“We continue to assume an authorization from the FDA in the second half of 2025.”

In context

“e innovate to broaden and enhance our offer for both existing user and switching other smokers. Further market launches are planned in H2 including DELIA and LEVIA HTUs and the new ILUMA i device range which is currently only available in Japan. We also continue with our preparation for IQOS ILUMA in the U. S. And we are underway with consumer engagement for our first city pilot in Austin, Texas with the IQOS 3 system, which we expect to start in Q4. As mentioned previously, the commercialization will be initially limited in scope and focused on direct activation of select legal edge smokers in a few cities, allowing us to experiment with different elements of the commercial model. The main purpose is to fine tune our approach and readiness in anticipation of the at scale launch of ILUMA. We continue to assume an authorization from the FDA in the second half of 2025. Focusing now on combustibles. Our portfolio delivered robust organic net revenue growth and a very positive profit contribution as I covered earlier. This reflects resilient volume despite very strong Q2 pricing of plus 8.7% including our proactive action to maximize growth. It is worth noting the large majority of our pricing is derived from regular pricing action unrelated to significant currency devaluation. Factoring the strong H1 and favorable outlook, we now forecast an increased fully combustible price variance of plus 7% to plus 8%. Our cigarette category share was stable in H1 and down 0.2 in Q2, or stable excluding market mix impact. Lower share in Egypt and Indonesia was offset by positive contribution from Turkey, India and the Europe region, again despite strong pricing. Our”