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CLAIM #50087 · PM (PM) · 2024Q1 earnings call · Apr 23, 2024 · due Dec 31, 2024

As previously flagged, our 2023 share of segment was flattered by competitor supply constraints in Egypt which may normalize this year.

Emmanuel Babeau · CFO

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versus commitment · official band 5 percent
Committed
our 2023 share of segment was flattered by competitor supply constraints in Egypt which may normalize this year
Reported
category share was flat in q four with positive contribution from Turkey and India. Offset by decline in Egypt and Indonesia

In context

h WeCard to help ensure retail sales only to legal-age adults. I'd like to spend a moment now on combustibles, where our portfolio delivered robust organic net revenue growth of plus 3.7% in Q1. This primarily reflects better-than-expected pricing of plus 7.9%, with a notable contribution from Germany, and stepped-up pricing in Egypt. The pricing environment remains favorable, and we now forecast a full-year increase of 6% to 7%, with annualization effects lessening in H2. Our cigarette category share grew by plus 0.3 points in Q1. This includes positive contributions from Algeria, Poland, and Turkey, resulting in only a modest volume decline in a total cigarette industry which fell by 0.6%. Our global brands gained category share during the quarter, with Marlboro gaining plus 0.4 points. As previously flagged, our 2023 share of segment was flattered by competitor supply constraints in Egypt which may normalize this year. As I already mentioned, strong pricing in Q1 coupled with accelerated manufacturing productivities also resulted in a better-than-expected margin evolution. Now, let me provide an update on our latest innovation and expansion plans as we further accelerate our smoke-free transformation. As I covered earlier, we recently launched IQOS ILUMA i, our most innovative offering to-date, in Japan. The ILUMA i portfolio consists of three devices offering a range of adaptable new features. This includes the new touch screen on the device's holder which allows users to see experience-relevant information quickly and easily, as well as a pause mode so users can pause and resume their smoke-free moment where they left off. Initial consumer feedback has been very positive. Japan was the first market to

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SEC filings for PM · Claim quote is verbatim from the 2024Q1 earnings call.