Excluding the impact of currency and acquisitions, adjusted operating companies income margin was up by 3.8 percentage points to 45.3%, as detailed on Schedule 11, or by 3.0 points to 45.1% June year-to-date, as detailed on Schedule 15.PMI’s cigarette shipment volume in EEMA increased by 5.1%, predominantly due to a higher total market and share in Turkey and a higher share in Russia, partly offset by a lower total market in Egypt reflecting the high incidence of illicit trade. PMI’s cigarette shipment volume of premium brands grew by 7.4% in EEMA, driven by Marlboro, up by 5.0%, mainly reflecting growth in North Africa, Saudi Arabia and Serbia, and Parliament, up by 16.3%, reflecting growth in Kazakhstan, Russia, Turkey and Ukraine. EEMA Key Market Commentaries In Russia, PMI’s shipment volume increased by 8.7%. Shipment volume of PMI’s premium portfolio was up by 12.5%, driven primarily by Parliament, up by 15.5%, and Marlboro, up by 6.1%. In the mid-price segment, shipment volume was up by 7.9%, mainly due to Chesterfield, up by 1.3%, and L&M, up by 27.1%, the third consecutive quarter of growth. In the low-price segment, shipment volume was up by 7.7%, driven by Apollo Soyuz, Bond Street, Next and Optima, up by 11.9%, 2.8%, 23.2%, and 5.0%, respectively. PMI’s May quarter-to-date market share of 26.1%, as measured by Nielsen, was up by 0.7 points. Market share of Parliament was up by 0.2 points to 3.1%; Marlboro was down by 0.2 points to 1.9%; L&M was up slightly by 0.1 point to 2.5% and Chesterfield was flat at 3.4%; Bond Street was up by 0.3 points to 6.3%; Next was up by 0.4 points to 2.9%; and Apollo Soyuz and Optima were essentially flat at 1.4% and 3.2%, respectively. In Turkey, the total cigarette market increased by an estimated 5.5% to 25.5 billion units, reflecting recovery after the October 2011 excise tax-driven price increase and a decline in the incidence of illicit trade. PMI’s shipment volume increased by 8.9% across all price segments, notably premium shipment volume, up by 8.5%. PMI’s May quarter-to-date market share, as measured by Nielsen, grew by 0.7 points to 45.3%, driven by premium Parliament, mid-price Muratti and low-price Lark, up by 0.8, 0.4 and 0.3 share points to 8.7%, 6.5% and 12.2%, respectively, partly offset by a decline in low-price L&M, down by 0.2 points to 8.6%. Market share of Marlboro was down slightly by 0.1 point to 9.0%. In Ukraine, the total cigarette market declined by 3.0% to 23.1 billion units. June year-to-date, the total cigarette market was up by 0.6%. Whilst PMI’s shipment volume decreased by 2.1%, May quarter-to-date market share, as measured by Nielsen, was up by 0.2 points to 32.1%. Share for premium Parliament was up by 0.5 points to 3.2%. Share of Marlboro was flat at 5.8%, Chesterfield was up slightly by 0.1 point to 7.4% and Bond Street was up by 1.4 points to 8.1%. ASIA REGION In Asia, net revenues decreased by 2.8% to $2.9 billion, including unfavorable currency of $29 million. Excluding the impact of currency, net revenues decreased by 1.8%, reflecting an unfavorable volume/mix of $152 million, primarily due to the Japan hurdle, partially offset by the favorable impact of pricing of $100 million, principally in Australia, Indonesia, Korea and the Philippines. June year-to-date, net revenues, excluding currency and acquisitions, were up by 6.2%, driven by higher pricing and favorable volume/mix of $244 million and $83 million, respectively.