CLAIM #50003 · PM (PM) · 2023Q3 earnings call · Oct 19, 2023 · due Dec 31, 2023
“This includes the expectation of higher device sales as we accelerate our ILUMA rollout to reach around 50 markets by year end, complemented by further ILUMA device innovation.”
Emmanuel Babeau · CFO
In context
“ic growth of around plus 9%. Second, we expect a significant re-acceleration in profit growth. We continue to expect organic operating income margin expansion in H2, and we are well on track after delivering another quarter of sequential adjusted OI margin improvement in Q3, with margins also expanding organically year-on-year. In H2, we expect strong organic operating income growth of around 10%. For the full-year, our expectation remains that organic margin evolution will be towards the lower-end of our minus 50 basis point to minus 150 basis point range, including the expected technical margin impact of around 40 basis points from third-party arrangement in Indonesia and Ukraine. For Q4, we expect strong operating income growth with broadly stable year-on-year organic margin provision. This includes the expectation of higher device sales as we accelerate our ILUMA rollout to reach around 50 markets by year end, complemented by further ILUMA device innovation. This very positive organic OI trajectory in H2 naturally translate into an acceleration in currency-neutral adjusted diluted EPS growth posted by Swedish Match. Now turning back to our results, our total shipment volume increased by plus 2.2% for Q3 and plus 1.5% year-to-date, putting us comfortably on track to deliver our third sequential year of growth. HTU shipment volumes grew by plus 18% in Q3 to reach 32.5 billion units, driven by continued strong performance in Europe and Japan. Adjusting for inventory movement, including the transition back to sea freight, Q3 adjusted IMS grew by plus 14.4%. This includes Europe at plus 16% despite heightened competitive activity, notably in Poland. And a more normalized growth rate in Japan of plus 12%. Excluding Russia and Ukraine where growth r”
Verify independently
SEC filings for PM ↗ · Claim quote is verbatim from the 2023Q3 earnings call.