- PMI’s cigarette shipment volume in EEMA increased by 4.7%, mainly reflecting improved market conditions and higher share in Egypt, a higher market share in Russia, and a higher total market and share in Turkey.
- Reported net revenues increased by 5.7% to $8.3 billion, including unfavorable currency of $467 million.
- Excluding currency and acquisitions, net revenues increased by 11.3%, primarily due to both favorable pricing and volume/mix of $466 million and $425 million, respectively.
- Reported OCI increased by 15.4% to $3.7 billion, despite unfavorable currency of $199 million.
- Excluding the impact of currency and acquisitions, OCI increased by a strong 21.4%, due primarily to higher pricing, and favorable volume/mix of $317 million, partly offset by higher costs, principally related to investments in marketing and business infrastructure mainly in Russia.
- Excluding the impact of currency and acquisitions, adjusted OCI margin was up by 3.5 percentage points to 44.8%.
