

EU Operating Companies Income ($ Millions)

             

Third-Quarter

Nine Months Year-to-Date

2013

2012

Change

2013

2012

Change

Reported OCI $ 1,207 $ 1,085 11.2 % $ 3,227 $ 3,232 (0.2 )%
Asset impairment & exit costs                
Adjusted OCI $ 1,207 $ 1,085 11.2 % $ 3,227 $ 3,232 (0.2 )%
Adjusted OCI Margin* 52.9 % 51.1 % 1.8 p.p. 50.0 % 50.0 % p.p.

*Margins are calculated as adjusted OCI, divided by net revenues, excluding excise taxes.

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