Philip Morris International releases 2021 Q1 financial report: the total number of IQOS users reaches 19.1 million.
The market share of heating tobacco devices in the IQOS market excluding the United States increased by 1.7% to 7.6%.
On April 21, Philip Morris International Inc. (NYSE: PM) today announced the results of the first quarter of 2021.
Highlights of the first quarter of 2021:
- Diluted earnings per share were US$1.55, an increase of 32.5%.
- Adjusted diluted earnings per share were US$1.57, an increase of 29.8%.
- Unit shipments of cigarettes and heated tobacco decreased by 3.7% (reflecting a decrease in shipments of cigarettes by 7.3%, shipments of heated tobacco units increased by 29.9% to 21.7 billion units)
- The market share of heating tobacco devices in the IQOS market excluding the United States increased by 1.7% to 7.6%.
- Net income increased by 6.0% and organic growth was 2.9%.
- The net income of smokeless products accounted for 28.0% of the total net income.
- Operating income increased by 23.5%.
- The adjusted operating income increased by 18.5% organically.
- The adjusted operating profit margin was 46.0%, with organic growth of 5.9%.
As of the end of the quarter, the total number of IQOS users is estimated to be approximately 19.1 million, of which approximately 14 million have switched to IQOS and quit smoking.
CEO André Calantzopoulos said that despite the challenge of the new crown pandemic this year, he is glad to have a very strong start this year, with its top-line and bottom-line performance far beyond the top-line performance. Expectations for the first quarter.
He said that this performance is driven by the continued strength of IQOS, especially reflecting the outstanding user, number, and market share dynamics, as well as further progress in manufacturing and operating cost efficiency. The result is also due to the timing of specific factors (especially related factors) to select the stage of shipments and commercial investment in certain markets, which is expected to be partially reversed in the second quarter.
Although the speed and form of the global recovery from the pandemic remain uncertain, Philip Morris is fundamentally improving our full-year outlook to reflect the strong performance and positive momentum in the first quarter.
