Philip Morris International Inc · NYSE:PM
Philip Morris International — Philip Morris ČR a.s. — Shareholder Meeting (May 2025)
30 slides from Philip Morris International's shareholder meeting presentation, May 30, 2025
Slide 1: Annual General Meeting of Shareholders
Prague, May 30th, 2025 Annual General Meeting of Shareholders Philip Morris ČR a.s. Fabio Costa Chairman of the Board of Directors
Slide 2: Business Performance, Sustainability Highlights, Consolidated Financial Results
01 Business Performance 02 Sustainability Highlights 03 Consolidated Financial Results
Slide 3: Strong profitability despite headwinds
Strong profitability despite headwinds • Consolidated revenues up by 5.0% (3.0% excl. currency) to CZK 21.6 billion • Profit from operations up by 3.4% (-0.5% excl. currency) to CZK 4.0 billion • Consolidated net income remained stable at CZK 3.3 billion • Production volume in Kutná Hora plant conti
Slide 4: Business Performance
01 Business Performance 02 Sustainability Highlights 03 Consolidated Financial Results
Slide 5: Market Share
Market Share 2024 25.2% 14.4% Cigarettes Heat-not-Burn Consumables 39.6% 2023 25.5% 14.1% Heat-not-Burn Consumables Cigarettes 39.6% 2024 36.0% 16.6% Heat-not-Burn Consumables Cigarettes 52.6% 2023 37.9% 15.5% Heat-not-Burn Consumables Cigarettes 53.4% Source: Philip Morris ČR a.s. and Philip Morris
Slide 6: Shipments (billion units)
Shipments (billion units) 2024 3.8bn 2.3bn Smoke-free Products Cigarettes 6.1bn 2023 4.0bn 2.3bn Smoke-free Products Cigarettes 6.3bn 2024 2.5bn 1.2bn Cigarettes es Smoke-free Products 3.7bn 2023 3.8bn 2.7bn Cigarettes 1.1bn Smoke-free Products Cigarettes in the Czech Republic include cigarettes and
Slide 7: Fiscal Outlook – Czech Republic
Fiscal Outlook – Czech Republic Cigarettes (CZK/‘000) Nicotine Pouches Minimum Excise Tax (CZK per kg) 1,700 4,890 Heat-not-Burn 1,200 4,660 800 (CZK/kg of tobacco) 400 3,450 4,440 5,260 4,220 3,520 4,570 2024 2025 2026 2027 3,970 3,450 E-liquids for e-cigs 3,000 (CZK per ml) 10 7.5 2023 2024 2025 2
Slide 8: Fiscal Outlook – Slovakia
Fiscal Outlook – Slovakia Nicotine Pouches (€ per kg) Cigarettes (€/‘000 sticks) Minimum Excise Tax 200.0 200.0 100.0 100.0 182.0 166.2 166.2 Heat-not-Burn 148.0 148.0 3,450 (€/kg of tobacco)* 264.8 132.1 2025 2026 2027 2028 238.1 238.1 211.3 211.3 187.8 E-liquids for e-cigs (€ per ml) 0.30 0.30 0.2
Slide 9: Kutná Hora Production (billion units)
Kutná Hora Production (billion units) 2024 34.3bn 3.4bn Other tobacco products Cigarettes 37.7bn 7.0% 4.0% Export Czechia 2024 2023 2022 2021 Slovakia 37.7bn 38.8bn 36.7bn 32.7bn 89.0% Other tobacco products include products such as rolling tobacco (0.73 g is the equivalent of one cigarette) as well
Slide 10: Kutná Hora Investment
Kutná Hora Investment – Kutná Hora is going smoke-free – Extension of the production with the new SFP category: ZYN nicotine pouches – Preparatory phase ongoing: Reconstruction works & machines ordered – Commercial production expected from 2026 – Up to 100 new job creation: various positions & respo
Slide 11: Performance of Individual Cigarette Brands
Performance of Individual Cigarette Brands Market share development of individual brands during 2024 10,2% Continued growth due to Marlboro 9,5% Crafted’s success & resilient Core 8,4% 7,9% 7,7% 7,3% Medium priced L&M under the pressure in 2024 Slight erosion of Chesterfield mainly in the second hal
Slide 12: Performance of Individual Cigarette Brands
Performance of Individual Cigarette Brands Market share development of individual brands during 2024 Market leader for more than 24.2% 23.7% 10 years Resilient performance thanks to 12.6% 13.0% superior brand value Petra scores on the market 4.6% 4.3% with its own resistance 0.7% 0.4% Dec‘ Dec 23 ‘2
Slide 13: News in Cigarette Portfolio
News in Cigarette Portfolio Marlboro Marlboro Line Blue Crafted 30s SSL pack launch Start by revamp Chesterfield L&M Red production 100’s L&M RGD LTK discontinued morphed Marlboro L&M Marlboro 70 new pack into Crafted L&M 70 years Crafted 21 years, formats, Marlboro Blue SLI Selection anniversary st
Slide 14: Smoke-free Product Portfolio
Smoke-free Product Portfolio lil SOLID EZ VEEV ONE ZYN IQOS ILUMA i PRIME VEEV NOW IQOS ILUMA i ULTRA IQOS ILUMA i ONE 14 © Phillip Morris ČR a.s., 2025
Slide 15: News in Smoke-Free Product Portfolio
News in Smoke-Free Product Portfolio IQOS ILUMA ZYN Neon nicotine IQOS Purple pouches‘ ILUMA limited TEREA DELIA introduction Refreshed edition as a KONA consumables – on SK IQOS as a part of tribute to consumables the new series market (Jul) ILUMA our 10 years with real of tobacco and in pilot i Pr
Slide 16: Sustainability Highlights
01 Business Performance 02 Sustainability Highlights 03 Consolidated Financial Results
Slide 17: 10 years' focus on Sustainability in PMI
10 years‘ focus on Sustainability in PMI PMI’s PMI’s 2025 PMI Sustainability PMI Global SMA PMI United Global Compact (CSRD based) Communication Progress 2015 first SMA Roadmap Index PMI Sustainability Report (GRI based) PMI Integrated Report (GRI based) 2015 16‘ 17‘ 18‘ 19‘ 20‘ 21‘ 22‘ 23‘ 24‘ 2025
Slide 18: Sustainability Reporting – Framework & Materiality
Sustainability Reporting – Framework & Materiality Cross Cutting Environment Social Governance Standards ESRS 1 General Climate ESRS S1 Own Business ESRS E1 ESRS G1 Requirements Change Workforce Conduct ESRS 2 General ESRS E2 Workers in Pollution ESRS S2 • Strategies to address identified Impacts, R
Slide 19: Sustainability – Environmental Highlights
Sustainability – Environmental Highlights Material Topics Key Actions Achievements Climate Change Climate Change Climate Change • GHG emissions and decarbonization • PMI’s Transition Plan with clear strategy 100% Green Electricity at manufacturing across whole value chain • Technological improvement
Slide 20: Sustainability – Social Highlights
Sustainability – Social Highlights Material Topics Key Actions Achievements Own Workforce Own Workforce Own Workforce • Labour conditions • Engagement with employees and social dialogue Collective labour agreement, with • Mental health with workers’ representative (Trade Union, Work 84% coverage (co
Slide 21: Sustainability – Governance Highlights
Sustainability – Governance Highlights Material Topics Key Actions Achievements Corporate Governance Company’s Bodies Company’s Bodies • Roles and responsibilities of the • Responsible selection of mandates assignment 35.3% Diversity ratio within Company’s bodies Administrative & Supervisory Bodies
Slide 22: Consolidated Financial Results
01 Business Performance 02 Sustainability Highlights 03 Consolidated Financial Results
Slide 23: Net Revenues
Net Revenues Change in % (CZK million) 2023 2024 Change Actual Excluding currency Net Revenues 20,570 21,608 1,038 5.0% 3.0% 403 (230) (81) 21,608 533 413 20,570 2023 Currency Czech Republic Slovakia Manuf. Services Other 2024 PVM* PVM* PVM* *PVM – Price, Volume and Mix variance Source: Philip Morri
Slide 24: Net Income
Net Income Change in % (CZK million) 2023 2024 Change Actual Excluding currency Net Revenues 20,570 21,608 1,038 5.0% 3.0% Operating income 3,870 4,003 133 3.4% (0.5)% Net income 3,344 3,345 1 0.0% (4.5)% 401 (202) (217) 3,344 151 (132) 3,345 2023 Currency CZ & SK Manuf. Services Costs / Other Finan
Slide 25: Assets & Liabilities
Assets & Liabilities ASSETS Dec Dec LIABILITIES & EQUITY Dec Dec (CZK million) 2024 2023 Change (CZK million) 2024 2023 Change Cash & Equivalents 9,227 7,526 1,701 Trade and other financial liabilities 3,284 2,498 786 Inventories 1,583 1,109 474 Finance lease liability – short term 131 127 4 Receiva
Slide 26: Cash & Cash Equivalents
Cash & Cash Equivalents (CZK million) Dec 2023 Dec 2024 Change Change in % Cash & Cash Equivalents 7,526 9,227 1,701 22.6% 4,229 (912) (3,350) 691 9,227 973 7,526 Cash at Profit Income tax Dividends Changes in Cash at Other DEC‘ 23 before tax paid paid working capital DEC‘ 24 Source: Philip Morris Č
Slide 27: Business Model
Business Model Combustible products Smoke-free products Philip Morris ČR a.s. Philip Morris Product S.A. Entrepreneur Entrepreneur Philip Morris ČR a.s. Philip Morris Slovakia s.r.o. Philip Morris ČR a.s has an entrepreneurial position for Limited Risk Distributor combustible products in both Both,
Slide 28: Important Reported Risk Factor
Important Reported Risk Factor Our profitability, and consequently, the amount of our dividend payout reflects our dual role of being a full risk entrepreneur of combustible portfolio products and a limited risk distributor for smoke-free products. Our remuneration for commercialization of smoke-fre
Slide 29: Net earnings & EPS
Net earnings & EPS Consolidated Earnings per Share (in CZK) 2024 2023 2022 2021 2020 2019 2018 2017 2016 Current Year 1,218 1,218 1,324 1,281 1,285 1,464 1,397 1,269 1,008 Prior Years Retained 16 14 0 29 7 101 304 114 106 Total Retained Earning per Share 1,234 1,232 1,324 1,310 1,292 1,566 1,701 1,3
Slide 30: Thank you
Thank you
Philip Morris ČR a.s. — Shareholder Meeting (May 2025) on 6ix