“With better-than-expected pricing in Q3 of plus 9% and plus 8.6% year-to-date, we now forecast a full-year increase of plus 8% to plus 8.5%.”

In context

“key cities offtake share across markets in Eastern Europe, Africa, Asia, and Latin America. We see notable ongoing success in Egypt with Cairo offtake share of plus 3.5 points to almost 9%. And in Santo Domingo our leading Latin America city, with offtake share around 8%. Most promising is a 3.1% offtake share in [Urban] (ph) Jakarta, where IQOS is only available via the IQOS Club Members program. We continue to see robust offtake volume growth across this important future market, despite seasonal effect on sequential share metrics. I'd like to spend a moment now on combustibles, where our portfolio delivered strong organic net revenue growth of plus 6.2% in Q3 and plus 5.6% year-to-date. This reflect another strong quarter of pricing with notable contribution from Germany and Indonesia. With better-than-expected pricing in Q3 of plus 9% and plus 8.6% year-to-date, we now forecast a full-year increase of plus 8% to plus 8.5%. Our cigarette category share grew by plus 0.6 point in Q3 and plus 0.3 points year-to-date. This reflects notable contribution from Egypt, Poland and Turkey, resulting in only modest volume decline. Our leadership in combustibles helps to maximize switching to smoke-free product and we have fully achieved our ongoing objective of stable category share over the last two years, despite the impact of IQOS cannibalization. This combustible share performance combined with the structural growth of IQOS supports robust overall market-share gains. We captured plus 0.9 point of international cigarette and HTU share in Q3. And plus 0.7 points year-to-date. As covered at Investor Day, our superior share of smoke-free product give us a formidable platform for sustainable market-share gains with super”