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PM USA’s cigarette volume stable against background of declining market

| February 1, 2013

Philip Morris USA’s cigarette shipment volume during the 12 months to the end of December, at 134,874 million, was down by 0.2 per cent on that of the 12 months to the end of December 2011.

Marlboro shipments were down by 0.7 per cent to 116,377 million while shipments of other premium brands were down by 8.0 per cent  to 8,629 million.

Discount brand shipments were increased by 15.3 per cent to 9,868 million.

In reporting its full-year and fourth-quarter results yesterday, Altria said that, after adjusting for an extra shipping day and changes in trade inventories, PM USA’s 2012 volume was essentially unchanged; while total industry volume was down by about three per cent.

PM USA’s share of the retail cigarette market during the year to the end of December, at 49.8 per cent, was up by 0.8 of a percentage point.

Marlboro’s share was up by 0.6 of a percentage point to 42.6 per cent while that of the company’s other premium brands was down by 0.3 of a percentage point to 3.4 per cent.

The company’s discount-brands share was up by 0.5 of a percentage point to 3.8 per cent.

Middleton’s cigar shipments during the year to the end of December, at 1,237 million, were down by 0.7 per cent on those of the year to the end of December 2011.

Shipments of Black & Mild were down by 0.6 per cent to 1,219 million while shipments of other brands were down by 10.0 per cent to 18 million.

The company’s share of the domestic retail cigar market was increased by 0.5 of a percentage point to 30.2 per cent, with Black & White’s share was up by 0.5 of a percentage point to 30.0 per cent and the share of its other brands was unchanged at 0.2 per cent.

Meanwhile, PM USA and USSTC’s combined smokeless product shipments during the year to the end of December, at 763.3 million, were increased by 3.9 per cent on those of 2011.

Copenhagen shipments were increased by 10.8 per cent to 392.5 million while Skoal shipments were up by 0.6 per cent to 288.4 million.

Other-brand shipments were down by 12.0 per cent to 82.4 million.

PM USA and USSTC’s combined share of the retail market in smokeless tobacco increased by 0.3 of a percentage point to 55.4 per cent.

Copenhagen’s share was increased by 2.2 of a percentage point to 28.4 per cent while Skoal’s share was down by 0.6 of a percentage point to 22.2 per cent.

The share of the companies’ other brands was down by 1.3 percentage points to 4.8 per cent.

Altria’s full-year reported diluted earnings per share grew by 25.6 per cent to $2.06 while its adjusted diluted earnings per share increased by 7.8 per cent to $2.21.

“Altria delivered strong results and returns for its shareholders in 2012,” said Marty Barrington, Altria’s chairman and CEO. “Altria grew its full-year adjusted diluted earnings per share by 7.8 per cent behind the business performance of our operating companies, complemented by higher earnings from our equity investment in SABMiller.

“Despite a continuing, challenging external environment, our tobacco operating companies’ premium brands had an excellent year as our companies continued investing in their long-term success. These companies grew their adjusted operating companies’ income and gained retail share in cigarettes, cigars and smokeless tobacco for the full year of 2012.”

Category: Breaking News

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