How Did Philip Morris Perform In The European Union, And Its Key Markets There, In 2015?

+17.98%
Upside
91.62
Market
108
Trefis
PM: Philip Morris logo
PM
Philip Morris

Philip Morris’ cigarette shipment volume declined by 0.1%, mainly in Italy. The company’s market share increased by 0.1 percentage points to 38.3%, with notable gains in France, Germany, Poland, and Spain, largely offset by the Czech Republic, Greece, Italy, and Portugal.

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In France, the increase in the estimated total cigarette market reflected the general recovery since the second half of 2014, and a lower prevalence of e-vapor products and illicit trade. PMI’s increase in shipment volume indicates an increase in market share, primarily of premium brand Marlboro and Philip Morris.

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The decline in the estimated total cigarette market in Germany was primarily due to the impact of price increases, partially offset by a lower prevalence of illicit trade. PMI’s growth in shipment volume reflects a rise in market share,  driven by Marlboro and L&M.

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The moderate decrease in the Italian estimated total cigarette industry was driven by an improved macro-economic environment and a reduced prevalence of illicit trade and e-vapor products. A decline in PMI’s shipment volume reflected a reduced market share, notably of Marlboro, due to price increases.

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In Poland, the estimated total cigarette market declined due to the impact of price increases and an increase in the prevalence of illicit products, partially offset by a lesser amount of e-vapor products. A higher cigarette shipment volume of PMI was driven by market share gains in Marlboro and Chesterfield.

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The Spanish total cigarette market was negatively affected by the price increases, partially offset by an improving economy, and a reduced prevalence of illicit trade and e-vapor products. The growth in PMI’s shipment volume reflected market share gains of Marlboro and Chesterfield.

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Notes:

1) The purpose of these analyses is to help readers focus on a few important things. We hope such lean communication sparks thinking, and encourages readers to comment and ask questions on the comment section, or email content@trefis.com
2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Philip Morris International.
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