“In future, we may benefit from Airbnb's dividend income but we do not include any impact in our 2025 forecast at this time.”

In context

“plus 2.3% alongside positive smoke-free mix and robust pricing. Now Combined with the operating leverage and manufacturing efficiencies, we delivered close to plus 12% organic operating income growth and plus 10% currency neutral adjusted diluted EPS growth. In dollar terms, adjusted operating income increased plus 15% and adjusted diluted earnings per share grew plus 14% to $1.55 This includes a positive currency impact of six cents which reflects an unfavorable transactional impact in the prior year in Argentina as well as a move to hyperinflationary accounting in Egypt, which also a negative impact on our organic growth of around one point on net revenues and two points on operating income. So The noncash impairment of our RBH equity investment had no impact on our adjusted financials. In future, we may benefit from Airbnb's dividend income but we do not include any impact in our 2025 forecast at this time. Let's take a step back and consider 2024 in the context of the last few years. Our organic top line delivery has been consistently strong since the pandemic and further accelerated this year as both smoke-free product and combustible step up than combustible step up their trajectory. Clearly, 2024 was all also a standout year for adjusted diluted EPS growth. The profitability of our smoke-free business accelerated due to the operating leverage of IQOS increasing scale favorable unit economics, pricing, efficiency, and the impressive accretion from ZYN's rapid growth at superior US margins. We also benefited from a notably robust combustible performance which provide important structural support for our transformation journey. These dynamics are further demonstrated by the organic top line”