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Philip Morris International Inc.
Type
Public
Traded as
  • NYSE: PM
  • Euronext: PM
  • S&P 100 Component
  • S&P 500 Component
Industry Tobacco
Founded 1900; 117 years ago (1900)
Headquarters New York City, New York, USA
Area served
Worldwide (excluding the United States)
Key people
Louis Camilleri (Chairman)
André Calantzopoulos (CEO)
Products Cigarettes, cigars, Codentify, fine-cut rolling tobacco, snuff, rolling papers and tubes
Revenue Increase US$80.106 billion (2014)
Operating income
Decrease US$11.702 billion (2014)
Net income
Decrease US$7.658 billion (2014)
Total assets Decrease US$35.187 billion (2014)
Total equity Decrease US$12.629 billion (2014)
Number of employees
82,500 (2014)
Subsidiaries Sampoerna
PMFTC, Inc.
Rothmans, Benson & Hedges
Papastratos Philip Morris International
Website www.pmi.com

Philip Morris International Inc. (PMI) (NYSE: PM) is an American global cigarette and tobacco company, with products sold in over 180 countries outside the United States. The most recognized and best selling product of the company is Marlboro.

Until a spin-off in March 2008, Philip Morris International was an operating company of Altria Group. Altria explained the spin-off, arguing PMI would have more "freedom" outside the constraints of US corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets.", while Altria focuses on the United States. The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets.

The company's operational headquarters are in Lausanne, Switzerland, although the corporate headquarters remain in New York. It does not operate in the United States, with Philip Morris brands there still owned by PMI's former owner Altria.

Because tobacco, the main constituent of cigarettes, is the single greatest cause of preventable death globally and is addictive, the company's operations (and its competitors') are highly controversial and are increasingly the subject of litigation and restrictive legislation from governments concerned about the health impacts of its products.

Philip Morris was a long-term main sponsor of the Scuderia Ferrari Formula One team until 2011 and continues its association with the team as of 2017, albeit on a more low-key basis and without overt advertising.

The company states its history is traced to a London tobacconist's, Philip Morris’s, 1847 opening of a single shop on London’s Bond Street which sold tobacco and cigarettes.

The current operations center of the company is located in Lausanne, Switzerland; it owns 7 of the top 15 tobacco brands in the world.

In April 2014, Philip Morris announced that it would close its Moorabbin plant in Australia by the end of 2014 after operating for 60 years, due to the gradual decline of sales in the last ten years and difficulties conforming to 2010 Australian government regulation about reducing fire risks.

In 2015 it sold 850 billion cigarettes.

Philip Morris International has six multi-billion US$ brands including:
1. Dji Sam Soe 234 was launched in 1913 and is a brand of Kretek cigarettes. It is the best seller of Kretek cigarettes in Indonesia.
2. L&M was launched by Liggett & Myers in 1953 with the tagline: "American cigarettes of the highest quality with the best filter." L&M variants include full flavor shorts, full flavor 100s, lights, ultra lights, menthol shorts, menthol 100s, menthol light shorts, menthol light 100s, Turkish Blend shorts, Turkish Blend 100s, and L&M Mild Kretek.
3. Longbeach include in Australia and Indonesia in 1999. Longbeach variant include: Longbeach Filter and Longbeach Mild.
4. Marlboro was launched in 1904. Marlboro is the premium brand. Marlboro variants include: Marlboro Special, Marlboro Menthol, Marlboro Lights, Marlboro Lights Menthol, Marlboro Mix-9 Filter Kretek, Marlboro Flavor Plus, Marlboro Black Menthol, and Heatsticks, a heated tobacco product.
5. ST Dupont Paris is the brand cigarette designed by Simon Tissot Dupont in 1902. With the black packaging. ST Dupont Paris variants include: filter, lights, menthol, and menthol lights.
6. U Mild was launched in Indonesia in May 22, 1998 after Indonesian revolution. U Mild is a Mild Kretek cigarette sold in Indonesia.

Its main brands are Dji Sam Soe 234, L&M, Longbeach, Marlboro, Minak Djinggo, ST Dupont Paris, U Mild, Philip Morris, Red and White, Basic, Bond Street, Chesterfield, Parliament, Lark, Merit, Morven Gold, Muratti, Skjold, Good Companion, Multifilter, Virginia Slims, IQOS, Benson & Hedges (with British American Tobacco, Gallaher Group, and Japan Tobacco), Escort (with British American Tobacco and Imperial Tobacco), John Player & Sons (with British American Tobacco and Imperial Tobacco), and Peter Stuyvesant (with British American Tobacco and Imperial Tobacco).

Local brands include: Rym, Gauloises (with Imperial Tobacco), Dji Sam Soe 234, L&M, Longbeach, Marlboro, Minak Djinggo, ST Dupont Paris, U Mild, Nassim, and Winston (with Japan Tobacco) (Algeria), Philip Morris and Marlboro (Argentina), Marlboro and L&M (Belgium), Marlboro, L&M, Shelton, Dallas, Muratti, Luxor, Sampoerna A, Chancellor, and Fortuna (Brazil), Marlboro, Parliament, Muratti, Assos, L&M, Eve, and Virginia Slims (Bulgaria), Benson & Hedges (with British American Tobacco, Gallaher Group, and Japan Tobacco), Belmont, Craven A, Rothmans International (with British American Tobacco), Canadian Classics, Number 7, Accord, and Mark Ten (Canada), Marlboro (China), Boston, Caribe, Green, Derby, Marlboro, Pielroja, and American Gold (Colombia), Derby, Marlboro, and Next (Costa Rica), Marlboro, L&M, and Skjold (Denmark), Nacional, Marlboro, Next, and Lider (Dominican Republic), Marlboro, Líder, Lark, and Philip Morris (Ecuador), L&M, Marlboro, Next, and Merit (Egypt), L&M, Next, and Marlboro (Estonia), Marlboro and ST Dupont Paris (France), Marlboro (Finland), Marlboro, L&M, and F6 (Germany), Marlboro, Wismilak Diplomat (with Japan Tobacco), Rubios, and Lider (Guatemala), Marlboro, Virginia Slims, Multifilter, and Bond Street (Hungary), Dji Sam Soe 234, L&M, Longbeach, Marlboro, ST Dupont Paris, Sampoerna A, and U Mild (bold font meaning Philip Morris International's main brands) (Indonesia), Marlboro, Merit, Philip Morris, Chesterfield, Virginia Slims, and Diana (Italy), Marlboro, Lark, Parliament, Philip Morris, and Virginia Slims (Japan), Marlboro, Parliament, L&M, Bond Street, Astra, Prima, Polet, Medeo, Kazakhstanskye, and Souz Apollon (Kazakhstan), Marlboro, Parliament, Chesterfield, L&M, Bond Street, and Red & White (Latvia), Marlboro, Bond Street, Merit, Chesterfield, Virginia Slims, and Parliament (Lebanon), Marlboro, L&M, Chesterfield, Parliament, Bond Street, Red & White, and Partner (Lithuania), Dji Sam Soe 234, L&M, Longbeach, Marlboro, ST Dupont Paris, and U Mild (Philip Morris International's main brands) (Malaysia), Marlboro, Delicados, Benson & Hedges (with British American Tobacco, Gallaher Group, and Japan Tobacco), Faros, Elegantes, and Chesterfield (Mexico), Fortuna, Gauloises (with Imperial Tobacco, Marlboro, and Marquises, (Morocco), Chesterfield, L&M, and Marlboro, (Netherlands), Philip Morris Red.

The Sampoerna products include Sampoerna A Kretek Teman Yang Asyik (English : Passionate Friends), Sampoerna A Kretek Yang Spesial (English : Most Special), Sampoerna Hijau, Go Ahead (A Mild, Avolution, A Flava Click Mint), Sampoerna A King Size, Sampoerna A International, Sampoerna A Medium, Sampoerna A Exclusive, Sampoerna A King, Sampoerna A Menthol, Sampoerna A Slims, Sampoerna X-Tra, Sampoerna Classics, and Sampoerna Special Edition Millennium 2000.

The Bentoel Group products on 1980-2005 include Bentoel Biru, Bentoel Sejati, Bentoel Merah, Bentoel Mild, Star Mild, X Mild, Rawit, Pr1nsip, and Country.

PMFTC, Inc.'s products include Champion, Fortune, and Hope.

Benson & Hedges

Dji Sam Soe 234

L&M

Longbeach

Marlboro

ST Dupont Paris

Basic

Bond Street

Lark

Merit

Information from company website.

PMI has a research and development program, and declares its priority to be "developing products with the potential to reduce the risks of smoking-related diseases." It says the focus of the program is reducing the levels of toxic chemical compounds. So far, most extensive project is IQOS - a heat not burn tobacco product.

The Australian Government announced it would introduce "Tobacco Plain Packaging Laws" on April 29, 2010. Philip Morris International (PMI), arranged for its wholly owned Hong Kong subsidiary Philip Morris Asia (PMA) to 'takeover' two Australian subsidiaries - Philip Morris Australia Limited and Philip Morris Limited on February 23, 2011. In June 2011, Philip Morris International announced it was using ISDS provisions in the Australia-Hong Kong Bilateral Investment treaty (BIT) to demand compensation for Australia's plain cigarette packaging anti-smoking legislation. It was one of several tobacco companies to launch legal action against the Australian Government. British American Tobacco, Philip Morris, Imperial Tobacco and Japan Tobacco International are taking the Australian government to the High Court of Australia to try to stop the elected government of Australia from introducing plain packaging for tobacco products. The government is doing this to lower the rate of deaths related to smoking.

Two challenges to the tobacco plain packaging legislation were heard by the High Court of Australia between 17–19 April 2012: British American Tobacco Australasia Limited and Ors v. Commonwealth of Australia and J T International SA v. Commonwealth of Australia.

On 15 August 2012, the High Court handed down orders for these matters, and found that the Tobacco Plain Packaging Act 2011 is not contrary to s 51(xxxi) of the Constitution. On 5 October 2012 the Court handed down its reasons for the decision. By a 6:1 majority (Heydon J in dissent) the Court held that there had been no acquisition of property that would have required provision of 'just terms' under s51(xxxi) of the Constitution.

On 18 December 2015 the Tribunal instituted by the United Nations Commission on International Trader Law (UNCITRAL) issued a unanimous decision (3-0) agreeing with Australia's position that the Tribunal has no jurisdiction to hear PMA's claim. This was due to the fact that PMI used its wholly owned subsidiary PMA to takeover the Australian-based PM subsidiaries in order to specifically sue the Australian Government for bringing in plain packaging laws. PMI was unable to do this itself as the Australia-United States FTA agreement signed in 2004 did not have any ISDS clauses included - by design.

The WTO's Dispute Settlement Body in 2017 supported Australia's right to enforce plain packaging. In 2017 PMI was instructed to pay the Australia government's legal costs, an estimated 50 million dollars.

Philip Morris also sued Norway over the country's ban on displaying tobacco products in stores. It lost the case in 2012.

In 2010, the company lobbied against Uruguay's strong anti-smoking laws and filed a complaint against the country (Philip Morris v. Uruguay) under the Switzerland-Uruguay bilateral investment treaty. On July 8, 2016, the International Centre for Settlement of Investment Disputes ruled in favour of Uruguay.

In August 2014 the company foreshadowed legal action against the UK Government if it went ahead with plans to introduce plain packaging. In a submission to the government, Philip Morris International said it would seek compensation running into "billions of pounds," if the proposed legislation went ahead.

From the 1970s to the late 1990s, Phillip Morris along with British American Tobacco, was involved in campaigns to undermine bans against smoking in Muslim majority countries by branding Muslims who opposed smoking as a "'fundamentalist’ who wishes to return to sharia law," and be "a threat to existing government as” according to leaked documents. A 1985 report from Philip Morris squarely blamed the World Health Organization: “This ideological development has become a threat to our business because of the interference of the WHO … The WHO has not only joined forces with Moslem fundamentalists who view smoking as evil, but has gone yet further by encouraging religious leaders previously not active anti-smokers to take up the cause." Philip Morris has refused to comment on these findings.

Philip Morris International has announced an overhaul of its human rights protections of tobacco workers in Kazakhstan and 30 other countries after critical reports.

The company runs an information web site outlining the health issues of tobacco. However, it has been criticised in an article in the journal Public Health Nursing as merely a "public relations effort" intended to "undermine public health".

In the 1930s, the company's tobacco advertisements were a steady source of income for numerous medical organizations and journals, including the New England Journal of Medicine (NEJM) and the Journal of the American Medical Association (JAMA).

In February 2015, John Oliver highlighted the company's many international legal cases on an episode of his television show Last Week Tonight. He also attempted to raise awareness for his campaign using the hashtag #JeffWeCan.

The company says it gives $25 million per year to charitable causes including domestic violence, emergency housing, education, combating poverty, and teaching sustainable agriculture techniques in Africa.

Philip Morris sponsored sports event include Racing, Football, Badminton, Golf, Cricket, and Ice Hockey.

Philip Morris is a long-term main sponsor of Formula One team Scuderia Ferrari. The sponsorship is subliminal in the logo these days due to restriction in tobacco sponsorship, but Marlboro-branded Ferrari and McLaren cars won several world titles with famous drivers such as Alain Prost, Ayrton Senna and Michael Schumacher. Philip Morris also sponsored several title winners in MotoGP in road racing and Indy Cars. The Ferrari Formula One deal before direct sponsorships was banned was estimated to be worth £45 million a year as well as paying the multi-million salary of Schumacher. The current deal is estimated to be even more lucrative, in spite of its logo not being legally allowed to be displayed on the car.

Philip Morris Racing Team outside the global series' sponsored by Marlboro & Dji Sam Soe 234, include Motorcycle Racing (for prohibited motorcycle racing, see on Malaysian Wikipedia : [Lumba haram, and see Mat Rempit), Rally Car, and Bicycle Racing Tour d'Indonesia (sponsored by Dji Sam Soe 234). Jordan Grand Prix Car Racing Team is sponsored by Benson & Hedges (with British American Tobacco, Gallaher Group, and Japan Tobacco) from 1996-2005 with tagline : "Be On Edge" (Benson & Hedges). Philip Morris Dragon Boat is sponsored by Dji Sam Soe 234.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2023-02-09 Future report Set alerts
Q3 2022 2022-10-20 1.33 1.33
Q2 2022 2022-07-21 1.32 1.32
Q1 2022 2022-04-21 1.46 1.46
Q4 2021 2022-02-10 1.35 1.35
Q3 2021 2021-10-19 1.58 1.58
Q2 2021 2021-07-20 1.57 1.57
Q1 2021 2021-04-20 1.57 1.57
Q4 2020 2021-02-04 1.26 1.26
Q3 2020 2020-10-20 1.42 1.42

Ratings

2016-06-17 Upgrade JPMorgan Chase & Co. Neutral to Overweight $112.00
2016-04-21 Upgrade Societe Generale Sell to Hold $77.00 to $99.00
2016-04-20 Boost Price Target Goldman Sachs Neutral $100.00 to $101.00
2016-04-20 Boost Price Target Goldman Sachs Group Inc. Neutral $100.00 to $101.00
2016-04-19 Boost Price Target JPMorgan Chase & Co. Neutral $90.00 to $98.00
2016-04-14 Upgrade First Global Marketperform to Outperform
2016-04-14 Reiterated Rating Goldman Sachs Hold $97.00 to $100.00
2016-04-08 Boost Price Target Credit Suisse Neutral $83.00 to $93.00
2016-04-08 Boost Price Target Credit Suisse Group AG Neutral $83.00 to $93.00
2016-04-04 Boost Price Target Morgan Stanley Overweight $95.00 to $110.00
2016-03-24 Upgrade Bank of America Neutral to Buy $93.00 to $110.00
2016-03-24 Upgrade Bank of America Corp. Neutral to Buy $93.00 to $110.00
2016-03-23 Reiterated Rating Cowen and Company Outperform $98.00 to $109.00
2016-03-17 Reiterated Rating Goldman Sachs Neutral $97.00
2016-03-14 Boost Price Target Stifel Nicolaus Buy $110.00
2016-03-08 Upgrade BNP Paribas Neutral to Outperform $85.00 to $115.00
2016-02-02 Reiterated Rating Berenberg Bank Hold $90.00
2016-01-19 Reiterated Rating Stifel Nicolaus Buy
2016-01-12 Reiterated Rating Morgan Stanley Overweight $91.00 to $95.00
2015-11-30 Upgrade Nomura Reduce to Neutral $87.42 to $88.00
2015-11-30 Upgrade Nomura Holdings Inc. Reduce to Neutral $87.42 to $88.00
2015-11-18 Reiterated Rating Cowen and Company Buy $97.00 to $92.00
2015-11-02 Lower Price Target BNP Paribas Neutral $87.00 to $79.00
2015-10-20 Boost Price Target Credit Suisse Neutral $83.00 to $86.00
2015-10-16 Boost Price Target Barclays Overweight $90.00 to $92.00
2015-10-16 Boost Price Target Barclays PLC Overweight $90.00 to $92.00
2015-10-15 Reiterated Rating Cowen and Company Buy $95.00 to $97.00
2015-10-09 Lower Price Target Nomura Reduce $81.00 to $80.00
2015-09-16 Lower Price Target Morgan Stanley $90.00 to $88.00
2015-08-26 Lower Price Target Credit Suisse Neutral $84.00 to $83.00
2015-07-20 Boost Price Target Renaissance Capital Hold $85.00 to $86.00
2015-07-20 Boost Price Target BNP Paribas Neutral $85.00
2015-07-20 Boost Price Target Barclays Overweight $87.00 to $90.00
2015-07-17 Reiterated Rating Wells Fargo & Co. Outperform
2015-07-17 Reiterated Rating Wells Fargo Outperform
2015-06-05 Reiterated Rating Nomura Reduce $74.00 to $80.00
2015-05-12 Initiated Coverage JPMorgan Chase & Co. Neutral $90.00
2015-05-08 Upgrade Goldman Sachs Sell to Neutral $87.00
2015-05-06 Upgrade CLSA Underperform to Outperform
2015-05-06 Upgrade Credit Agricole Underperform to Outperform
2015-05-06 Upgrade Credit Agricole SA Underperform to Outperform
2015-05-04 Reiterated Rating Morgan Stanley Buy
2015-05-04 Reiterated Rating Credit Suisse Neutral $80.00 to $84.00
2015-04-17 Boost Price Target Barclays Overweight $85.00 to $87.00
2015-04-16 Upgrade Cowen and Company Market Perform to Outperform $78.00 to $97.00
2015-04-13 Downgrade Argus Buy to Hold
2015-03-23 Set Price Target Morgan Stanley Buy $87.00
2015-02-19 Set Price Target Nomura Sell $70.00
2015-01-15 Downgrade Goldman Sachs Neutral to Sell $80.00
2015-01-13 Reiterated Rating Stifel Nicolaus Buy
2015-01-12 Boost Price Target Laurentian Buy C$9.00 to C$10.00
2014-12-08 Downgrade Nomura Neutral to Reduce
2014-11-06 Downgrade Credit Agricole Outperform to Underperform
2014-09-26 Downgrade Bank of America Buy to Neutral $91.00 to $87.00
2014-07-18 Boost Price Target BNP Paribas $85.00 to $88.00
2014-07-15 Boost Price Target Nomura $74.20 to $74.80
2014-07-11 Boost Price Target Credit Agricole Outperform $90.00 to $92.00
2014-07-10 Initiated Coverage Cowen and Company Market Perform $91.00
2014-04-24 Boost Price Target Nomura Neutral $73.60 to $74.20
2014-04-08 Upgrade Nomura Reduce to Neutral $73.59 to $73.60
2014-03-24 Initiated Coverage Credit Suisse Neutral $85.00
2014-02-24 Downgrade Standpoint Research Sell to Strong Sell
2014-02-20 Downgrade First Global Outperform to Market Perform
2014-02-18 Lower Price Target Jefferies Group Hold $88.00 to $84.00
2014-02-11 Lower Price Target Societe Generale $75.00 to $72.00
2014-02-10 Lower Price Target BNP Paribas $84.00
2014-02-07 Lower Price Target Credit Agricole $95.00 to $90.00
2014-02-07 Boost Price Target Renaissance Capital $3.00 to $88.00
2014-01-31 Initiated Coverage Societe Generale Sell
2014-01-30 Initiated Coverage Societe Generale Sell
2014-01-24 Lower Price Target Citigroup Inc. Neutral $88.00
2014-01-21 Lower Price Target Argus Buy $98.00 to $95.00
2014-01-16 Initiated Coverage BNP Paribas Neutral $90.00
2014-01-06 Initiated Coverage Standpoint Research Sell
2013-12-20 Lower Price Target Jefferies Group $89.00 to $88.00
2013-11-26 Lower Price Target Stifel Nicolaus Buy $95.00 to $93.00
2013-11-21 Reiterated Rating Barclays Buy $98.00 to $95.00
2013-11-21 Downgrade Goldman Sachs Buy to Neutral $103.00 to $95.00
2013-10-18 Reiterated Rating Nomura Reduce $76.00
2013-10-10 Downgrade Nomura Neutral to Reduce $76.00
2013-10-03 Boost Price Target JPMorgan Chase & Co. Neutral $108.00 to $109.00
2013-10-02 Boost Price Target Credit Agricole Outperform $95.00 to $100.00
2011-04-25 Reiterated Davenport Buy $67 to $80
2010-02-16 Upgrade UBS Neutral to Buy $54
2016-06-17 Upgrade JPMorgan Chase & Co. Neutral to Overweight $112.00
2016-04-21 Upgrade Societe Generale Sell to Hold $77.00 to $99.00
2016-04-20 Boost Price Target Goldman Sachs Neutral $100.00 to $101.00
2016-04-20 Boost Price Target Goldman Sachs Group Inc. Neutral $100.00 to $101.00
2016-04-19 Boost Price Target JPMorgan Chase & Co. Neutral $90.00 to $98.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
CALANTZOPOULOS ANDRE Chief Operating Officer 0.05%  (743765) PM /
CAMILLERI LOUIS C Chairman and CEO 0.04%  (657167) PM /
Matteo Pellegrini President, Asia Region 0.02%  (268888) PM /
Olczak Jacek Chief Financial Officer 0.01%  (230231) PM /
Zielinski Miroslaw Pres, EEMA & Duty Free 0.01%  (221610) PM /
FIRESTONE MARC S Sr. VP & General Counsel 0.01%  (175549) PM / UNIS /
Hurwitz Even SVP Corporate Affairs 0.01%  (173239) PM /
Kuepfer Marco VP Finance & Treasurer 0.01%  (166830) PM /
Psotta Joachim VP & Controller 0.01%  (164489) PM /
Marques Antonio SVP, Operations 0.01%  (163442) PM /
King Martin G. SVP Operations 0.01%  (146244) PM /
De Wilde Frederic Sr. VP, Marketing & Sales 0.01%  (144510) PM /
Mackay Graham 0.01%  (139143) PM /
Janelle Paul VP, Corp Planning & Busi Devel 0.01%  (116056) PM /
Mortensen James Pres, Latin America & Canada 0.01%  (111676) PM /
Mariotti Marco Sr. VP, Corp. Affairs 0.01%  (94031) PM /
Azinovic Drago Pres., European Union Region 0.01%  (84277) PM /
WOLF STEPHEN M 0.01%  (82766) PM / RRD /