Philip Morris International | Delivering A Smoke-Free Future

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Our Q4 2025 and Full-Year results

PMI announced its latest financial results.

Visit our investors‘ section 0:59 Hide Transcript Show Transcript

Interviewer asks:

Ultimately, if your aim is to stop every smoker out there from smoking,

why wouldn’t you just stop making cigarettes?

Nevena Crljenko, Vice President, Public Affairs, Philip Morris International, replies:

If Apple stopped producing iPhones today, would people stop using phones?

The answer is no.

The equivalent of that is if we stopped making cigarettes,

a smoker goes tomorrow to the shop, 

they’ll buy another brand, and we don't have to imagine scenarios: 

We can look at the countries that actually banned tobacco.

Bhutan did it several years ago, banned the use of cigarettes. 

South Africa, in Covid-times, banned temporarily the sale of tobacco products and alcohol.

What happened? The market was flooded with illicit products.

So, if there is demand, there will be a supply, 

and we believe it’s better to phase out cigarettes, obviously. 

And if more people are switching to smoke-free products,

obviously there’ll be less demand for cigarettes.

Our progress

Delivering a smoke-free future

2 min read

Learn more

We welcome tough questions - and provide straight answers

Watch our Let's Talk video series

Our progress toward a smoke-free future as of 2025 Q4

• 

  42 percent

  of PMI’s total global net revenues came from our smoke-free business.*

• 

  >43 million

  estimated legal-age consumers of PMI’s smoke-free products.**

• 

  106 markets

  where our smoke-free products are available, providing better alternatives for legal-age smokers.*

• 

  USD >16 billion

  invested to develop, scientifically substantiate, and commercialize smoke-free products since 2008.**

Previous Next

*As of Q4 2025. **As of December 31, 2025. Important note: This information should be read in conjunction with the Philip Morris International Inc. earnings release dated February 6, 2026, as well as the accompanying glossary of key terms, definitions, explanatory notes, select financial information and reconciliations of non-GAAP financial measures, both of which are available on our Investor Relations page. “PMI,” “We,” “Our,” and “Us” refers to the entire Philip Morris International family of companies..

Our Science Cutting-edge research and technology Our Science

What is tobacco harm reduction?

Better alternatives exist for those adult smokers who would otherwise continue to smoke. Find out why harm reduction is so important.

Read article

The role of nicotine

3 min read

Read article Our Science

Assessing our product health impacts

3 min read

Read more 1:13 Hide Transcript Show Transcript

Interviewer says:

There's a lot of confusion around smoke-free products.

What are they?

Are they really less harmful than cigarettes?

And why are governments banning them completely?

There's a lot to unpack, but let's begin with what a smoke-free product is.

Nevena Crljenko, Vice President, Public Affairs, Philip Morris International, replies:

Smoke-free products are very different products than cigarettes are.

The most known tobacco product in the world.

Cigarettes are lit and burned.

And the smoker inhales the smoke.

Smoke contains thousands of chemicals, many of which are harmful.

Your body is exposed to them and over time it develops into the disease.

So the first principle we developed was let's eliminate the burning process.

We can eliminate the burning process by a couple of things.

We can control the temperature in terms of

how we heat tobacco but not burn it. 

That's heated tobacco products. 

We can heat the liquid which contains nicotine. 

This is e-vapor product (e-cigarettes). 

Or we can create oral products such as nicotine pouches, 

which basically are not warmed at all.

But the key component, irrespective of how different these products are,

is that they do not contain the burning, 

which is the main source of smoking-related diseases.

 

In the news

• 

  Global dialogue on the future of human cognition in the age of AI

  A new Philip Morris International (PMI) white paper delves into why distinctively human abilities are emerging as the key differentiators in an age of human-machine collaboration.

  Read more
• 

  PMI certified as Global Top Employer for the 10th year running

  Our continued excellence in a changing environment has again been recognized in 2026.

  Read more
• 

  Survey shows strong public support for smoke-free products to help reduce smoking rates

  Philip Morris International-commissioned survey also highlights growing concerns about how public health decisions are made, with respondents calling for decision-makers to study the science behind smoke-free products.

  Read more

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Our commitments The standards we uphold Our commitments

Marketing standards

It’s our responsibility to market our products responsibly.

2 min read

Read article 0:53 Hide Transcript Show Transcript

Gentle percussion music starts.

Interviewer asks:

So real-world evidence is showing us that

these products can help lower the number

of smoking-related diseases, but they’re still not risk-free.

And as a huge multinational company, these products are in markets across the globe.

What are you doing to stop underage use?

Nevena Crljenko, Vice President, Public Affairs, Philip Morris International, replies:

These products we produce are for adults only.

We have very strict controls in terms of limiting the access of youth

to these products.

We develop our communication, which is clearly geared just to the adults.

In all of our own retail channels, we have age verification

to make sure that it’s just the adult person who

has access to these products, 

and we work with all our partners,

such as distributors and the others, to follow the same principles.

Music ends

PMI’s Statement of Purpose

9 min read

Good conversion practices for PMI’s smoke-free products

2 min read

Watch: In the spotlight

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  Let's Talk with Nevena

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  Inaction has consequences

  2:22 to watch

  

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  It's time to make smoking history

  2:25 to watch

  

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  Tobacco harm reduction is central to the delivery of a smoke-free future

  2:01 to watch

  

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  The difference between e-cigarettes and heated tobacco products

  0:54 to watch

  

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  Why burning is the main problem

  1:15 to watch

  

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  Nicotine explained

  0:57 to watch

  

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  Why did you want to be a scientist?

  1:46 to watch

  

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  Resiliency requires innovation, inclusion and trust in science

  11:37 to watch

  

Previous Next Leaders of Change PMI’s thought leaders share their insights and expertise Leaders of Change

Businesspeople should think more like scientists, where failures present opportunities for solutions

A life in science has taught me that knockbacks are a necessary step on the path to success, writes Dr Moira Gilchrist.

3 min read

Read more

Our leadership team

Discover more

Unleashing innovation through the transformative power of cross-generational collaboration

4 min read

Only the consumer can make innovation a success

3 min read

Read more Make history Develop your career at PMI Make history

Make history with us

Search our job opportunities

Work with us

Equal-salary certified

3 min read

Culture & Diversity at PMI

00:19 Hide Transcript Show Transcript

How we #MakeHistory by creating better choices

Music starts.

Elodie Ly, Lead Life Sciences Projects, Switzerland, talks to camera.

Our team of more than 400 world-class scientists, engineers and technicians are constantly working towards offering current adult smokers a better choice than continuing to smoke cigarettes.

Music ends

Words appear on screen:

Hashtag Make History

Find out more at PMI.com.

 

 

Why invest in PMI?

We are investing behind innovation and delivering sustainable growth from our leading smoke-free products, which are a much better choice than continued smoking.

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