Philip Morris International Inc. hosted a live audio webcast at the Consumer Analyst Group of New York Conference on February 18, 2026, where Group CEO Jacek Olczak and Group CFO Emmanuel Babeau addressed investors, furnishing presentation slides as Exhibit 99.1 detailing smoke-free product progress, market expansion, and industry transformation.
Key takeaways
PMI smoke-free net revenues reached ~$17 billion in 2025 across 106 markets.
Smoke-free net revenues comprised 41.5% of total PMI net revenues in FY’25.
PMI transformed from volume decline to ~2% CAGR 2020-25, with SFPs at >200% CAGR.
59 markets have dedicated excise tax category for heated tobacco products as of Jan’26.
SFP share of global nicotine industry volumes (excl. China) increased to 19% in 2025.
PMI present in executive team including CEO Jacek Olczak, CFO Emmanuel Babeau, and others at CAGNY.