Philip Morris International's third quarter cigarette shipments, at 239.547 billion, were increased by 4.5 per cent on those of the third quarter of 2010. Excluding acquisitions, shipments were up by 4.4 per cent.
Third quarter shipments increased in Asia by 12.6 per cent to 79.053 billion, and in Eastern Europe, the Middle East and Africa (EEMA) by 5.1 per cent, also to 79.053 billion.
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Shipments decreased in Latin America and Canada by 1.1 per cent to 25.243 billion, and in the EU by 3.5 per cent to 56.198 billion.
PMI's total shipment volume of other tobacco products (OTP), in cigarette equivalent units, excluding acquisitions, grew by 10.0 per cent, with notable rises in Belgium, France and Germany.
And the company's total shipment volume of cigarettes and OTP combined was up by 4.6 per cent, excluding acquisitions.
In reporting its third quarter results yesterday, PMI said that its share performance was stable, or registered growth, in a number of key markets, including Algeria, Argentina, Australia, Austria, Belgium, Canada, France, Germany, Hong Kong, Indonesia, Japan, Korea, Mexico, the Netherlands, Russia, Singapore, Turkey and the UK.
'Total cigarette shipments of Marlboro of 78.9 billion units were up by 3.9 per cent, driven primarily by growth in EEMA of 10.2 per cent, in particular in the Middle East and North Africa, and in Asia of 11.8 per cent, notably in Indonesia, Japan and Korea,' the company said. 'The growth was partly offset by a decline: in the EU of 3.4 per cent, mainly reflecting lower total markets and share, primarily in Poland and Spain, partly offset by growth in France; and in Latin America and Canada of 3.0 per cent, mainly due to a lower total market in Mexico, partly offset by growth in Argentina and Brazil.
'Total shipments of L&M of 23.8 billion units were up by 3.9 per cent, driven by growth in all four regions. Total cigarette shipments of Bond Street of 12.4 billion units increased by 6.8 per cent, led mainly by growth in Russia and Ukraine. Total shipments of Philip Morris of 9.8 billion units increased by 1.8 per cent, mainly reflecting growth in Argentina, France and Japan. Total cigarette shipments of Chesterfield of 10.0 billion units were up by 7.0 per cent, driven by growth in the EU, mainly in Portugal. Total cigarette shipments of Parliament of 10.6 billion units were up by 16.2 per cent, fueled by growth in all four regions. Total cigarette shipments of Lark of 9.7 billion units increased by 44.1 per cent, driven primarily by growth in Japan.'
Meanwhile, during the nine months to the end of September, PMI's cigarette shipments, at 688.644 billion, were increased by 2.0 per cent. Excluding acquisitions, they were up by 0.5 per cent.
Nine-month shipments were increased by 11.2 per cent to 235.187 billion in Asia, and by 0.4 per cent to 218.032 billion in the EEMA region.
But third quarter shipments were down by 3.8 per cent to 73.512 billion in Latin America and Canada, and down by 4.5 per cent to 161.913 billion in the EU.
PMI's reported operating companies' income for the third quarter of this year, at $3.8 billion, was up by 29.2 per cent on that of the third quarter of 2010, or by 23.1 per cent excluding currency factors.
Adjusted operating companies' income was up by 29.8 per cent to $3.8 billion, or by 23.7 per cent excluding currency factors and acquisitions.
Operating income was up by 29.7 per cent to $3.7 billion.
Reported diluted earnings per share of $1.35 were up by 36.4 per cent, or by 32.3 per cent excluding currency factors.
Adjusted diluted earnings per share of $1.37 were up by 37.0 per cent, or by 33.0 per cent excluding currency factors.
"While we benefited from a relatively undemanding comparison, our results this quarter were simply superb on each and every key performance measure," said Louis C. Camilleri, chairman and CEO (pictured).
"Our business in Japan was a key driver of our stellar results, but elsewhere we enjoyed very solid growth and improving trends in virtually all geographies.
"It is heartening to witness that the efforts deployed by all our employees are being rewarded by such significant progress and continued strong momentum." Enditem
