Fimo International Q3 Financial Report: The Total Number Of Smokeless Product Users Has Reached 36.5 Million, And ZYN's Sales in The United States Have Increased By 41.4% To 149 Million Cans

Fimo International Q3 Financial Report: The total number of smokeless product users has reached 36.5 million, and ZYN's sales in the United States have increased by 41.4% to 149 million cans

The PMI Q3 2024 report shows that its smokeless product shipments reached nearly 40 billion units in 92 markets worldwide, with a total of 36.5 million users.

 

On October 22nd, PMI released its performance report for the third quarter of 2024. The report shows that the third quarter revenue was 9.91 billion US dollars, a year-on-year increase of 8.4%. PMI's quarterly shipment of smokeless products is close to 40 billion units in 92 markets worldwide. Smoke free business accounted for 38% of PMI's total net revenue and 40% of gross profit, with year-on-year growth of 1.9 and 2.2 percentage points respectively in the third quarter of last year. Net income and gross profit achieved growth of 14.2% and 15.9% respectively. The total number of users of smoke-free products reached 36.5 million.

Report | Image source: PMI official website

 

IQOS: accounting for nearly 77% of global sales of non combustible heating products

 

PMI stated in its performance report that IQOS, as the second largest nicotine brand, has further increased its market share, driving growth in the category of heated non combustible products, accounting for nearly 77% of global sales of similar products. The adjusted market sales volume (excluding inventory changes) is estimated to have increased by 14.8%.

 

Japanese market: ILUMA i drove IQOS growth, with adjusted sales increasing by 14.3%, marking the eighth consecutive quarter of double-digit growth. IQOS's HTU market share has increased to nearly 30%, driving the category to occupy at least 50% of nicotine consumption share in 8 major cities including Tokyo and Yokohama.

 

European market: IQOS's HTU market share increased to 9.5%, with adjusted sales growth accelerating to 11.3%. The Italian market has recovered well, with growth exceeding 20% in eight markets including Greece and Germany. IQOS's consumables product portfolio continues to expand, with DELIA and LEVIA already launched in 9 markets and plans to further promote them in the fourth quarter.

 

Outside of Europe and Japan: IQOS has seen significant market share growth in major global cities such as Seoul, Toronto, Mexico City, Cairo, and Jakarta, particularly in Indonesia, thanks to the expansion of its geographic coverage and product portfolio.

 

 

VEEV: Leading ammunition exchange brand in European markets such as Italy and Romania

 

PMI stated that in the European market, VEEV's closed cartridge exchange products continue to capture market share in disposable products and are in a leading position. VEEV leads the closed ammunition exchange market in multiple markets including Italy, Romania, and the Czech Republic.

 

 

ZYN: Sales of 149 million cans in the US market have entered over 30 markets

 

The canned shipment volume of nicotine bags ZYN increased by 24.7%, mainly driven by the growth of ZYN nicotine bags in the United States - the shipment volume in the United States reached 149.1 million cans, a year-on-year increase of 41.4%. The market outside the United States has grown by nearly 70%, with significant contributions from the markets of Pakistan and South Africa. ZYN has entered 30 markets, including recently entered Greece and the Czech Republic.

 

PMI CEO Jacek Olczak stated that in the third quarter, we achieved extremely strong performance, achieving record quarterly net income and earnings per share. This reflects the good development momentum of all regions and categories, with IQOS's adjusted in market sales growth accelerating again, ZYN's sales strong, and combustible products performing steadily. Due to our strong performance so far this year, we have raised our annual adjusted diluted earnings per share growth forecast to the range of 14% to 15% (excluding exchange rate effects)