“We continue to expect shipments to match consumer demand at some point during the fourth quarter.”

In context

“on, including a growing offer of clove TEREA HTU variants. Finally, I would like to call out duty-free, where the ongoing travel recovery combined with the strength of our multicategory portfolio delivered dynamic growth, with ZYN and VEEV increasingly offered alongside IQOS. Moving now to ZYN, the number one U.S. smoke-free brand continues to see very strong underlying momentum. As flagged previously, we are working to progressively increase our production volumes, and this was reflected in a sequential acceleration to 149 million cans shipped in Q3. As we continued working through these supply constraints, ZYN’s category share stabilized and then resumed growth on a sequential basis through the quarter, despite a further $0.15 per can list price increase taken at the start of September. We continue to expect shipments to match consumer demand at some point during the fourth quarter. While gauging the level of underlying demand is not an exact science in the current circumstances, our promotional and commercial activity has naturally been lower as we prioritize meeting existing consumer needs over growing the legal-age user base from other nicotine categories. With ongoing efforts to increase our U.S. production capacity to around 900 million cans for the full year of 2025, and significant expansion beyond 2025 from our planned new facility in Colorado, we believe we are well positioned to capture ZYN’s potential over the coming years. We remain committed to driving industry standards in under-21 prevention, with policies and initiatives designed to prevent youth access. Our robust U.S. marketing code prohibits social media influencers and we refuse requests for such”