Philip Morris Releases 2020 Fourth Quarter and Full Year Results

On January 04, 2021, Philip Morris International, the maker of IQOS, released its 2020 Fourth Quarter and Full Year results.

HIGHLIGHTS

• Compared to 2019’s fourth quarter, net revenue decreased by 3.5%
• Compared to 2019’s fourth quarter, operating income increased by 15.9%
• Compared to the previous fiscal year, net revenue decreased by 3.7%
• Compared to the previous fiscal year, operating income increased by 10.8%

IQOS HIGHLIGHTS

• Compared to 2019’s fourth quarter, market share for IQOS products and Lil products, including HeatSticks (excluding the U.S), has increased 1.8 points to 6.7%
• The company reports that the year-end estimate for total number of IQOS users worldwide is approximately 17.6 million
• The company highlighted two important advancements in IQOS brand growth;
  • In July, 2020, the FDA ruled that IQOS could be marketed as ‘reduced-risk‘ 
  • In December, 2020, the FDA authorized IQOS 3.0 for sale in the USA

SOURCES: 

https://philipmorrisinternational.gcs-web.com/static-files/dfa4177b-64ac-4ceb-a893-592519c5df4b

https://www.pmi.com/media-center/press-releases/press-details/?newsId=23156