Philip Morris International Reports Strong Growth for 2021
Philip Morris International reported net revenue of $31.41 billion for 2021, up 9.4% from 2020. Operating income reached $12.98 billion, compared with $11.67 billion the previous year. Due to a customs assessment in Saudi Arabia during 2021, the company’s
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Philip Morris International reported a net income of $31.41 billion for 2021, a 9.4% increase from the net income reported in 2020. The company's operating income was $12.98 billion, compared to $11.67 billion the previous year. Due to customs assessments in Saudi Arabia in 2021, the company's net income was $246 million lower than it should have been.
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PMI reported a net income of $8.1 billion for the fourth quarter of 2021, an 8.9% increase compared to the income reported in the same period of 2020. The company's fourth-quarter operating income was $2.95 billion, compared to $2.91 billion in the same quarter of the previous year.<\/span><\/div>
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PMI's traditional cigarette shipment volume in 2021 was 624.88 billion sticks, a 0.6% decrease from 2020. The number of heated tobacco products increased by 24.8% to 94.98 billion sticks. In the fourth quarter of 2021, the company shipped a total of 158.38 billion traditional cigarette sticks and 25.4 billion heated tobacco products, representing increases of 2.4% and 17%, respectively, compared to the fourth quarter of 2020.<\/span><\/div>
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PMI CEO Jacek Olczak stated in a statement.<\/span><\/div>
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“We are particularly pleased with the growth of our business in the fourth quarter and the results that exceeded expectations. This includes continuous growth in IQOS users and the outstanding performance of IQOS ILUMA. We also achieved a relatively stable share of traditional cigarettes during this quarter and experienced growth during the pandemic.”<\/span><\/div>
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“We enter 2022 with a strong foundation, supported by IQOS and exciting innovations to realize our broader smoke-free product portfolio. We forecast growth of 4% to 6%, with adjusted diluted earnings per share growth of 8% to 11%, cautiously considering the ongoing uncertainty regarding the full availability of IQOS devices and the pace of recovery from the ongoing pandemic.”<\/span><\/div>
