Tobacco concern Philip Morris International has increased shipments of finished products in Ukraine by 8.4% in 2023 compared to 2022, the company said in a press release.
“For 2023, our finished product shipments in Ukraine increased by 8.4%. This figure includes both imported and locally produced products. The increase in shipments occurred as part of our strategy to regain market share, which we temporarily lost due to the war and the forced shutdown of our factory in Kharkiv region,” the company’s press service quoted Philip Morris’ CFO in Ukraine Sergey Kalnoochenko as saying.
According to the published financial report of the company, in the fourth quarter of 2023 PMI increased total shipments of cigarettes and tobacco products for electric heating in Ukraine by 14.9% compared to the same period of 2022.
In total, total finished goods shipments in the company’s European region, which includes Ukraine, increased 2.6% to 53.6 billion cigarettes in the fourth quarter of 2023 compared to the fourth quarter of the prior year, primarily driven by markets in Poland (up 10.6%), Italy (up 4.0%) and Ukraine (up 14.9%), partially offset by lower shipments in France (down 13.7%) and Germany (down 6.2%).
In total, Philip Morris International’s 2023 revenue increased 10.7% to $35.2 billion compared to 2022.
According to the report, the total number of adult IQOS users globally at the end of 2023 was estimated at approximately 28.6 million, an increase of 3.7 million from December 2022.
Philip Morris International (PMI) is a leading international tobacco company that has been operating in the Ukrainian market since 1994. Over 30 years of work, the company has invested more than $700 mln in the Ukrainian economy.
Philip Morris in Ukraine has suspended the operation of its factory in Kharkiv region since February 24, 2022. Since the beginning of the full-scale war in Ukraine, the company has secured a steady supply of its products to Ukraine through imports from 8 PMI factories and a temporary partnership with another international manufacturer in Ukraine.
Philip Morris plans to launch a new factory in Lviv region in the second quarter of 2024 with an investment of $30 mln.
In 2023, the company paid more than UAH 30 bln of taxes to budgets of different levels in Ukraine.
IQOS, PHILIP MORRIS, Philip Morris revenue
