CLAIM #50069 · PM (PM) · 2023Q4 earnings call · Feb 11, 2024 · due Dec 31, 2024
“So right now, if we roll this forward to 2024, I think that Japan is on the good momentum. ZYN in the U.S. continues this momentum. Europe is going very strongly very well.”
Jacek Olczak · CEO
In context
“ive smoking, the pouches and obviously, creates a very good opening for us in entering the U.S. market and that ZYN is clearly is growing above their expectations. What is very important is we hear from time-to-time, quite rightly, conversations about some unintended consequences about the use of the product. I am so pleased with both IQOS and with ZYN actually are delivering of as they were designed for, i.e. going after adult smokers in the U.S. above 21 years. We're all familiar with the CDC data, less than 80% youth usage, the same is for IQOS and international. So we have a good -- my view is we have a very good, sustainable growing two fabulous propositions in a smoke-free product, and we're also trying here to be very focused from a financial perspective with regards to the e-vape. So right now, if we roll this forward to 2024, I think that Japan is on the good momentum. ZYN in the U.S. continues this momentum. Europe is going very strongly very well. Yes, we have this distortion maybe potential headwinds we're getting there. We very clearly indicated the $2 billion potential impact from the flavor ban in the EU. But other than that, these key geographies and these key geographies also are very important from the margin perspective expansion, they really are on the positive side. And I don't want to sound negative on the rest of the world. However, one thing you should note that, on occasions, there might be some conversations around the growth trajectory of IQOS and so on. And you remember during Investors Day, I've been very clear. We're running IQOS 10 consecutive years of fabulous growth despite the fact that we essentially lost any growth, access to any growth in Russia and Ukraine. And historically, I mean, Russia alone was deli”
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SEC filings for PM ↗ · Claim quote is verbatim from the 2023Q4 earnings call.