CLAIM #50333 · PM (PM) · 2025Q2 earnings call · Jul 22, 2025 · due Dec 31, 2026
“The fact that we believe we are going to be back to what we think is a long term trend for the combustible business, which is a low single digit decrease.”
Emmanuel Babeau · CFO
How to check this claim
Look at: Full-year combustible cigarette shipment volume, year-over-year percentage change
It came true if: Decline between 1% and 4% (low single digit decrease)
Where: Company-reported cigarette shipment volumes (10-K / quarterly earnings release)
In context
“trajectory and growth potential for IQOS. And in this new growth market, the momentum, I would say, is progressively building up. Eric Serrano: Great. And just one follow-up on Combust Your volumes down one and a half percent, or I should say only one and a half percent despite the headwinds you called out in Turkey and Indonesia. Was that actually a little bit better than than you expected since know, you guys have been pretty upfront really since last year that that you expect combustibles volumes to resume their declines in twenty twenty five. Emmanuel Babeau: So you're right. Globally today, you know, when we say that for the the year, we are targeting to be around minus two percent in term of shipment. That's something that I had the ability to say in previous instances very clearly. The fact that we believe we are going to be back to what we think is a long term trend for the combustible business, which is a low single digit decrease. I'm not able to specifically say exactly which kind of low single digit, but that is a trend for sure. That we expect in the future. Yes. Of course. You know, country where there is a ban on smoke free can have some impact on this low single digit decline, but nevertheless, that is a trend. That's what we have seen in in in Q2. Largely in line with our expectation, and that's what we expect with for for H2 with this impact of Turkey that is a kind of transitional thing that is going to impact H2 more specifically. But, otherwise, I think we are progressively going back to what we described as a as a normal long term trend for combustible. Eric Serrano: Great. Thanks so much, Emmanuel. I'll pass it on. Thank you. Thank you. Operator: Thank you. Our next question comes from Matt Smith with”
Verify independently
SEC filings for PM ↗ · Claim quote is verbatim from the 2025Q2 earnings call.