Philip Morris International Inc (NYSE:PM)

$ 127 0.18 (0.14%) Market Cap: 197.18 Bil Enterprise Value: 245.51 Bil PE Ratio: 20.13 PB Ratio: 0 GF Score: 84/100

Philip Morris International Inc at Goldman Sachs Global Staples Forum (Virtual) Transcript

May 18, 2021 / 01:40PM GMT

Release Date Price: $97.69 (+0.14%)

Transcript

Bonnie Lee Herzog

Goldman Sachs Group, Inc., Research Division - Research Analyst

Good morning, everyone. Thanks for joining us today. It's a pleasure to introduce the next speaker of our virtual conference this year, Jacek Olczak, who is the new CEO of Philip Morris International. We're especially pleased to have Jacek with us today since this is his first public event, I believe, as CEO, so congratulations, Jacek.

Well, it's been a very exciting time for Philip Morris as the company has made tremendous progress on its smoke-free transformation with roughly 30% of its revenues now coming from reduced risk products. Now over the past year, we've seen IQOS increase its traction globally, fueled by the enormous compounding effect of new user acquisitions, strong innovation and a powerful digital marketing model that really, in my view, continues to set Philip Morris apart from the pack.

Now with that, there's a lot to discuss this morning. So I'm going to first turn it over to Jacek for some opening remarks, and then we're going to go right into our fireside chat. But just as a quick

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