PMI reports strong smoke-free growth: 39 per cent of 2024 revenue from alternatives, 38.6 million us

Philip Morris International (PMI) has marked a milestone year in its shift away from cigarettes, with smoke-free products accounting for 39 per cent of total net revenues in 2024 and reaching an estimated 38.6 million adult users globally.

The figures were revealed in the company’s sixth annual Integrated Report, which highlights both financial performance and sustainability progress over the past decade.

Key achievements include six markets where smoke-free alternatives now contribute over 75 per cent of net revenues – up from three in 2023 – and a cumulative investment exceeding $14 billion (£10.6bn) in smoke-free innovation since 2008. Operational strides were also noted, with 61 per cent of PMI’s manufacturing facilities now carbon-neutral, up from 43 per cent the previous year.