“We expect further strong adjusted IMS growth in the remainder of the year.”

In context

“nia, we see several points higher SSP volume growth. In Japan, we achieved the significant milestone of 10 million estimated users and Q2 adjusted HTU shares increased plus 2.3 percentage point year on year to 31.7% despite increase competitive intensity. IQOS continues to deliver strong progress with Q2 adjusted IMS growth of plus 7.8% against the prior year period, which included the full launch of Iluma I. As shown on the slide, I could deliver truly exceptional growth in 23 and 24, especially considering the size of the category, now stands at almost half of total nicotine of tech volume nationally, and more than half in certain cities. The high single digit growth that our business delivered in H1 2025 remains very healthy and is essentially in line with the trend in the years prior. We expect further strong adjusted IMS growth in the remainder of the year. We are pleased to see our competitors embrace the heat not burn category as while our category share was sequentially stable at around 70% in Q2, Our biggest focus is on accelerating the size of smoke-free product overall maximize the growth of our leading proposition and convert more smokers. Switching now to the US. The strong reacceleration in ZYN of the growth is a clear highlight of our Q2 performance and testament to the strength of the brand as in store availability improves and legal edge consumers regain access to the full ZYN portfolio offering. The supply constraint of previous quarters had limited the growth in sellout volumes and meant ZYN was growing less than the overall category. With manufacturing capacity now in very good shape, The recovery to around plus 36% of tech vo”