EU / M.E. / AFRICA
Phillip Morris International (PMI) has reported a 2.8% drop in its total market shipment volumes, which includes the company’s international duty-free business, in Eastern Europe, Middle East, and Africa region (EEMA).
Impacted by the new excise tax implemented in 2017 resulting in the doubling of retail prices, the company saw a 35.8% decline in cigarette shipment volume in Russia and Saudi Arabia. PMI’s estimated total market in EEMA decreased by 2.8% to one trillion units. The company’s regional market share decreased 0.3 points to 24.9%.
In Q4, the increase in PMIs total shipment volume was partially offset by lower cigarette shipment volume in EEMA. This reflected the impact of the aforementioned new excise tax, which was partly offset by North Africa (notably Algeria and Turkey.)