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How Much Money Does Philip Morris Have

Written By Tuesday, May 10, 2022 Add Comment Edit

Swiss-American multinational tobacco company

Philip Morris International Inc.
Type Public

Traded equally
  • NYSE: PM
  • Half dozen: PMI
  • S&P 100 Component
  • Southward&P 500 Component
Industry Tobacco
Founded
  • 2008; 14 years agone  (2008) (spin-off company)
  • 1847; 175 years ago  (1847) (original)
Founder Philip Morris
Headquarters Stamford, Connecticut

Area served

 Worldwide (excluding the The states)

Cardinal people

 André Calantzopoulos
(Executive Chairman)
Jacek Olczak
(CEO)
Products Cigarettes, cigars, Codentify, fine-cut rolling tobacco, snuff, rolling papers and tubes
Acquirement Decrease United states of america$76.047 Billion (Fiscal Twelvemonth Ended December 31, 2020)[1]

Operating income

 Increase US$11.668 Billion (Financial Twelvemonth Ended December 31, 2020)[i]

Internet income

 Increase Us$viii.056 Billion (Financial Yr Concluded December 31, 2020)[ane]
Total avails Increase US$44.815 Billion (Financial Year Concluded Dec 31, 2020)[1]
Full disinterestedness Decrease –US$x.631 Billion (Fiscal Year Ended December 31, 2020)[1]

Number of employees

 71,000 (2020)[1]
Subsidiaries
  • Papastratos
  • PMFTC, Inc.
  • Medicago Inc.(33%)
  • Rothmans, Benson & Hedges
  • Sampoerna
  • Ceylon Tobacco Visitor (8%)
Website pmi.com
Footnotes / references
[2]

Philip Morris International Inc. (PMI) is a Swiss-American multinational cigarette and tobacco manufacturing company, with products sold in over 180 countries.[iii] The nigh recognized and best selling product of the company is Marlboro.[iv] Philip Morris International is ofttimes referred to every bit one of the companies comprising Big Tobacco.

Until a spin-off in March 2008, Philip Morris International was an operating company of Altria. Altria explained the spin-off, arguing PMI would have more "liberty," i.eastward. leeway outside the responsibilities and standards of American corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets", while Altria focuses on the American domestic market.[five] The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Commutation and other markets.

The company's legal seat is in Stamford, Connecticut but it does not operate in the Usa. Philip Morris USA, a subsidiary of PMI's sometime owner American parent Altria group, owns the Philip Morris brands there. Operational headquarters are in Lausanne, Switzerland.[6]

With tobacco beingness addictive and the single greatest crusade of preventable expiry globally,[vii] the company is highly controversial, not least because of its history of obfuscating scientific prove around the health impacts of smoking. It has been the subject of litigation and restrictive legislation from governments.

In response to awareness of the harm to health of cigarettes, PMI has declared on its homepage the intention to replace cigarettes with smoke-free products, and to "switch ... adult smokers" to these products as the first stage of a business organization strategy, as a decision for the benefit of "developed smokers" and the company's shareholders and employees.[8] [ix] [10]

With the world-broad subtract in smoking prevalence in the 21st century, shares of Philip Morris were no longer considered the "safe oasis" they once were.[11] Nonetheless, it has to be noted that the accented number of smokers continues to increase. The company ranked No. 101 in the 2021 Fortune 500 list of the largest corporations past total acquirement.[12]

History [edit]

Early evolution [edit]

The company states its history is traced to a London tobacconist, Philip Morris, opening a single shop on London's Bond Street in 1847 which sold tobacco and cigarettes.[xiii] [14] In 1881, Philip Morris' son, Leopold Morris, established "Philip Morris & Company and Grunebaum Ltd" with Joseph Grunebaum.[4] In 1885, the company changed its name to "Philip Morris & Co. Ltd."[4]

In 1894, William Curtis Thomson and his family began to control the company, and in 1902 the company was incorporated in New York.[4] In 1919, the American business was acquired and incorporated as "Philip Morris & Co. Ltd., Inc." in Virginia.[4]

Later development [edit]

The Cube, Philip Morris International's Research and Development Heart in Neuchatel-Serrières, April 2017

Philip Morris manufactory in Russian federation, August 2006

In 1954, Philip Morris (Australia) became the first affiliate of Philip Morris & Co., Ltd, Inc. outside the U.S. In 1972, the visitor'south Marlboro became the globe'due south tiptop-selling cigarette make.[4]

In 1987, Philip Morris International (PMI) was incorporated every bit an operating company of Philip Morris Companies Inc.[4] In 2001, the operations center of the visitor was transferred from Rye Brook, New York, to Lausanne, Switzerland.[4] [15] On January 27, 2003, Philip Morris Companies Inc. formally changed its name to the Altria Group.[16] In March 2008, Philip Morris International was spun off from Altria.[17]

In April 2014, Philip Morris International announced that information technology would shut its Moorabbin plant in Australia by the terminate of 2014 subsequently operating for threescore years, due to the gradual decline of sales in the last 10 years and difficulties conforming to 2010 Australian government regulation about reducing burn down risks.[eighteen] In 2015, the company sold 850 billion cigarettes.[xix]

In August 2018 Reuters reported that Philip Morris "has been amidst foreign companies with exposure to Russia'southward tobacco market. The company's sales exposure to Russia is 7 per centum, according to a note from Goldman Sachs."[20]

As of 2019, main institutional investors are The Vanguard Group with an eight% stake, Capital Enquiry & Management with 5% and BlackRock Fund Advisors with 4%.[21]

In July 2021, Philip Morris International agreed to buy Vectura Group for £1 billion.[22]

In 2022, due to the Russian invasion of Ukraine and boycott of the Russian market by many international companies, the company has faced trouble do the its high level of exposure to the Russian market, from which it was reluctant to disinvest.[23] [24] [25]

Brands [edit]

Philip Morris International has six multibillion 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 Republic of indonesia. An iconic make that is more than than 100 years old, the kretek cultural heritage.
  2. L&M was launched by Liggett & Myers in 1953 with the tagline: "American cigarettes of the highest quality with the best filter." L&Grand variants include full flavour shorts, total flavor 100s, lights, ultra lights, menthol shorts, menthol 100s, menthol light shorts, menthol light 100s, Turkish Blend shorts, Turkish Blend 100s, and L&Yard 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 Flavour Plus, Marlboro Black Menthol, and Heatsticks, a heated tobacco product.[26] The company's Marlboro brand ranked starting time among the most valuable tobacco brands of 2017 on BrandFinance'southward website,[27] which uses the royalty relief method of brand valuation.[28]
  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. A Mild or Sampoerna A was launched in Republic of indonesia on 1989. A Mild is a Mild Kretek cigarette sold in Republic of indonesia. The iconic brands and best selling make from Indonesia, now sold in Malaysia.
  7. Chesterfield was launched in 1896. Chesterfield is the third-largest international brand from Philip Morris, with a book of 57 Billion cigarettes in 2019.
  8. Philip Morris is the fourth-largest international brand from Philip Morris, with a volume of 49 Billion cigarettes in 2019 and is sold in over 40 markets.

  • Dji Sam Soe 234

  • Longbeach

  • Marlboro

  • Marlboro Ice Blast

Board of directors [edit]

As of November, 2021:[29]

  • Bonin Bough
  • Michel Combes
  • André Calantzopoulos – Chairman
  • Juan José Daboub
  • Werner Geissler
  • Lisa Claw
  • Jennifer Li
  • Jun Makihara
  • Kalpana Morparia
  • Lucio A. Noto
  • Frederik Paulsen Jr
  • Robert B. Polet
  • Shlomo Yanai

Finances [edit]

For the financial year 2020 Philip Morris reported earnings of US$eight.056 billion with an annual revenue of Usa$78.047 billion, a subtract of 1.6% over the previous fiscal bike. Its shares traded at over $87 per share, and its marketplace capitalization was valued at over US$127.v billion at the cease of the fiscal year 2020.[xxx] [31]

Twelvemonth Acquirement
in mil. The states$ 		Internet income
in mil. United states of america$ 		Total Assets
in mil. United states of america$ 		Price per Share
in US$ 		Employees
2005 45,316 v,616
2006 48,302 6,130
2007 55,243 6,038 31,777
2008 63,640 half-dozen,890 32,972 43.51 75,600
2009 62,080 6,342 34,552 48.nineteen 77,300
2010 67,713 vii,259 35,050 58.53 78,300
2011 76,346 8,591 35,488 78.48 78,100
2012 77,393 8,800 37,670 83.64 87,100
2013 fourscore,028 8,576 38,168 87.13 91,100
2014 80,106 seven,459 35,187 81.45 82,500
2015 73,908 half dozen,849 33,956 87.91 lxxx,200
2016 74,953 vi,948 36,851 91.49 79,500
2017 78,098 6,021 42,968 105.65 80,600
2018 79,823 7,911 39,801 66.76 77,400
2019 77,921 seven,185 42,875 85.09 73,500
2020 76,047 viii,056 44,815 82.79 71,000

Carbon footprint [edit]

Philip Morris International reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 492 Kt (-175 /-26.2% y-o-y)[32] and commits to reduce absolute emissions 50% by 2030 from a 2019 base year.[33] This science-based target is aligned with Paris Understanding to limit global warming to ane.5°C to a higher place pre-industrial levels.[34]

Philip Morris International's annual Total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)
Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 December 2020
811[35] 788[36] 749[37] 699[38] 667[39] 492[32]

Research [edit]

Philip Morris International's research center is located in Neuchatel, Switzerland and houses Philip Morris International'due south production research and development program.[40] As of April 2018, earnings reports showed the company had spent $4.v billion on 4 products: ii that heat rather than fire tobacco, and two other nicotine products.[41] One of these heat-not-burn tobacco products is IQOS.[42]

Controversies [edit]

Foundation for a Smoke-gratuitous World [edit]

In September 2017, Philip Morris International announced the establishment of the Foundation for a Smoke-Free Globe, stating that it would support it with almost U.s.$1 billion of funding over the adjacent 12 years.[43] The declared objective of the Foundation was to "evaluate the impact that fume-free alternatives can have on smokers and public health, assess the effect of reduced cigarette consumption on the industry value chain, and measure overall progress towards a smoke-gratis world."[43] However, the Foundation, which claimed to exist independent, was surrounded with controversy since its inception.[44] [45] Its claims to independence have been challenged.[46] [44] [47]

The World Health Organization issued a statement in which it pointed out the "conflicts of involvement involved with a tobacco company funding a purported health foundation", indicating that information technology would not partner with the Foundation and inviting governments and the public wellness customs to follow its lead.[48] More than one hundred public wellness organizations accept taken a stiff stance in rejecting collaboration with the foundation.[45] [49]

Australia [edit]

The Australian Government announced it would innovate "Tobacco Plain Packaging Laws" on 29 April 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 Express and Philip Morris Limited on 23 February 2011. In June 2011, Philip Morris International announced that information technology was using ISDS provisions in the Australia-Hong Kong Bilateral Investment treaty (Chip) to demand compensation for Australia's evidently cigarette packaging anti-smoking legislation.[50] It was i of several tobacco companies to launch legal activeness confronting the Australian Government.[51] In response, British American Tobacco, Philip Morris, Imperial Tobacco and Nihon Tobacco International took the Australian government to the High Court of Australia to try to stop the authorities of Australia from introducing plain packaging for tobacco products.

Two challenges to the tobacco plainly packaging legislation were heard by the High Courtroom of Commonwealth of australia betwixt 17 and 19 April 2012: 'British American Tobacco Australasia Express and Ors v. Republic of Australia' and 'J T International SA five. Commonwealth of Commonwealth of australia'.

On fifteen August 2012, the High Court handed down orders for these matters, and establish that the Tobacco Plain Packaging Human activity 2011 is not contrary to s 51(xxxi) of the Constitution. On five October 2012, the Court handed down its reasons for the decision. By a vi: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' nether s51(xxxi) of the Constitution.[52]

On 18 December 2015, the Tribunal instituted by the United Nations Committee on International Trade 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 guild to specifically sue the Australian Government for bringing in plain packaging laws. PMI was unable to practice this itself as the Australia–U.s. costless-trade agreement signed in 2004 did not have any investor-country dispute settlement clauses included—past design.[52]

In 2017, the Dispute Settlement Body of the Globe Trade Arrangement supported Australia's right to enforce plainly packaging.[53] In 2017, PMI was instructed to pay the Australia government's legal costs, an estimated 50 million dollars.[54]

In March 2018, the Tobacco behemothic announced that it will cutting 150 jobs equally part of a major restructure. Tammy Chan, the managing director in Australia, said more efficient ways to deal with retailers were introduced based on digital applied science development.[55]

European Union [edit]

In 2004, Philip Morris and the European Spousal relationship reached an agreement co-ordinate to which Philip Morris would pay $1.25bn until 2016 to end a lawsuit over smuggling charges.[56]

Norway [edit]

Philip Morris also sued Norway over the country's ban on displaying tobacco products in stores. Information technology lost the example in 2012.[57]

Uruguay [edit]

In 2010, the company lobbied against Uruguay's strong anti-smoking laws[58] and filed a complaint confronting the country (Philip Morris five. Uruguay) under the Switzerland-Uruguay bilateral investment treaty.[59] On viii July 2016, the International Middle for Settlement of Investment Disputes ruled in favour of Uruguay.[threescore]

Great britain [edit]

In Baronial 2014, the company foreshadowed legal activeness against the Regime of the United Kingdom if it went ahead with plans to innovate plain packaging. In a submission to the government, Philip Morris International said it would seek bounty running into "billions of pounds," if the proposed legislation went ahead.[61]

In 2018, an advertising entrada was criticized as hypocritical for urging smokers to quit while promoting other products such equally heated tobacco.[62]

IQOS [edit]

A person using the IQOS device.

In 2017, according to two editors of the journal JAMA Internal Medicine, after publication of a enquiry alphabetic character describing harmful chemicals in oestrus-not-burn tobacco products, people from Philip Morris International contacted the institutions where the researchers worked and questioned the methods used in the written report; the editors described this as a class of "force per unit area to suppress soapbox that could harm commercial interests".[63]

In December 2017, Reuters published documents and testimonies of former employees detailing irregularities in the clinical trials conducted past Philip Morris International for the approval of the IQOS product by the FDA.[64]

In Oct 2020, Philip Morris launched its IQOS products in the UAE. The state had officially legalised the sale and utilise of electronic cigarettes in April 2019. The U.S. Nutrient and Drug Administration (FDA) authorised the marketing of IQOS system, which includes IQOS devices and three HeatSticks variants, as a modified take a chance tobacco production (MRTP) in July 2020. IQOS is the commencement electronic alternative to cigarettes to be granted marketing orders through the FDA's MRTP procedure.[65]

Cigarette smuggling in Africa [edit]

According to the Organized Crime and Abuse Reporting Project (OCCRP), Philip Morris' representative in Burkina Faso, Apollinaire Compaoré, has earned millions by participating in cigarette smuggling in W Africa. In item, he worked with a Nigerian narco-trafficker Chérif Ould Abidine, nicknamed Chérif Cocaine, to smuggle Marlboro cigarettes into Libya. This tobacco trafficking contributes to the financing of local conflicts and passes through half dozen countries: Algeria, Libya, Burkina Faso, Mali, Niger and Côte d'Ivoire.[66]

Other [edit]

From the 1970s to the late 1990s, Phillip Morris forth with British American Tobacco, was involved in campaigns to undermine bans against smoking in Muslim majority countries by branding Muslims who opposed smoking every bit a "'fundamentalist' who wishes to render to sharia law," and exist "a threat to existing authorities as" according to leaked documents.[67] A 1985 report from Philip Morris squarely blamed the World Wellness Organization: "This ideological development has get a threat to our business because of the interference of the WHO [...] The WHO has not only joined forces with Muslim fundamentalists who view smoking equally evil, simply has gone still further by encouraging religious leaders previously non active anti-smokers to have up the cause."[67] Philip Morris has refused to annotate on these findings.[67]

Philip Morris International has announced an overhaul of its homo rights protections of tobacco workers in Kazakhstan and 30 other countries afterward critical reports.[68]

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 endeavor" intended to "undermine public health".[69]

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

In Feb 2015, John Oliver highlighted the company'southward many international legal cases on an episode of his television show Last Week Tonight. He too attempted to enhance awareness for his entrada using the hashtag #JeffWeCan.[71]

[edit]

Philip Morris is a long-term chief sponsor of the Formula One team Scuderia Ferrari.[72] The sponsorship is subliminal in the logo in recent times due to restrictions in tobacco ad. Marlboro-branded Ferrari and McLaren cars won several world titles with famous drivers such equally Alain Prost, Ayrton Senna and Michael Schumacher. Philip Morris also sponsored several title winners in MotoGP, road racing and Indy Cars. The Ferrari Formula One deal earlier direct advertisements were banned was estimated to be worth £45 million a year as well as paying the multi-million salary of Schumacher.[73]

Despite no longer existence able to brandish the Marlboro logo on Ferrari cars, Philip Morris renewed its sponsorship deal with Ferrari in 2011,[74] 2015,[75] 2017,[76] and 2018 upward until 2021.[77] The 2017 deal was reported to exist worth $160 million a year.[78]

Philip Morris's sponsorship of Ferrari was seen visually on the car again at the 2018 Japanese 1000 Prix, with the cigarette company's "Mission Winnow" branding. This branding has been seen by authorities as an attempt to flout laws and rules banning tobacco advertising, and information technology was removed by Ferrari for the 2019 Australian K Prix later on Australian authorities launched an investigation.[79] Ferrari as well decided to remove the branding for the 2019 Canadian 1000 Prix and the 2019 French Grand Prix to avoid problems with bans on tobacco advertising.[79] As of 2022, Mission Winnow/Phillip Morris International and Ferrari take decided to mutually end their title sponsorship and sponsorship agreement entirely.

In motorcycle racing, Philip Morris International sponsored Ducati Corse and Yamaha MotoGP teams. In 1999, Yamaha was sponsored by Marlboro until 2002 flavour of MotoGP serial. In 2003, Marlboro has been a title sponsor of the team despite the company logo does non appear or riders motorcycle due to the tobacco advertising ban in European Union countries that were already in event at that time.[eighty] similarly information technology had been removed from Scuderia Ferrari Formula 1 race cars earlier in 2019.[81] [82] Marlboro would stopped the sponsorship on Ducati in 2007. During the Marlboro sponsorship menstruum, Yamaha won the constructor title in 2000 season and Ducati won the constructor championship in 2007 season with Casey Stoner as rider champion.

In 2019, similar to Scuderia Ferrari Formula One team, Philip Morris International returned as a sponsor for Ducati MotoGP team with the cigarette visitor's "Mission Winnow" branding. The sponsorship has raised controversy in some countries like Commonwealth of australia and Italy. The case has been brought to Italian courtroom. Notwithstanding, Philip Morris International spokesperson, Tomasso di Giovanni denied Mission Winnow existence a tobacco advertising and instead is a company dedicated to developing and find means to help smokers around the earth to give up their tobacco addiction. The Australian federal Minister for Wellness and Victoria state Department of Health and Man Services has besides launched a probe against Philip Morris International.[83] Mission Winnow was forced to drop its branding during the 2019 French motorcycle One thousand Prix in Le Mans and 2019 Australian Motorcycle Grand Prix in Phillip Island, Victoria due to local government regulations.[84] By 2020 season, Mission Winnow has been dropped every bit Ducati master sponsor and has been replaced with Lenovo to make full the master sponsorship void.

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External links [edit]

  • Business information for Philip Morris International:
    • Google Finance
    • Yahoo! Finance
    • Bloomberg
    • Reuters
    • SEC filings
  • Official website Edit this at Wikidata
  • "Morris study blasted: Commissioned study institute smokers' early deaths helped Czech Republic". CNN Money (July 16, 2001).

Source: https://en.wikipedia.org/wiki/Philip_Morris_International

Posted by: morrissaileforseen.blogspot.com

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